Stellantis (NYSE: STLA), announced an additional $55 million investment in Archer Aviation Inc. (NYSE: ACHR), a pioneer in electric vertical takeoff and landing (eVTOL) air taxi aircraft.
This investment reinforces the strong partnership between the two companies and fuels Archer’s progress towards revolutionizing urban transportation.
Stellantis is a global leader in the development of clean mobility solutions. The latest funding follows Archer’s successful completion of a critical transition flight test milestone last month.
It builds on Stellantis’ previous commitment, which included open market purchases of 8.3 million Archer shares in March 2024. Prior to this, the company made a $110 million investment throughout 2023.
Archer Moves Towards Production
Archer is on track to finalize construction of its massive manufacturing facility in Georgia by year-end.
Spanning 350,000 square feet across a 100-acre site, this facility has the potential to become one of the largest eVTOL production plants globally. When fully operational, it will churn out up to 650 air taxi aircraft annually.
By leveraging Stellantis’ extensive manufacturing expertise as its contract manufacturer, Archer aims to establish a robust production line to support its upcoming commercial launch.
“Witnessing innovation take flight is truly inspiring,” said Carlos Tavares, CEO of Stellantis. “We commend the exceptional work and dedication of the engineering and manufacturing teams at both Stellantis and Archer.”
“This additional investment strengthens our commitment to a future where mobility extends beyond the limitations of today’s roads.”
Stellantis-Archer Historical Relationship
“Stellantis’ unwavering commitment to Archer has been instrumental,” stated Adam Goldstein, CEO of Archer Aviation.
“From providing the necessary manufacturing expertise and capital to accelerate our business goals to the unwavering support and strategic vision of Carlos Tavares, Stellantis has been a true partner.”
“Together, we are redefining urban transportation, creating a world where people have efficient access to destinations within their regions. This opens up new opportunities for citizens globally.”
The partnership between Stellantis and Archer dates back to 2020, encompassing various collaborative initiatives.
Throughout this period, Archer has benefitted from Stellantis’ deep knowledge in manufacturing, supply chain management, and design, all crucial aspects of developing and commercializing its eVTOL aircraft.
About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is a global automotive leader dedicated to providing clean, safe, and affordable freedom of mobility for all.
Its portfolio boasts renowned and innovative brands like Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move, and Leasys.
Stellantis is actively pursuing its Dare Forward 2030 strategic plan, a roadmap to achieve carbon net zero status by 2038, with a single-digit percentage offset for remaining emissions.
This ambitious goal aligns with the company’s commitment to creating sustainable value for all stakeholders.
Archer and Air Taxis
Archer envisions a future where electric air taxi aircraft replace lengthy commutes by car. Their eVTOL aircraft, Midnight, promises safe, sustainable, and low-noise transportation with rapid back-to-back flights and minimal charging time.
Designed for four passengers with a pilot, Midnight aims to offer a cost-competitive alternative to traditional ground transportation, revolutionizing urban mobility.
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