Reported 5 months ago
Saudi Arabia is seeking to attract Archer Aviation, an electric flying taxi company, after the company's partnership with the United Arab Emirates. The competition between the two Gulf countries to establish themselves as the top aviation hub in the region is driving substantial investments, benefiting companies like Archer. The potential partnerships with Saudi Arabia could involve projects in Riyadh, Jeddah, and other multi-billion dollar initiatives in the kingdom. Archer Aviation, supported by major companies like Boeing and United Airlines, is developing electric vertical takeoff and landing aircraft for urban air mobility, tapping into the region's wealthy resources for growth. Riyadh's aviation industry is expanding to reduce dependence on oil, with plans for a new airline, airport, and aircraft orders, while Dubai is pursuing similar ambitions. The rapid growth of the eVTOL industry presents opportunities, but only a few startups are expected to survive the competitive landscape.
Source: YAHOO