Stellantis Invests $55M in Archer Aviation’s eVTOL Commercial Aircraft

Stellantis, which has its North American headquarters in Auburn Hills, is investing an additional $55 million in Archer Aviation Inc., which seeks to certify its electric vertical takeoff and landing (eVTOL) aircraft for commercial flights.
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Stellantis is investing an additional $55 million in Archer Aviation Inc., which seeks to certify its electric vertical takeoff and landing (eVTOL) aircraft for commercial flights. // Photo courtesy of Archer

Stellantis, which has its North American headquarters in Auburn Hills, is investing an additional $55 million in Archer Aviation Inc., which seeks to certify its electric vertical takeoff and landing (eVTOL) aircraft for commercial flights.

The investment is being made from Stellantis under the companies’ strategic funding agreement following the achievement of Archer’s transition flight test milestone last month.

This latest investment builds on Stellantis’ series of open market purchases of 8.3 million shares of Archer’s stock in March 2024 that was previously announced. During 2023, Stellantis invested $110 million in Archer through a combination of open market stock purchases and investments under the companies’ strategic funding agreement.

Archer states it remains on track to complete construction of its high-volume manufacturing facility in Georgia later this year. The first phase of the build out is a 350,000-square-foot facility on a 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.

Archer’s goal with the facility remains to establish a factory that can support its planned commercial ramp up by leveraging the expertise of Stellantis as its contract manufacturer.

“Few things rival the excitement of seeing a dream take flight. I applaud the innovation, expertise and hard work of the engineering and manufacturing teams from Stellantis and Archer,” says Carlos Tavares, CEO of Stellantis. “With this additional investment in Archer, we remain on course for a future where freedom of mobility extends beyond today’s roads.”

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.

“The commitment by Stellantis to Archer has been unrivaled, from its foresight to provide the manufacturing expertise and capital needed to accelerate Archer’s business objectives, to the strategic vision and steadfast support from Stellantis CEO Carlos Tavares,” says Adam Goldstein, CEO of Archer, which is based in Santa Clara, Calif.

“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.”

Archer’s goal is to transform urban travel, replacing 60-90-minute commutes by car with estimated 10-20-minute electric air taxi flights that are safe, sustainable, offer low noise, and are cost-competitive with ground transportation.

Archer’s Midnight is a piloted, four-passenger aircraft designed to perform rapid back-to-back flights with minimal charge time between flights. The aircraft would need to be certified by the FAA to be cleared for commercial flights.

To learn more, visit archer.com.