Stellantis recently increased its strategic stake in Archer through a series of acquisitions of shares in the company on the open market. Archer’s Midnight aircraft currently on display at Paris Air Show
Archer Aviation Inc. and Stellantis N.V. today announced the evolution of their strategic manufacturing partnership during the Paris Air Show 2023. As construction of the world’s first large-scale eVTOL aircraft manufacturing facility, located on an approximately 40-hectare campus in Covington, Georgia, progresses, Stellantis has expanded its strategic equity stake through a series of open market purchases of Archer stock.
“The teams at Stellantis and Archer are moving full speed ahead in execution to ensure we meet our goal of beginning scalable production of Archer’s aircraft by mid-2024,” said Stellantis CEO Carlos Tavares. “We believe this unique partnership is setting a new standard for collaboration across industries and continues to be a key pillar in consolidating Stellantis’ strategy to lead the way the world moves by providing freedom of mobility in every sense. With our experienced teams working side by side with Archer, I have no doubt that we are on the right track.”
“At Archer, our goal is not just to get to commercialization, but to do it on a large scale. High volume manufacturing is critical to ensure we can achieve that goal, and joining forces with one of the world’s leading mobility companies is helping us realize this once-in-a-generation opportunity we have to redefine urban transportation,” said Archer founder and CEO Adam Goldstein. “I couldn’t be more proud of what we have already accomplished with this partnership, as well as continuing to lead the industry with expanded manufacturing capacity.”
During the manufacturing consolidation phase, the goal is to leverage the strengths of each company to enable rapid expansion of aircraft production and meet Archer’s commercialization plans. As the two companies move quickly towards having the facility operational by mid-2024, we currently have experienced Stellantis teams working full-time alongside the Archer team, supporting the staging operations with a focus on manufacturing automation and component sourcing. The Stellantis team is now integrated with almost all of Archer’s operational areas including Manufacturing, Engineering, Procurement, Quality, Service and Human Resources.
Initial manufacturing production capacity will be up to 650 aircraft per year, with the possibility of expansion to a scale of up to 2,300 units per year. Production at this volume will make the facility the leading aircraft manufacturer by number of units.