What it will be like to rideshare in the sky

Archer Aviation CEO Adam Goldstein joins TheStreet to discuss what it will be like for passengers to rideshare on planes instead of cars.

Transcript

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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