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Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) and Archer Aviation Inc. (NYSE: ACHR) today announced that they have agreed to expand their partnership by joining forces to manufacture Archer’s electric vertical take-off and landing (eVTOL) aircraft called Midnight. 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 used Stellantis’ manufacturing, supply chain, and design expertise in connection with Archer’s efforts to design, develop, and commercialize its eVTOL aircraft. (Autoinformed.com: FAA Publishes Guidelines for Vertiports)
Stellantis now will work on Archer’s recently announced manufacturing facility in Covington, Georgia. The companies plan to begin manufacturing the Midnight aircraft in 2024. Midnight is claimed to be safe, sustainable, quiet and, with an expected payload of more than 1000 pounds. It can carry four passengers plus a pilot. With a range of 100 miles, Midnight is meant for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. All this of course is dependent on The Federal Aviation Administration issuing a type certificate and approving other air worthiness requirements including pilot training, flight procedures and operating limitations.
The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer.
As a further sign of its commitment, Stellantis said 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.
Stellantis also said it intends to increase its strategic shareholding through future purchases of Archer stock in the open market. “These actions, along with the other elements of this expanded partnership, will enable Stellantis to become a long-term, cornerstone investor in Archer,” said Stellantis.
“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.”
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Stellantis to Make Archer Electric Airplanes
Click for more information.
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) and Archer Aviation Inc. (NYSE: ACHR) today announced that they have agreed to expand their partnership by joining forces to manufacture Archer’s electric vertical take-off and landing (eVTOL) aircraft called Midnight. 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 used Stellantis’ manufacturing, supply chain, and design expertise in connection with Archer’s efforts to design, develop, and commercialize its eVTOL aircraft. (Autoinformed.com: FAA Publishes Guidelines for Vertiports)
Stellantis now will work on Archer’s recently announced manufacturing facility in Covington, Georgia. The companies plan to begin manufacturing the Midnight aircraft in 2024. Midnight is claimed to be safe, sustainable, quiet and, with an expected payload of more than 1000 pounds. It can carry four passengers plus a pilot. With a range of 100 miles, Midnight is meant for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. All this of course is dependent on The Federal Aviation Administration issuing a type certificate and approving other air worthiness requirements including pilot training, flight procedures and operating limitations.
The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer.
As a further sign of its commitment, Stellantis said 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.
Stellantis also said it intends to increase its strategic shareholding through future purchases of Archer stock in the open market. “These actions, along with the other elements of this expanded partnership, will enable Stellantis to become a long-term, cornerstone investor in Archer,” said Stellantis.
“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.”
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.