Remember the grubby flying taxi Bruce Willis drove in “The Fifth Element”? That was a very 90s view of the future. In reality, we may soon be taking up to 60-mile rides in sleek, elegant, and perhaps most importantly, emission-free electric planes. Media reported this week a California-based startup called Archer was going public through a deal with a special-purpose acquisition company. SPAC deals are becoming increasingly popular, especially in the electric vehicle area, as a much quicker way to raise money on the stock market than traditional initial public offerings. Archer, which has developed a vertical takeoff and landing aircraft (eVTOL), is expected to be worth as much as $3.8 billion after the deal with Atlas Crest Investment Corp. The deal itself is seen to raise $1.1 billion for the company. And this is not all. United Airlines has already ordered $1 billion worth of eVTOL aircraft, with […]