In this article

JOBY

ACHR

Follow your favorite stocks CREATE FREE ACCOUNT

The Federal Aviation Administration said Friday it is launching a pilot program to speed up the rollout of air taxis.

Archer Aviation and Joby Aviation , major players in the electric vertical takeoff and landing, or eVTOL, space, said they are participating in the program. Shares of each were higher on Friday.

The program will establish at least five projects through public-private partnerships with state and local governments to promote safe usage of eVTOL aircraft.

"The next great technological revolution in aviation is here," said U.S. Transportation Secretary Sean Duffy in a release. "The United States will lead the way, and doing so will cement America's status as a global leader in

See Full Page