stellantis and Archer Aviation They agreed to join forces for Build the Midnight electric plane, an eVTOL (electric vertical clearance and landing aircraft), one of Archer’s flagships. With a description, the working firm Carlos Tavares He announced that the airline will be working with Archer to build their manufacturing facility in Covington (Georgia, USA), where they will begin manufacturing Midnight in 2024. The goal is for Stellantis to mass-produce the aircraft as its own private manufacturer. and automobile group It will invest 150 million dollars (141.2 million euros at current exchange rate).
The Midnight model has a carrying capacity of more than 453 kilograms, allowing it to carry four passengers and a pilot. Also, with a range of 100 miles, it’s ideal for short consecutive trips of around 20 miles with a charge time of around 10 minutes in between.
“This unique association in the urban air mobility industry will leverage the respective strengths and competencies of each company to bring the Midnight aircraft to market,” said Stellantis.
Archer will bring the eVTOL team, electric powertrain and certification experts to the project. Stellantis will contribute advanced manufacturing technology and expertise, experienced staff and capital. “The purpose of this combination is to enable rapid expansion of aircraft production to meet Archer’s commercialization plans. Allows Archer to strengthen its commercialization path”, both companies pointed out.
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As a sign of its commitment, Stellantis will provide this $150 million equity stake. So Archer can retire them in 2023 and 2024 at his own discretion.Subject to meeting certain business milestones that Archer expects to occur in 2023.
Stellantis also plans to increase its stake in the company. future purchases of Archer shares on the open market. These actions, along with other elements of the expanded partnership, will make Stellantis a key long-term investor in Archer.
“We have been working closely with Archer for the past two years and I am consistently impressed by your creativity and unwavering commitment to delivery.”, Tavares pointed out.