Stellantis, Archer Aviation team up for Midnight eVTOL aircraft
Dutch automotive manufacturer Stellantis and Archer Aviation have announced a collaboration to produce the latter’s Midnight eVTOL aircraft, an electric vertical take-off and landing (eVTOL) aircraft for use in urban air mobility networks.
Being the exclusive contract manufacturer, the Amsterdam-headquartered Stellantis will mass produce Archer Aviation’s eVTOL aircraft and provide up to $150 million in equity capital for a potential draw by the latter at its discretion in 2023 and 2024.
The Midnight eVTOL aircraft will have a range of 100 miles and a payload of more than 1,000 pounds as well as carry a pilot and four passengers.
The aircraft with a charging time of around 10 minutes in-between, is advanced for back-to-back short-distance journey of around 20 miles.
Carlos Tavares — Stellantis CEO said: “Deepening our partnership with Archer as a strategic investor with plans for growing our shareholding demonstrates how Stellantis is pushing the boundaries to provide sustainable freedom of mobility, from the road to the sky.
“Supporting Archer with our manufacturing expertise is another example of how Stellantis will lead the way the world moves.”
Stellantis, Archer Aviation team up for Midnight eVTOL aircraft
With a launch target in 2025, Stellantis and Archer Aviation are planning to build the Midnight eVTOL aircraft in 2024 at the latter’s proposed manufacturing plant in Covington, Georgia.
Adam Goldstein — Archer Aviation founder and CEO said: “Stellantis’ continued recognition of Archer’s progress toward commercialization, and today’s commitment of significant resources to build the Midnight aircraft with us, places Archer in a strong position to be first to market.
“Our two companies are taking these important steps together to realize a once-in-a-generation opportunity to redefine urban transportation.”
Stellantis was formed in 2021 on the basis of a 50–50 cross-border merger between the Italian-American conglomerate Fiat Chrysler Automobiles and the French PSA Group.
The company goes to market under the brands such as Abarth, Chrysler, Alfa Romeo, Dodge, Citroën, Fiat, DS Automobiles, Jeep, Maserati, Lancia, Opel, Peugeot, Vauxhall, Ram, Leasys, and Free2move.