Stellantis and Archer join forces to produce Archer’s Midnight eVTOL aircraft.
The Italian-American automaker will contribute advanced technologies and manufacturing capabilities, as well as providing experienced personnel and capital to enable production of the aircraft.
Stellantis’ contribution will enable Archer to strengthen its path to commercialization, helping the partner company to reduce spending by hundreds of millions of dollars
Stellantis’ goal is to mass-produce Archer’s eVTOL aircraft under an exclusive contract.
In addition, Stellantis will provide $150 million of equity capital for potential use by Archer, at its discretion in 2023 and 2024.
Finally, the Italian-American automaker intends to increase its strategic stake through future purchases of Archer shares on the open market.