It is a rather unprecedented partnership that Stellantis and Archer Aviation have just signed. The Franco-Italian-American car manufacturer will diversify its production and move into the field of aeronautics. He has just announced the signing of an agreement with the American company on Wednesday 4 January.
Maximum autonomy of 160 km
The contract calls for Stellantis to help produce the Midnight, a 100% electric aircraft. With a total mass of 450 kg, the aircraft will be able to transport four people in addition to the pilot, between point A and B. A real flying taxi capable of traveling up to 160 km in theory, but optimized for short trips of 30 km, with a recharge of only 10 min between each take-off. “Archer brings its world-class team of eVTOL, electric motor and certification experts, while Stellantis provides its industry-leading manufacturing expertise and technology, team expertise and capital”specify the two companies.
As for Archer, the signing of this new agreement should make it possible to accelerate the manufacturing schedule for its device. Production is expected in early 2024 at the future plant in Covington, Georgia (USA). Help from Stellantis should be crucial, once production begins, to accelerate the ramp-up of manufacturing while saving “several hundred million dollars”. Through this operation, Stellantis should mass-produce Archer’s eVTOL exclusively.
150 million in equity
In addition, the group resulting from the merger of PSA and Fiat-Chrysler, will soon inject up to 150 million dollars, under “subject to the achievement of certain expected objectives” at Archer. Stellantis should also buy back a large quantity of shares in the American company to eventually become a major investor in the stock.
In the United States, United Airlines Holdings has already placed an order for 100 planes with Archer and paid a deposit of 10 million dollars, recalls the wall street journal. In order to launch the commercial service, the companies still have to wait for the final validation from the regulators. The decision of the Federal Aviation Administration could fall by the end of 2024, according to the CEO of Archer. Commercial flights can then begin very quickly.
“We’ve been working with Archer for two years, and I’m impressed with their inventiveness and determination to succeed. Our strengthened partnership with Archer and our plans to grow our equity stake in the company are proof that Stellantis continues to push the boundaries to provide eco-responsible mobility solutions for everyone, on the road and in the air.”welcomed Carlos Tavares, CEO of Stellantis.