Stellantis Invests Additional $55 Million In US eVTOL Aircraft Developer Archer

US electric vertical takeoff and landing (eVTOL) aircraft developer Archer has received an additional $55 million investment from Stellantis under the companies’ strategic funding agreement following the achievement of its transition flight test milestone in June, 2024. During 2023, Stellantis invested $110 million in Archer.

Archer remains on track to complete construction of its high-volume manufacturing facility in Georgia, US, later this year. 

Its goal is to establish a factory that can support its planned commercial ramp up by leveraging the expertise of Stellantis as its contract manufacturer.

Stellantis has been a strategic partner to Archer since 2020 through various collaboration initiatives, and as an investor since 2021.

During this time, Archer has leveraged Stellantis’ deep manufacturing, supply chain, and design expertise in connection with Archer’s efforts to design, develop, and commercialize its eVTOL aircraft.

Archer’s Midnight is a piloted, four-passenger aircraft designed to perform rapid back-to-back flights with minimal charge time between flights.

On June 8th, 2024, its Midnight aircraft successfully completed transition flying at a speed of 100+ mph.

Carlos Tavares, Stellantis CEO, says: “Few things rival the excitement of seeing a dream take flight. I applaud the innovation, expertise and hard work of the engineering and manufacturing teams from Stellantis and Archer. With this additional investment in Archer, we remain on course for a future where freedom of mobility extends beyond today’s roads.”

Archer CEO, Adam Goldstein, adds: “The commitment by Stellantis to Archer has been unrivaled, from its foresight to provide the manufacturing expertise and capital needed to accelerate Archer’s business objectives, to the strategic vision and steadfast support from Stellantis CEO Carlos Tavares. Together, we’re working to redefine urban transportation, opening new worlds of opportunity for citizens across the globe by providing more efficient access to people, places, and events across the regions they live in.”

Archer’s goal is to transform urban travel, replacing 60–90 minute commutes by car with estimated 10–20 minute electric air taxi flights that are safe, sustainable, low noise, and cost-competitive with ground transportation.