Stellantis continues to invest in Archer

Air taxi Stellantis continues to invest in Archer

2024-03-19 Source: Press release | Translated by AI 1 min Reading Time

Stellantis continues to bet on Archer Aviation, having acquired around 8.3 million shares of the eVTOL manufacturer. This company aims to launch electric vertical takeoff and landing aircraft by 2025.

Stellantis has been an investor in eVTOL manufacturer Archer since 2021. The automaker has now acquired an additional 8.3 million shares.(Image: Stellantis) — Stellantis has been an investor in eVTOL manufacturer Archer since 2021. The automaker has now acquired an additional 8.3 million shares.
(Image: Stellantis)

In January 2023, Stellantis announced that it would take over the serial production of Archer's Midnight aircraft as the exclusive contract manufacturer, thus accelerating commercialization. The first construction phase of an Archer production facility in Georgia, designed for high volume production, is on schedule and is expected to be completed later this year. This first phase includes the construction of a production facility on approximately 8 acres within a roughly 100-acre site. This facility can manufacture up to 650 aircraft per year.

Strategic partnership

The Midnight eVTOL from Archer can carry four passengers plus a pilot and is optimized for consecutive short-haul flights of about 30 to 80 km, with the charging time in between being about ten minutes.

Since 2020, Stellantis has been a strategic partner of Archer. In addition to various collaboration initiatives, the automaker has also been an investor in Archer since 2021. During this period, Archer has leveraged Stellantis's manufacturing, supply chain, and design expertise. (se)

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