Shares of Archer Aviation soared more than 40 percent on July 31 after it announced it had secured contracts with the U.S. Air Force worth up to $142 million.
The San Jose, California-headquartered company—which makes electric air taxis—said in a press release that it has “significantly expanded its partnership” with the Department of Defense (DOD) and will supply the U.S. Air Force with six of its Midnight vertical takeoff and landing (eVTOL) aircraft.
