Stellantis N.V. and Archer Aviation Inc. have announced their plans to significantly expand their partnership by collaborating on the production of Archer’s electric vertical take-off and landing (eVTOL) aircraft, Midnight.
Stellantis will assist Archer in establishing a manufacturing facility in Covington, Georgia, where the companies aim to begin producing the Midnight aircraft in 2024.
The Midnight is designed to be safe, sustainable, and quiet, with a payload capacity of over 1,000 pounds and the ability to carry four passengers plus a pilot. It has a range of 100 miles and is optimized for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in between.
The partnership will combine Archer’s expertise in eVTOL, electric powertrain, and certification with Stellantis’ advanced manufacturing technology, experienced personnel, and capital. This will allow for the rapid scaling of aircraft production to meet Archer’s commercialization plans and strengthen Archer’s path to commercialization by reducing the cost of the manufacturing ramp-up phase.
The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer. As a further sign of its commitment, Stellantis will provide up to $150 million in equity capital for potential draw by Archer in 2023 and 2024, subject to certain business milestones. Stellantis also plans to increase its strategic shareholding through future purchases of Archer stock in the open market, making it a long-term, cornerstone 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 Carlos Tavares, Stellantis CEO. “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 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.”
Stellantis and Archer have been strategic partners since 2020, with Stellantis serving as an investor since 2021. During this time, Archer has utilized Stellantis’ extensive manufacturing, supply chain, and design expertise in the design, development, and commercialization of its electric vertical take-off and landing (eVTOL) aircraft.
