Stellantis Increases Strategic Shareholding In Archer

Stellantis has ramped up its investment in Archer Aviaton Inc., a pioneering company in the development of electric vertical take-off and landing (eVTOL) aircraft. The move, comprising a series of open-market purchases of 8.3 million shares of Archer’s stock, underscores Stellantis’ growing confidence in Archer’s ambitious plans to revolutionize urban transportation with electric air taxis, set to debut in 2025.

This increased investment comes on the heels of Stellantis CEO Carlos Tavares’ recent visit to Archer’s headquarters and manufacturing facilities in Santa Clara, California. Tavares expressed unwavering support for Archer’s vision and the progress witnessed firsthand through their partnership.

In January 2023, Stellantis announced its commitment to mass produce Archer’s flagship Midnight aircraft, serving as its exclusive contract manufacturer. This collaboration aims to propel Archer’s path to commercialization while circumventing significant capital expenditures. Archer’s high-volume manufacturing facility in Georgia, slated for completion later this year, underscores the tangible progress in this endeavor. This facility is poised to become one of the largest in the aircraft industry, with an initial phase designed to churn out up to 650 aircraft annually.

Archer’s Midnight aircraft, meticulously designed for safety, sustainability, and low noise emissions, is poised to transform urban mobility. Capable of accommodating four passengers and a pilot, Midnight is tailored for short-distance journeys spanning 20-50 miles, with rapid charging times of approximately 10 minutes.

“Archer has established itself as a market leader in the electrification of aviation and we believe that together we can usher in the next transportation revolution,” said Stellantis CEO Carlos Tavares. “This recent move by Stellantis signals our confidence in Archer’s team and the progress we see firsthand through our deep partnership.”

“We are on the cusp of changing the way the world moves in the sky,” said Adam Goldstein, founder and CEO of Archer. “Archer and Stellantis are working side by side to realize a once-in-a-generation opportunity to redefine urban transportation and deliver tremendous value to the world’s cities and our shareholders.”