Multinational automaker Stellantis has announced an expanded partnership with US firm Archer to build its eVTOL aircraft on a large scale, as reported by Tech Crunch.
“The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer.”
Stellantis and Archer
Notably, this major announcement occurred on January 4 during CES 2023 in Las Vegas.
Expanded partnership
Under the terms of the new agreement, the Franco-Italian-American automaker will offer Archer $150 million in equity capital in 2023 and 2024 at its own discretion.
“We are here to support, not to control.”
Stellantis CEO Carlos Tavares
In return, Stellantis will be the exclusive contract manufacturer for the startup-turned-publicly traded firm’s Midnight eVTOL aircraft.
Furthermore, the automaker will also aid Archer in constructing its planned production plant in Covington, Georgia. The partners expect to begin production in the said plant by 2024.
According to a joint statement, the two companies set a yearly production target of 2,300 aircraft.
Initial partnership
In retrospect, 2020 saw the beginning of Stellantis’ partnership with Archer Aviation. It gave Archer access to its extensive supply network and other expertise.
Thereafter, a collaborative arrangement between Stellantis and the aviation company was expanded in February 2021. In the same month, Atlas Crest Investment Corp. and Archer declared their intention to merge to go public.
Archer’s Midnight aircraft
The Midnight aircraft is an eVTOL vehicle capable of carrying four passengers besides the Pilot.
It boasts a 1,000 pounds payload capacity and a 100 miles (161 km) pilot range.
The air taxi is purposely built for back-to-back short-distance trips up to 20 miles. Furthermore, it has a charging time of about 10 minutes in-between.
Certification
In December, the FAA released its proposed Airworthiness Criteria for the Midnight aircraft in the Federal Register. According to Archer, Midnight will be certified by the FAA in the latter half of 2024. Then, it will employ it as a component of its 2025 network for urban air mobility.
Furthermore, Stellantis also announced that it intends to expand its strategic share in Archer by acquiring additional stocks on the open market in the future.
It is not surprising that commercial enterprises and emerging entrepreneurs are lining up to invest in air taxis because eVTOL is such an amazing technological advancement. It can take off and land vertically to transport passengers on short trips, avoiding traffic.
