Archer Aviation CEO Adam Goldstein joins TheStreet to discuss what it will be like for passengers to rideshare on planes instead of cars.
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00:00 Talk to me about the experience of actually getting inside of one as a potential passenger
00:04 or someone who's going to use it for maybe cargo or you and I were talking off air before
00:09 about some other purposes.
00:10 What does this actually look like for a person who might see one for the first time?
00:14 So the original go-to-market use case is going to be around moving people and specifically
00:19 from urban areas in and around those urban areas.
00:23 And so we like to really start with a use case that people understand, which are city
00:27 centers to airports.
00:28 So think about being here in Manhattan and having to drive out to Newark.
00:32 It's a four o'clock and the traffic is just absolutely killer.
00:36 It's going to take you 90 minutes.
00:37 Maybe you bake in 120 minutes because you don't know how long you're anxious.
00:41 Now instead of taking that trip on the ground, you go to a vertical port.
00:45 There's already one down here on Wall Street.
00:47 There's one already built on the West side on 34th Street.
00:51 You go into one of those vertical ports, you take the vehicle and you land not only just
00:55 at the airport, but behind security.
00:57 So you not only can skip the trip to the airport, you can actually skip the entire airport itself.
01:02 And that's what we're hoping to bring here to market in 2025.
01:05 Every time there's a new, very cool technology that gets introduced, oftentimes, as you know,
01:10 the price point a little bit out of range for a lot of people, right?
01:12 As you try and scale it, you try and adopt it, make it more of a competitive price point.
01:17 What do you see that evolution looking like to really ensure that as many people as possible
01:22 who want to take advantage of this technology are able to do so in time?
01:25 Yeah, it's a great question.
01:27 When you think about rideshare going from a city center to an airport, they have to
01:32 sit in that 90 minute traffic too.
01:34 And so it limits the total amount of trips that a car on the ground can take.
01:38 But when you fly, there's no traffic and it's very, very short because you're flying as
01:43 the crow flies and you can fly very, very fast.
01:46 And so you can do a lot of trips per day.
01:48 And so because you can do a lot of trips per day and because these vehicles are electric
01:52 and they don't need to be maintenanced as much as piston or combustion vehicles like
01:56 helicopters, you can actually generate a lot more business with these vehicles.
02:00 Ultimately, we're laying the benefits back to the consumers in the form of lower prices.
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