Stellantis NV and Archer Aviation Inc. (NYSE: ACHR) announced that Stellantis recently completed the open market purchase of 8.3 million shares of Archer. A demonstration of Stellantis’ confidence in Archer’s plans, committed to introducing its electric vertical take-off and landing (eVTOL) aircraft to the market starting from 2025. This new investment by Stellantis follows the recent visit of CEO Carlos Tavares to the headquarters and Archer’s manufacturing facilities in Santa Clara, California.

In January 2023 Stellantis announced its intention to exclusively produce Archer’s Midnight aircraft. A decision that allows Archer to strengthen its path towards the commercialization of the aircraft, while at the same time avoiding huge expenses related to entering the market. Construction of the Archer, Georgia manufacturing facility will be completed by the end of the year. The first phase of the works involves the construction of a plant of approximately 32,000 square meters (350,000 square feet) on an area of ​​approximately 404,000 square meters (100 acres). The plant will be used to produce up to 650 aircraft per year: it will be one of the largest facilities in the aviation industry in terms of production volumes. Midnight is designed to be safe, sustainable and quiet, and is capable of carrying four passengers and a pilot. Midnight is an optimal solution for back-to-back trips of approximately 20-50 miles (32-80 km), with a charging time of approximately 10 minutes.