This latest investment builds on Stellantis’ previously announced series of open market purchases of 8.3 million shares of Archer in March of this year. In 2023, Stellantis invested $110 million in Archer through a combination of open market share purchases and investments under the strategic corporate financing agreement.
Archer remains on track to complete construction of its high-volume manufacturing facility in Georgia, USA, later this year. This first phase of construction consists of an approximately 32,500 m² facility on an approximately 40-hectare site designed to support annual production of 650 aircraft, making it one of the largest volume manufacturing sites in the aerospace industry. Archer’s goal with this facility remains to create a facility that can support its planned commercial ramp-up by leveraging Stellantis’ expertise as a contract manufacturer.
“Few things match the excitement of seeing a dream take flight. I applaud the innovation, expertise and hard work of the engineering and manufacturing teams at Stellantis and Archer,” said Carlos Tavares, CEO of Stellantis. “With this additional investment in Archer, we remain on track to a future where the freedom of mobility extends beyond today’s roads.”
“Stellantis’ commitment to Archer remains unmatched, from its foresight in providing the expertise and capital to accelerate Archer’s business goals, to the strategic vision and unwavering support of Stellantis CEO Carlos Tavares,” said Adam Goldstein, CEO of Archer. “Together, we are working to redefine urban transportation, opening new horizons for citizens around the world by providing more efficient access to people, places and events in the regions where they live.”
Stellantis has been a strategic partner of Archer since 2020 through various collaborative initiatives, and as an investor since 2021. During this time, Archer has leveraged Stellantis’ deep manufacturing, supply chain and design expertise as part of Archer’s efforts to design, develop and commercialize its eVTOL aircraft.
Archer’s goal is to transform urban travel, replacing 60- to 90-minute car rides with 10- to 20-minute electric air taxi flights that are safe, sustainable, quiet and competitive with ground transportation. Archer’s Midnight is a four-passenger piloted aircraft designed to make fast, back-to-back flights with minimal charging time between flights.
About Stellantis
Stellantis NV (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is a leading global automotive company dedicated to providing the freedom of clean, safe and affordable mobility for all. Known for its unique portfolio of iconic and innovative brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is now implementing its bold strategic plan Dare Forward 2030, to become a mobility tech company and achieve carbon neutrality by 2038, with a single-digit percentage of residual emissions offset, while creating added value for all stakeholders. For more information, visit www.stellantis.com.
About Archer
Archer has established itself as a market leader in electric aviation. We design and develop the technologies and aircraft that are essential to the next great revolution in transportation. Our goal: to use our proprietary technology to deliver unprecedented connectivity in the world’s most congested cities. Learn more at www.archer.com.
Stellantis Forward Looking Statements
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Archer Forward Looking Statements
This press release contains forward looking statements regarding Archer’s future business plans, including statements regarding its aircraft performance, the planned production capacity and timing of completion of Archer’s manufacturing facility, and the timing of Archer’s development, commercialization, and certification of its eVTOL aircraft. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Archer’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, available at www.sec.gov. In addition, please note that any forward-looking statements contained herein are based on assumptions that Archer believes to be reasonable as of the date of this press release. Archer undertakes no obligation to update these statements as a result of new information or future events.
