Silicon Valley-based air taxi firm Archer sees more defense demand in near term

By Leen Al-Rashdan, Guy Johnson and Kate Duffy, Bloomberg

Electric aircraft maker Archer Aviation Inc. expects its defense-related sales outstripping commercial air taxis in the short term.

“In the near term the defense side could certainly become the biggest part of our business” as passenger services take time to scale up, Chief Executive Officer Adam Goldstein said in an interview with Bloomberg TV at the Paris Air Show. Shares in Archer rose as much as 7.6% in premarket trading on Monday.