Car maker Stellantis is to produce Archer Aviation's four-passenger eVTOL aircraft under a new arrangement announced this week by the existing partners. Stellantis has also agreed to provide Archer with a further $150 million in equity capital in 2023 and 2024 in a move that significantly deepens a relationship with the California-based start-up that began in 2020.
The plans announced on January 4 call for Stellantis to produce the Midnight aircraft at the new manufacturing facility in Covington, Georgia, which is scheduled to open in 2025. The Europe-based automotive group was formed in 2021 from the merger between carmakers Fiat Chrysler and Peugeot.
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