Stellantis to help build Archer’s air taxi

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Stellantis to help build Archer’s air taxi

Robert Besser
08 Jan 2023, 05 GMT+10

  • Stellantis and Archer Aviation have announced that the carmaker will help build the US start-up’s electric air taxi
  • It can take off and land vertically to ferry travelers to airports or on short trips between cities to avoid traffic
  • In a joint statement, the two companies said the vertical take-off and landing Midnight aircraft will be built in Covington, Georgia, starting in 2024, with an annual production target of 2,300 aircraft

NEW YORK CITY, New York: Stellantis and Archer Aviation have announced that the carmaker will help build the US start-up’s electric air taxi, which can take off and land vertically to ferry travelers to airports or on short trips between cities to avoid traffic.

In a joint statement, the two companies said the vertical take-off and landing Midnight aircraft, which can carry four passengers and a pilot with a range of 100 miles, will be built in Covington, Georgia, starting in 2024, with an annual production target of 2,300 aircraft.

“The goal is for Stellantis to mass produce Archer’s aircraft as its exclusive contract manufacturer,” the statement said.

A merger between Fiat Chrysler and French automaker Peugeot, Stellantis will provide up to $150 million in equity capital for Archer in 2023 and 2024, subject to the start-up successfully achieving business milestones.

CEO Carlos Tavares said that Stellantis will also increase its existing stake in Archer through stock purchases in the open market, though it seeks to maintain a minority holding.

At a press conference at Archer’s headquarters in San Francisco, Tavares said, “We are here to support, not to control.”

Stellantis aims to become a long-term, cornerstone investor in Archer, the companies said.

Other ventures involving the car industry include a collaboration to develop avionics systems between Hyundai’s air taxi unit and aerospace supplier Honeywell.

In November, European aircraft manufacturer Airbus and French carmaker Renault began a partnership to develop a new generation of electric batteries and hybrid technology for cars and planes.

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Category: News View 42