Stellantis to Help Fund Archer's air Taxi Manufacturing Costs

Stellantis is to contribute up to $400 million to help scale Archer’s manufacturing of 650 Midnight aircraft annually. Stellantis will help cover manufacturing labour costs as well as certain capital expenditures at Archer’s Georgia manufacturing facility through 2030.

This is in addition to Stellantis’ investment of $55 million in equity investment in Archer announced in July, 2024.

Midnight, Archer’s piloted, four-passenger electric aircraft, is designed to offer passengers a sustainable, low-noise, and safe alternative to ground transportation.

Ther air taxi developer has also unveiled plans for a Los Angeles air taxi network.

This planned network includes vertiports at key locations such as Los Angeles International Airport (LAX), Orange County, Santa Monica, Hollywood Burbank, Long Beach and Van Nuys.

As part of its planning, Archer is coordinating with the Los Angeles Rams to collaborate on potential exclusive vertiports at Woodland Hills and at Hollywood Park, the 300-acre district centered around SoFi Stadium. 

Archer’s goal is to begin its LA network operations by as early as 2026.

Adam Goldstein, Archer’s CEO, says: “This has been one of Archer’s most productive quarters yet. From Midnight’s first transition flight, to the progress we’ve made on the build out of high-volume manufacturing facilities alongside Stellantis, to the commercial progress we’re making with Southwest, United, and more—we are working tirelessly to enable commercial operations all over the world. Our indicative order book now sits at nearly $6B. With the additional funding and planned LA network we announced today, Archer is well positioned to meet our goal of commercialization as early as next year.”

Archer's Midnight travels at speeds up to 150 mph.