RIYADH, May 21 (Reuters) – Saudi Arabia has begun courting Archer Aviation, following the electric air taxi company’s announcement of a partnership with economic and regional rival, the United Arab Emirates.

The competition between the countries to become the top hub in the region is leading to big spending, benefiting new companies like Archers.

Last month, Archer signed a pact with the Abu Dhabi Investment Office for multi-million dollar investments to speed up planned commercial air taxi operations in the UAE.

“Since we made our first several announcements in the UAE that has piqued interest” across the region and especially in Saudi Arabia, said Nikhil Goel, chief commercial officer for Archer.

Now, Goel said Archer was in talks with Saudi on potential partnerships in Riyadh, Jeddah, and some of its multi-billion dollar projects in the kingdom.

Archer Aviation, backed by the likes of Chrysler-parent Stellantis, Boeing and United Airlines, is developing electric vertical takeoff and landing (eVTOL) aircraft that have been touted as the future of urban air mobility.

Reuters