Archer Aviation finds a partner to commercialize eVTOL travel in Korea, demo flights coming in Q4
Electric Vertical Takeoff and Landing (eVTOL) aircraft developer Archer Aviation is continuing to lay the global groundwork for commercial operations in a new territory: South Korea. The next-generation aircraft specialist has announced a new partnership with Korea’s leading mobility-as-a-service company, KaKaoMobility, to participate in the country’s Grand Challenge and bring eVTOL travel to the region quickly.
Archer Aviation ($ACHR) is one of the more popular eVTOL developers in a growing segment of emissions-free air travel that continues to wield momentum as a global player in the space. With airworthiness certification from the FAA already in place and investments from big names like United, Stellantis, and even the US Air Force, Archer has (literally) taken to the skies and expanded its brand outward beyond its headquarters in Santa Clara, California.
In the fall of 2023, mere days after announcing a deal to launch eVTOL air taxi services across the United Arab Emirates, Archer Aviation completed a maiden voyage in its flagship Midnight aircraft in its native US.
As Archer continues the Midnight’s “for credit” testing process to achieve commercial operation authorization with the FAA this year, it has continued to secure partnerships in other countries to bring advanced air mobility (AAM) to the masses. Since the initial eVTOL flight, Archer has signed deals to bring air taxi operations to India while most recently expanding its plans in the UAE in a new deal worth an estimated $500 million.
Today, Archer shared additional expansion plans in Asia, securing a fresh partnership in South Korea to help the country reach its ambitious plans to bring commercial eVTOL operations to the region by 2026. With a payment plan already in place, those efforts are expected to begin later this year.
Archer and KaKaoMobility to help bring eVTOLs to Korea
Per an update from Archer Aviation early this morning, it has signed an agreement with KaKaoMobility to jointly participate in the K-UAM Grand Challenge – a public-private demonstration held in the country to garner public support for eVTOL technology.
As part of the agreement, KaKaoMobility has agreed to pay Archer $7 million in 2024 to begin developing and establishing commercial eVTOL operations in Korea, followed by a second payment installation expected to follow in early 2025. The agreement also entitles KaKaoMobility to the purchase of up to 50 Archer Midnight eVTOLs worth approximately $250 million. Pre-delivery payments are also expected in 2025 following the Grand Challenge.
However, before then, Archer and KaKaoMobility intend to use the 2024 Grand Challenge as a public stage to demonstrate how eVTOL aircraft can transform daily commutes in Korea. The demonstrations will take place beside South Korea’s Ministry of Land, Infrastructure and Transport (MOLIT), which is hosting the event and has vowed to help commercialize urban air mobility (UAM) by the mid-2020s. Archer’s chief commercial officer, Nikhil Goel, elaborated:
Archer is expanding its international launch strategy to South Korea through this landmark partnership between Archer Aviation and KakaoMobility. Together, we are committed to revolutionizing transportation with Archer’s eVTOL aircraft, ushering in a future of cleaner, faster, and more efficient travel between and within Korean cities.
Looking ahead, KaKaoMobility intends to own and operate Archer’s eVTOL technology in South Korea and offer air taxi rides to its 30 million current app users as early as 2026. Service is expected to begin in the capital of Seoul, where, according to Archer, the average commuter spends roughly 90 minutes per day stuck in road traffic.
Archer says it will work alongside KaKaoMobility with a goal to conduct public demonstration flights in Korea by late 2024. The K-UAM Grand Challenge is currently accepting applicants and will allow five to demo their technology this coming December.
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Hyundai is about to launch a new electric SUV in China. With its big debut coming up, Hyundai just dropped a sneak peek, and it looks like it could be the IONIQ 4. Check it out for yourself in the video below.
Is Hyundai teasing the IONIQ 4?
We caught our first glimpse of the new EV model last month after Beijing Hyundai released a few official “spy” photos.
Despite the camouflage, you can see a few design elements, like a light bar across the front, slim LED headlights, and a closed-off grille. At first, it almost looks like a smaller version of the IONIQ 9, Hyundai’s first three-row electric SUV, but with a much sportier, shaped profile.
Beijing Hyundai released a new teaser for the upcoming electric SUV this week. The video shows “a wave of high-end operations” as the vehicle dances across the snow.
The video highlights features like real-time torque control, high-speed cornering, and the SUV’s impressive body control while driving around cones.
Hyundai’s new electric SUV is being called “OE” internally, according to The Korean Car Blog, suggesting it could be an IONIQ model.
All other Hyundai IONIQ EV models were also codenamed with an “E” internally, which is raising speculation that this could be the IONIQ 4.
Like most global OEMs, Hyundai is fighting to compete in an intense Chinese EV market, which is dominated by domestic automakers like BYD.
Hyundai opened its first overseas R&D center last year in China to spearhead its comeback. It will work with local suppliers and tech companies to develop EVs designed for Chinese buyers. The new electric SUV is expected to launch in China later this year, followed by three new energy vehicles, including EVs and EREVs.
Beijing Hyundai will release more information on April 16, with the electric SUV set to “challenge the limit of driving performance.”
What do you think of Hyundai’s new electric SUV? Is this the IONIQ 4? Let us know your thoughts in the comments.
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Charge point provider char.gy has secured a £130 million contract to install 6,000 curbside EV chargers for Brighton and Hove City Council (BHCC) – the UK’s largest installation of its kind.
London-based char.gy has also been awarded a 15-year contract to operate and maintain the charging network.
Installing Level 2 chargers curbside, where most drivers in the UK park, will enable more people to take advantage of cheaper charging rates while juicing up their EVs overnight. (charg.gy’s pay as you go night tariff, between midnight and 7 am, is £0.39/kWh, compared to its £0.59/kWh day tariff.)
John Lewis, chief executive of char.gy, said the project is “a huge moment for the UK and its EV ambitions. This partnership alone will empower thousands of residents to confidently make the switch to electric vehicles, knowing they have easy access to chargers.”
Brighton and Hove City Council is among the first to tap into the government’s Local EV Infrastructure (LEVI) Fund, designed to help English local authorities roll out charging solutions for residents without off-street parking. Future of Roads Minister Lilian Greenwood said making EV charging as accessible as possible is “crucial to making the switch to electric a success.”
The UK now has over 75,000 public EV chargers, according to the Department for Transport—and it looks like the country’s on pace to hit its 2030 target. Back in December, the National Audit Office said the rollout is “on track” to meet the DfT’s estimate that at least 300,000 chargers will be needed by the end of the decade.
Read more: Meet the UK’s largest solar + storage EV charging ‘Superhub’
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