Archer Aviation (NYSE: ACHR) and Stellantis (NYSE: STLA) today said today in Le Bourget, France that their strategic manufacturing partnership is well underway on the world’s first high-volume eVTOL – electric vertical take-off and landing aircraft at a manufacturing facility located in Covington, Georgia. Stellantis increased its strategic shareholding of Archer through a series of purchases of Archer stock in the open market on 19 June 2023. (AutoInformed: Paris Air Show – Stellantis and Archer to Debut eVTOL Aircraft)

Stellantis previously 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 predicted will occur during 2023. If AutoInformed’s math is right, manufacturing aircraft at the forecast volumes would make Covington the world’s leading aircraft manufacturing facility by volume.