Stellantis to build Archer electric aircraft
January 5, 2023 By Jon Robinson
Stellantis N.V. of Amsterdam and Archer Aviation Inc. of Santa Clara reached a deal to expand their partnership and jointly manufacture Archer’s electric vertical take-off and landing (eVTOL) aircraft, Midnight. This will include ramping up Archer’s recently announced manufacturing location in Covington, Georgia, where the companies plan to begin manufacturing the Midnight aircraft in 2024.
The goal of the agreement is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer.
Midnight is expected to hold a payload of more 1,000 pounds with the ability to carry four passengers plus a pilot. With a range of 100 miles, Midnight is being engineered for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes.
Archer brings a team of eVTOL, electric powertrain and certification experts to the expanded partnership agreement and Stellantis contributes advanced manufacturing technology and expertise, as well as and capital to the partnership.
Stellantis will provide up to US$150 million in equity capital for potential draw by Archer at its discretion in 2023 and 2024, subject to reaching business milestones which Archer expects to occur in 2023.
“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 Carlos Tavares, CEO, Stellantis. “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.”
Stellantis has been a strategic partner to Archer since 2020 through various collaboration initiatives, and as an investor since 2021. Its customers include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys, among others.
“[Stellantis’] commitment of significant resources to build the Midnight aircraft with us, places Archer in a strong position to be first to market,” said Adam Goldstein, founder and CEO of Archer. “Our two companies are taking these important steps together to realize a once-in-a-generation opportunity to redefine urban transportation.”