Stellantis and Archer Aviation have announced that they are to embark on a joint venture to manufacture Archer’s flagship electric vertical take-off and landing aircraft, Midnight. This will significantly expand their already existing partnership.
The release stated that 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.
The aircraft has been designed to be “safe, sustainable, quiet and, with its expected payload of over 1,000 pounds, can carry four passengers plus a pilot. Midnight has a range of 100 miles which means it is ideal for back-to-back short distance trips of around 20 miles, with a charging time of around 10 minutes.
“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.”
The partnership will utilise Archer’s world-class team of eVTOL, electric powertrain and certification experts while Stellantis will contribute advanced manufacturing technology and expertise, experienced personnel and capital.
“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.”
The two companies have been in a strategic partnership since 2020. Stellantis has said that as a further sign of its commitment it 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.