Stellantis announced its increased investment in Archer, a company that promises to launch electric vertical takeoff and landing (eVTOL) aircraft from 2025, with the purchase of approximately 8.3 million shares.
Stellantis’ increased investment in Archer follows its CEO Carlos Tavares’ recent visit to Archer’s headquarters and production facilities in Santa Clara, California.
It is worth noting that in January 2023, Stellantis announced its goal for the company to mass-produce Archer’s Midnight aircraft as its exclusive contracted manufacturer, allowing the American company to strengthen its path to commercialization, helping it avoid hundreds of millions of dollars in expenses.
In a statement, Stellantis mentioned that the “construction of the first phase of Archer’s high-volume manufacturing facilities in the state of Georgia, USA, remains on track for completion by the end of the current year. The first phase includes the construction of approximately 32,116 m2 on a site of about 40.5 hectares, a structure designed for the production of up to 650 aircraft per year.”
The Archer Midnight aircraft was designed to be safe, sustainable, quiet, and carry four passengers and one pilot. The Midnight is optimized for consecutive short trips of about 32 to 80 kilometers, with a charging time of approximately 10 minutes between them.
“Archer has established itself as a market leader in aviation electrification and we believe that together we can usher in the next revolution in transportation”, stated Carlos Tavares, CEO of Stellantis.
