Stellantis and Archer to build eVtol "Midnight" aircraft
Its payload of over 1,000 pounds, it can carry four passengers plus a pilot
Stellantis and Archer Aviation announced yesterday that they have agreed to significantly expand their partnership by joining forces to manufacture Archer’s flagship electric Vertical Take-Off and Landing (eVtol) aircraft, Midnight.
Stellantis will work with Archer to stand up Archer’s recently announced manufacturing facility in Covington, Georgia at which the companies plan to begin manufacturing the Midnight aircraft in 2024. It is designed to be safe, sustainable, quiet and, with its expected payload of over 1,000 pounds, can carry four passengers plus a pilot. With a range of 100 miles, Midnight is optimized for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between.
This unique partnership in the urban air mobility industry will leverage each company’s respective strengths and competencies to bring the Midnight aircraft to market. Archer brings its world-class team of eVTOL, electric powertrain and certification experts while Stellantis will contribute advanced manufacturing technology and expertise, experienced personnel and capital to the partnership. This combination is intended to enable the rapid scaling of aircraft production to meet Archer’s commercialization plans, while allowing Archer to strengthen its path to commercialization by helping it avoid hundreds of millions of dollars of spending during the manufacturing ramp up phase. The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer.
As a further sign of its commitment, the company will provide up to $150 million in equity capital for potential draw by Archer at its discretion in 2023 and 2024, subject to achievement of certain business milestones which Archer expects to occur in 2023. The industry also intends to increase its strategic shareholding through future purchases of Archer stock in the open market. These actions, along with the other elements of this expanded partnership, will enable Stellantis to become a long-term, cornerstone investor in Archer.
The firm has been a strategic partner to Archer since 2020 through various collaboration initiatives, and as an investor since 2021. During this time, Archer has leveraged Stellantis’ deep manufacturing, supply chain, and design expertise in connection with Archer’s efforts to design, develop, and commercialize its eVTOL aircraft.
AVIONEWS - World Aeronautical Press Agency