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-0.000400764535421444 -0.000400764535421444 -0.00194216659473456 -0.00487083050742957 0.00114063752389167 0.00345274061286149 -0.00508662679573345 -0.0160922374992293
Stock impact report

Archer Accuses Flying Taxi Rival Joby Of Depending On Chinese Suppliers [zero hedge]

Archer Aviation Inc. Class A (ACHR) 
Company Research Source: zero hedge
Archer Accuses Flying Taxi Rival Joby Of Depending On Chinese Suppliers Authored by Andrew Moran via The Epoch Times, Flying taxi maker Archer Aviation has alleged that its rival Joby Aviation has been misleading regulators and investors for years by hiding its connections to China. In a March 9 filing in federal court in California, Archer accused Joby of running a manufacturing unit in Shenzhen, China, for more than a decade that received government grants intended to spur technological development and of carrying out fraudulent business practices that gave it an improper competitive edge. “Joby has falsely presented itself as a domestically rooted, American-made, fully vertically integrated aviation company while covertly relying on its Chinese manufacturing subsidiary,” Archer alleged in the filing. The lawsuit alleges that the company later hid aerospace components shipped from that facility by falsely labeling thousands of pounds of imported components as mundane consumer goods Show less Read more
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