Stellantis joins Archer Aviation to manufacture the latter's flagship electric Vertical Take-Off And landing (eVTOL) aircraft, Midnight.
Archer’s Midnight eVTOL is designed to carry four passengers plus a pilot. Midnight will be optimised for back-to-back short-distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between.
A strategic partner to Archer since 2020 through various collaboration initiatives, Stellantis also invested in the company in 2021. Archer has leveraged Stellantis’ deep manufacturing, supply chain, and design expertise to design, develop, and commercialise its eVTOL aircraft.
Stellantis will work with Archer to stand up the latter’s recently announced manufacturing facility in Covington, Georgia, USA. Both companies plan to start manufacturing Midnight eVTOLs in 2024.
Carlos Tavares, CEO, Stellantis, said, “We’ve been working closely with Archer for the past two years, and I am continually impressed by their ingenuity and unwavering commitment to deliver.”
Tavares said that deepening his company’s partnership with Archer as a strategic investor with plans for growing its shareholding demonstrated how Stellantis is pushing the boundaries to provide sustainable freedom of mobility from the road to the sky.
Stellantis will provide up to $ 150 million in equity capital for a potential draw by Archer at its discretion in 2023 and 2024, subject to the achievement of certain business milestones which Archer expects to occur in 2023. Stellantis also said it intends to increase its strategic shareholding through future purchases of Archer stock in the open market.
Adam Goldstein, Founder and CEO, Archer, said, “Stellantis’ continued recognition of Archer’s progress towards commercialisation, and today’s commitment of significant resources to build the Midnight aircraft with us, places Archer in a strong position to be first to market. Our two companies are taking these important steps together to realise a once-in-a-generation opportunity to redefine urban transportation.”
Stellantis will contribute advanced manufacturing technology and expertise, experienced personnel and capital to the partnership, while Archer will bring its world-class team of eVTOL, electric powertrain and certification experts.
The partnership with Stellantis will allow the rapid scaling of aircraft production to meet Archer’s commercialisation plans while allowing Archer to strengthen its path to commercialisation by helping it avoid hundreds of millions of dollars of spending during the manufacturing ramp-up phase.
Stellantis is one of the world’s leading automakers and mobility providers, with its automotive brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram and Vauxhall.
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