Electric Airplane in Partnership with Stellantis and Archer

Stellantis and Archer Aviation announced that they have joined forces for the production of Archer's "flagship" electric vertical take-off and landing (eVTOL) aircraft, the Midnight. The 2 companies plan to start producing the Midnight aircraft in 2024. Midnight is designed to be safe, sustainable and quiet. And with a carrying capacity of over 454 kilograms, it can carry 4 passengers and a pilot. The Midnight has a range of 100 miles, optimized for short-haul journeys of about 20 miles with about 10 minutes of charging.

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Background of Stellantis and Archer Collaboration

Archer will provide top-tier eVTOL team, electric powertrain and certification expertise, while Stellantis will contribute advanced manufacturing technology and expertise, experienced personnel and capital to the partnership. This combination will meet Archer's commercialization plans, helping to rapidly scale aircraft production and strengthen Archer's path to commercialization without spending hundreds of millions of dollars as it moves into production.

Stellantis intends to mass produce Archer's eVTOL aircraft as an exclusive contract manufacturer. Stellantis will also provide up to $150 million of equity capital in the event of Archer's withdrawal in 2023 and 2024, subject to the achievement of Archer's anticipated business targets in 2023. Stellantis also plans to increase its strategic shareholding by purchasing Archer shares in the free market in the future. All these actions, together with the other elements of the expanded partnership, will ensure that Stellantis will be a significant long-term investor in Archer.

"We are shaping the mobility of tomorrow"

Stellantis Chief Executive Officer (CEO) Carlos Tavares stated that they have been working closely with Archer for the last 2 years. He also noted that he was very impressed by their creativity and determination to achieve their goals. Tavares,

Archer Founder and CEO Adam Goldstein,

Company has been Archer's strategic partner through different joint ventures since 2020 and as an investor since 2021. During this time, Archer has leveraged Stellantis' well-established manufacturing, supply chain and design expertise in connection with Archer's efforts to design, develop and commercialize the eVTOL aircraft.