Archer Aviation (ACHR.US) receives up to 100 eVTOL orders from Korean Air.

Archer Aviation (ACHR.US) has signed an agreement with Korean Air to purchase up to 100 of Archer Aviation's Midnight electric Vertical Takeoff and Landing (eVTOL) aircraft for government and commercial use. Korean Air stated in a release, "This partnership will position Korea as a leader in advanced aviation technology by leveraging Archer Aviation's cutting-edge next-generation technology and Korean Air's extensive experience in aircraft operation and maintenance in Korea." The Midnight is an electric piloted aircraft that can carry up to four passengers and achieve rapid continuous flight on minimal charging, reducing a 60-90 minute drive commute to a 10-20 minute air taxi flight. As of the time of writing, Archer Aviation's stock price has risen over 5% in pre-market trading on Monday, leading to a nearly 4% increase in the stock prices of Joby Aviation (JOBY.US) and Vertical Aerospace (EVTL.US).