Archer Aviation has received a significant $55 million investment from Stellantis, marking another milestone in their strategic partnership aimed at advancing urban air mobility. This follows Stellantis’ previous investments totaling $110 million in 2023, including stock purchases and strategic funding agreements.
The latest funding injection comes as Archer successfully achieves a transition flight test milestone, underscoring its progress in developing electric vertical take-off and landing (eVTOL) aircraft. Archer plans to utilize these funds to complete construction of a major manufacturing facility in Georgia by the end of this year. This facility, spanning approximately 350,000 square feet on a 100-acre site, is poised to become one of the largest in the aircraft industry, capable of producing up to 650 aircraft annually.
See also: Archer Aviation Partners with Signature Aviation to Bring eVTOL Air Taxis to United Airlines Hubs
Carlos Tavares, CEO of Stellantis, expressed enthusiasm about the collaboration, stating, “Few things rival the excitement of seeing a dream take flight. With this additional investment in Archer, we remain on course for a future where freedom of mobility extends beyond today’s roads.”
Archer CEO Adam Goldstein highlighted the strategic importance of Stellantis’ support, emphasizing their shared vision to revolutionize urban transportation. “Together, we’re working to redefine urban transportation, opening new worlds of opportunity for citizens across the globe,” said Goldstein.
See also: Archer Receives FAA Certification for Commercial Air Taxi Operations
Since their partnership began in 2020, Stellantis has provided Archer with crucial manufacturing, supply chain, and design expertise to accelerate the development and commercialization of its eVTOL aircraft. Archer aims to transform urban travel by offering electric air taxi flights that are safe, sustainable, and competitive with ground transportation, significantly reducing commute times in congested cities.
Archer’s flagship aircraft, the piloted four-passenger Midnight, is designed for rapid, efficient travel with minimal charge time between flights. The company envisions a future where electric air taxis offer swift transportation alternatives, enhancing mobility and accessibility for urban dwellers worldwide.
See also: Archer Aviation Partners with KaKaoMobility to Bring eVTOL Travel to South Korea
