Stellantis to Manufacture Archer eVTOL Aircraft, Provide Strategic Funding
by DRONELIFE Staff Writer Ian M. Crosby
Stellantis NV and Archer Aviation Inc. announced that they are expanding their partnership in order to manufacture Archer’s Midnight electric vertical take-off and landing (eVTOL) aircraft.
Continue reading below, or listen:
The partners will collaborate to establish Archer’s new Covington, Georgia-based manufacturing facility where they intend to start manufacturing the Midnight aircraft in 2024. Made to be safe, sustainable, and quiet, Midnight has an expected payload of over 1,000 pounds, and can carry four passengers in addition to a pilot. With a range of 100 miles, the aircraft is ideally suited to recurrent short distance trips of around 20 miles, with a charging time of about 10 minutes in between.
This partnership will make use of the strengths of both companies to bring the Midnight aircraft to market, relying on Archer’s world-class team of eVTOL, electric powertrain and certification experts and Stellantis’ advanced manufacturing technology and expertise, experienced personnel and capital. Leveraging the expertise of the two companies will allow for the rapid scaling of aircraft production to meet Archer’s commercialization plans, enabling Archer to strengthen its commercialization efforts by helping to reduce spending. Stellantis is intended to mass produce Archer’s eVTOL aircraft as an exclusive contract manufacturer.
Stellantis will also provide up to $150 million in equity capital for potential draw by Archer at its discretion in 2023 and 2024. The company also aims to expand its strategic shareholding via the purchase of further Archer stock. This will allow Stellantis to become a longstanding, foundational investor in Archer.
“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,” said Stallantis CEO Carlos Tavares. “Deepening our partnership with Archer as a strategic investor with plans for growing our shareholding demonstrates how Stellantis is pushing the boundaries to provide sustainable freedom of mobility, from the road to the sky. Supporting Archer with our manufacturing expertise is another example of how Stellantis will lead the way the world moves.”
“Stellantis’ continued recognition of Archer’s progress toward commercialization, 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,” said Archer CEO and founder Adam Goldstein. “Our two companies are taking these important steps together to realize a once-in-a-generation opportunity to redefine urban transportation.”
Stellantis has served as a strategic partner to Archer since 2020 via various collaboration initiatives, and as an investor since 2021. In their time working together, Archer has made use of Stellantis’ extensive expertise to support its eVTOL aircraft.
Ian attended Dominican University of California, where he received a BA in English in 2019. With a lifelong passion for writing and storytelling and a keen interest in technology, he is now contributing to DroneLife as a staff writer.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
Subscribe to DroneLife here.