Archer Aviation is partnering with Kakao Mobility to introduce electric air taxi flights to South Korea by 2026, pending the timely development of its aircraft. The collaboration will bring the Midnight eVTOL aircraft to Seoul. With this, Kakao Mobility plans to purchase and operate up to 50 of Archer’s Midnight eVTOL aircraft, valued at approximately $250 million.
Starting in Seoul, Kakao Mobility plans to offer electric air taxi rides to over 30 million registered users on its Kakao T mobile app. The Midnight aircraft, designed for urban environments, has a 100-mile range, a payload capacity of over 1,000 pounds, and can carry four passengers plus a pilot.Ā
Despite these promising features, the vehicle is still developing and awaits FAA certification. Kakao Mobility has committed $7 million to Archer this year and a second installment in January to support these early commercialization efforts.
The partnership also includes participation in Korea’s K-UAM Grand Challenge, a public-private initiative. The collaboration will culminate in a public demonstration of Archer’s Midnight aircraft in late 2024. This partnership aims to introduce eVTOL air taxi services in Seoul, a city known for its severe traffic congestion, with hopes to begin operations as early as 2026.
“The vision is clear ā€“ reduce the hours lost in traffic and elevate everyday travel with an electric air taxi service that features Archer’s Midnight aircraft,” said Christopher SungWook Chang, senior vice president of Kakao Mobility.Ā
Archer’s Midnight aircraft, which can carry four passengers and a pilot, is designed for urban travel and has a range of 100 miles. It promises to reduce commute times in Seoul, where the average commuter spends about 90 minutes in traffic daily. The aircraft is expected to offer 10ā€”to 20-minute flights, making it a cost-competitive alternative to traditional ground-based rideshare services.
Archer Aviation faces financial hurdles, having spent $83.5 million on research and development in the first quarter of 2024 alone. According to regulatory filings, the company has incurred losses amounting to $807.4 million since its inception. These losses are expected to increase as Archer focuses on delivering vehicles and establishing air taxi networks, which are projected to remain unprofitable for the foreseeable future.
In addition to its South Korean endeavors, Archer plans to launch air taxi services in Miami and San Francisco by 2025 through partnerships with United Airlines and fixed-base operator Atlantic. However, the company has not provided recent updates on these initiatives. Archer’s broader international strategy includes introducing its Midnight eVTOL in India, the United Arab Emirates, and U.S. cities such as New York and Chicago.
Archer Aviation plans to launch commercially in the United Arab Emirates and India by 2026. Competitor Joby Aviation is similarly targeting the South Korean market through a partnership with SK Telecom and UT, a joint venture with Uber and T Map Mobility that integrates air and land travel.
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