Electric vertical take-off and landing (VTOL) aircraft manufacturer start-up Archer has launched in the US.

The company is focused on redesigning urban air mobility to help saving time.

Walmart e-commerce CEO Marc Lore is the largest investor in the company.

The aerospace company is led by co-founders Brett Adcock and Adam Goldstein, who recently sold marketplace start-up Vettery for more than $100m.

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Lore said: “As we look towards the future of transportation, it’s essential to invest in solutions that work to reduce traffic congestion and environmental impact while providing consumers with the swiftest, safest alternatives.

“I am a firm believer in Archer and the role it will play in ushering in the next age of urban travel.”

Archer’s battery-powered aircraft is being designed as a cost-effective urban transportation option capable of transporting four passengers for up to 60 miles. It can travel at speeds of up to 150mph.

Additionally, it will offer reduced noise when compared with helicopters.

The company will initially emphasise on regions with heavy traffic congestion.

Adcock said: “Archer aims to lead the new third dimension of sustainable travel in urban environments.

“Our sights are set on the sky and to get there, we’re focused on hiring the top engineering talent to design, manufacture, and operate a fully electric VTOL aircraft to bring in the new age of transportation.”