Stellantis has completed the purchase on the open market of 8.3 million euros of shares in ArcherAviation, an electrified aviation company that will market the electric vertical take-off and landing (eVTOL) aircraft in 2025.
This new investment from Stellantis follows CEO Carlos Tavares' recent visit to Archer's headquarters and manufacturing facilities in Santa Clara, California.
Starting from 2020 Stellantis is a strategic partner of Archera through various collaboration initiatives and from 2021 as an investor.
In January 2023 Stellantis announced its intention to exclusively produce Archer's Midnight aircraft, capable of carrying four passengers and a pilot and is considered an optimal solution for back-to-back trips of approximately 20-50 miles (32-80 kilometers), with a charging time of approximately 10 minutes.
Construction of the Archer, Georgia manufacturing facility will be completed by the end of the year.
The plant will be used to produce up to 650 aircraft per year.
"Archer has established itself as a leader in the electrified aviation market and we believe that together we could lead the next transportation revolution - explains Tavares - With this transaction, Stellantis demonstrates the trust it places in the Archer team and rewards the progress we continue to observe, the result of fruitful collaboration between our companies".
“We are close to changing the way the world moves in the sky,” said Adam Goldstein, founder and CEO of Archer. “We are working side by side with Stellantis to seize the opportunity to redefine urban transportation and deliver enormous value to cities around the world. and to our shareholders".
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