Archer Attracts Further “USD55 Million Investment from Stellantis” Following Recent Flight Test Milestone

Archer Avi­a­tion announced this week an addi­tion­al USD55 mil­lion invest­ment from car man­u­fac­tur­er, Stel­lan­tis, who is sup­port­ing the fly­ing taxi company’s eVTOL devel­op­ment, reports a press release. This lat­est fund­ing is part of a strate­gic finan­cial agree­ment fol­low­ing the achieve­ment of Midnight’s tran­si­tion flight test mile­stone in June. 

This invest­ment builds on Stel­lan­tis’ series of open mar­ket pur­chas­es of 8.3 mil­lion shares of Archer’s stock in March (worth USD39 mil­lion) and last year’s USD110 invest­ment via a com­bi­na­tion of open mar­ket stock pur­chas­es and invest­ments.

In fact, Stel­lan­tis has been an inte­gral part­ner for Archer since 2020 through var­i­ous col­lab­o­ra­tion ini­tia­tives and as an investor since 2021. Dur­ing this peri­od, Archer has lever­aged Stel­lan­tis’ expan­sive man­u­fac­tur­ing, sup­ply chain, and design exper­tise in con­nec­tion with its efforts to design, devel­op, and com­mer­cialise an eVTOL air­craft.

Adam Gold­stein, the CEO of Archer com­ment­ed, “The com­mit­ment from Stel­lan­tis has been unri­valled, from its fore­sight to pro­vide the man­u­fac­tur­ing exper­tise and cap­i­tal need­ed, to accel­er­at­ing Archer’s busi­ness objec­tives.”

He con­tin­ued, “Togeth­er, we’re work­ing to rede­fine urban trans­porta­tion, open­ing new worlds of oppor­tu­ni­ty for cit­i­zens across the globe by pro­vid­ing more effi­cient access to peo­ple, places and events across the regions they live in.”

Car­los Tavares, the CEO of Stel­lan­tis, added, “Few things rival the excite­ment of see­ing a dream take flight. With this addi­tion­al invest­ment, we remain on course for a future where free­dom of mobil­i­ty extends beyond today’s roads.”

Geor­gia Facil­i­ty Con­struc­tion

Archer remains on track to com­plete con­struc­tion of its high-vol­ume man­u­fac­tur­ing facil­i­ty in Geor­gia lat­er this year. This first phase of the build out is a 350,000 sq. ft facil­i­ty on an 100 acre site designed to sup­port pro­duc­tion of up to 650 air­craft annu­al­ly, which would make it one of the largest man­u­fac­tur­ing facil­i­ties by vol­ume in the air­craft indus­try. 

For more infor­ma­tion

www.archer.com

www.stellantis.com

(Top image: Mid­night Air­craft fly­ing dur­ing its tran­si­tion flight tri­al mile­stone)

For the lat­est news, insights and con­tent regard­ing the glob­al Advanced Air Mobil­i­ty mar­ket, please join the fol­low­ing eVTOL Insights chan­nels: What­sApp, Face­book, Insta­gram, Spo­ti­fy, Apple Pod­casts, YouTube, X and LinkedIn.