With a fresh $8.3 million stock purchase, automotive titan Stellantis renews faith in Archer’s innovative Midnight aircraft, marking a significant step toward the 2025 retail launch.
by DRONELIFE Staff Writer Ian J. McNabb
American VTOL developer Archer Aviation recently announced that automotive giant Stellantis purchased over $8.3 million in stock, showcasing the potential of their Midnight aircraft, set to be produced in partnership with Stellantis. This follows a recent visit by Stellantis CEO Carlos Tavares to Archer’s HQ and manufacturing facilities in Santa Clara, California. While this is not a new partnership (the business relationship between Archer Aviation and Stellantis dates back to 2021), it represents continued confidence from their massive patron in Archer’s ability to deliver their first retail units by 2025.
While it features a maximum range of up to an hour and a 1000 lb payload, the Midnight, which seats up to 4, is designed for short trips (20 minutes) followed by 10 minutes of fast charging. Construction on the first phase of Archer and Stellantis’ ~350,000 square-foot manufacturing facility on a 100-acre site in Georgia is set to be completed later this year. When production begins, the factory will be able to produce around 650 units a 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.”
“We are on the cusp of changing the way the world moves in the sky,” said Adam Goldstein, founder and CEO of Archer. “Archer and Stellantis are working side by side to realize a once-in-a-generation opportunity to redefine urban transportation and deliver tremendous value to the world’s cities and our shareholders.”
Archer has announced multiple corporate strategic partners, including United Airlines. Japanese competitor SkyDrive also recently announced an automotive partnership of their own, this time with Suzuki Motor Company.
More information on Midnight and Archer Aviation is available here.
Ian McNabb is a staff writer based in Boston, MA. His interests include geopolitics, emerging technologies, environmental sustainability, and Boston College sports.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
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[…] has reinforced its financial position with a recent infusion of US$430 million from high-profile investors including Stellantis, United, Wellington Management, and 2PointZero, bringing its total capital […]