Stellantis increases investment in eVTOL maker Archer

March 18, 2024

Stellantis has completed a series of open market purchases of approximately 8.3 million shares of Archer’s stock, demonstrating Stellantis’ ongoing confidence in Archer’s plans to introduce electric vertical take-off and landing (eVTOL) aircraft to the market by 2025.

Archer’s Midnight aircraft is designed to be safe, sustainable, quiet and capable of carrying four passengers plus a pilot. The aircraft is optimized for back-to-back short-distance trips of around 20-50 miles, with a charging time of approximately 10 minutes in-between.

The increased investment in Archer by Stellantis follows a recent visit by CEO Carlos Tavares to Archer’s headquarters and manufacturing facilities in Santa Clara, California.

In January 2023, Stellantis announced its intention to mass-produce Archer’s Midnight aircraft as its exclusive contract manufacturer. This arrangement is expected to help Archer strengthen its path to commercialization by avoiding significant expenditure.

The first phase of Archer’s 350,000 square foot facility in Georgia is planned for later this year, they anticipate producing up to 650 aircraft per year.

“Archer has established itself as a market leader in the electrification of aviation and we believe that together we can usher in the next transportation revolution,” said Stellantis CEO Carlos Tavares. “This recent move by Stellantis signals our confidence in Archer’s team and the progress we see firsthand through our deep partnership.”