On the heels of the UAE initiative, I'm excited about our announcement earlier today that Archer and Interglobe Enterprise will India's foremost air travel and hospitality conglomerate, plan to launch an electric air taxi service together across India in 2026. Earlier this week in New Delhi, my team held a signing ceremony with Rahul Bhatia, the Group Managing Director of Interglobe, to announce our plans to work with Interglobe to bring safe, sustainable, and low-noise electric air taxi services to some of the most highly populated cities in the world. As part of the initiative, we will work with Interglobe to set up an entity that will work with select in-country business partners to operate Archer's aircraft, enhance and build vertiport infrastructure, and train pilots and other personnel needed for these operations. Interglobe and Archer also anticipate the purchase of up to 200 of our midnight aircraft as we bring up operations. India is an incredibly important market for eVTOL. And it has the potential to be one of the largest in the world, with Delhi, Bengaluru, and Mumbai being our initial focus, where congestion costs cities over $22 billion annually.

Nov 9, 2023 / CEO / receipt, needs a key / Adam Goldstein, CEO | earnings call 2023-11-09 | transcript d3327b9f-3744-4389-9521-aba5d5c506d9 | chars 10491-11669 | segment 10