Stellantis will work with Archer to stand up Archer's recently announced manufacturing facility in Covington, Georgia at which the companies plan to begin manufacturing the Midnight aircraft in 2024.
Midnight is designed to be safe, sustainable, quiet and, with its expected payload of over 1,000 pounds, can carry four passengers plus a pilot. With a range of 100 miles, Midnight is optimized for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between.
By joining forces, Archer and Stellantis can create a formidable team to bring eVTOLs into the mainstream. Archer brings its expertise in electric powertrain design and certification, while Stellantis supplies advanced manufacturing technology knowledge as well as resources for personnel and capital investment.
As a further sign of its commitment, Stellantis will provide up to $150 million in equity capital for potential draw by Archer at its discretion in 2023 and 2024, subject to achievement of certain business milestones which Archer expects to occur in 2023.
Stellantis has been a strategic partner to Archer since 2020 through various collaboration initiatives, and as an investor since 2021. During this time, Archer has leveraged Stellantis' manufacturing, supply chain, and design expertise in connection with Archer's efforts to design, develop, and commercialize its eVTOL aircraft.
Stellantis is a company that was formed in 2021 through the merger of two auto manufacturers: PSA Group (which owned brands like Peugeot and Citroen) and FCA Group (which owned brands like Chrysler and Jeep). The company is one of the largest automakers in the world, producing and selling cars, trucks, and SUVs under a variety of different brand names.
Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility networks. Archer's team is based in Santa Clara, CA.
Source: Stellantis