Stellantis Partners with Archer for Archer's eVTOL Aircraft

4th January, 2023

• Stellantis and Archer Aviation will expand their partnership to manufacture Archer's eVTOL aircraft, Midnight, at Archer's Georgia facility from 2024.
• Midnight is designed for safety and sustainability, capable of carrying four passengers and a pilot over short distances with a 100-mile range and 10-minute charging time.
• Stellantis will contribute advanced manufacturing technology and expertise, experienced personnel, and capital to enable aircraft manufacturing.
• The goal is for Stellantis to mass-produce Archer’s eVTOL aircraft as its exclusive contract manufacturer.
• Stellantis will provide up to $150 million of equity capital for a potential draw by Archer at its discretion in 2023 and 2024
• Stellantis intends to increase its strategic shareholding in Archer through future purchases of Archer stock in the open market

Source: Stellantis

B.O