According to the Stellantis statement, Stellantis is joining forces to launch the production facility Archer recently announced in Covington, Georgia. The 2 companies plan to start producing the Midnight aircraft in 2024.
Midnight; It is designed to operate safely, sustainably and quietly, and with a carrying capacity of over 454 kilograms, it can carry 4 passengers and a pilot. The Midnight has a range of 100 miles, optimized for short-haul trips of about 20 miles on a charge of about 10 minutes.
The partnership in the urban air transport industry will leverage each company’s strengths and competencies to bring the Midnight aircraft to market.
Archer’s top eVTOL team will provide electric powertrain and certification expertise, while Stellantis will contribute to the partnership with advanced manufacturing technology and expertise, experienced staff and capital. This combination will help meet Archer’s commercialization plans to rapidly scale aircraft production and strengthen Archer’s path to commercialization without spending hundreds of millions of dollars moving into production.
Stellantis aims to mass-produce Archer’s eVTOL aircraft as an exclusive contract manufacturer.
Stellantis will also voluntarily provide up to $150 million in equity against Archer’s possible withdrawal in 2023 and 2024, based on the achievement of Archer’s 2023 business goals.
Stellantis also plans to increase its strategic shareholding by purchasing Archer shares in the free market in the future. All these actions, along with other elements of the expanded partnership, will make Stellantis a key long-term investor in Archer.
– “WE ARE SHAPING THE MOBILITY OF TOMORROW”
Stellantis Chief Executive Officer (CEO) Carlos Tavares, whose views are included in the statement, stated that they have been working closely with Archer for the last 2 years and noted that he was very impressed with their creativity and determination to reach their goals.
Tavares said, “Deepening our partnership with Archer as a strategic investor with plans to grow our shareholding demonstrates how Stellantis is pushing the boundaries to deliver sustainable mobility freedom from roads to sky. By supporting Archer with our manufacturing expertise, we are shaping the mobility of tomorrow at Stellantis.” used his statements.
Archer Founder and CEO Adam Goldstein said: “Stellantis’ continued support of Archer towards commercialization and joining forces to manufacture the Midnight aircraft with us puts Archer in a strong position to be first in the market. The two companies re-engineered urban mobility. “We are taking these important steps together to realize a rare opportunity to define made its assessment.
Stellantis has been Archer’s strategic partner as different joint ventures since 2020 and investor since 2021. During this time, Archer has leveraged Stellantis’ deep-rooted manufacturing, supply chain and design expertise in conjunction with Archer’s efforts to design, develop and commercialize the eVTOL aircraft.