On July 3, Stellantis Group announced an additional $55 million investment in the American eVTOL company Archer.
It is reported that this increase in investment supplements Stellantis' $39 million worth of Archer stock purchased earlier in 2024 on the open market, as well as a $110 million investment in Archer in 2023.
Founded in October 2018, Archer focuses on the development of electric vertical takeoff and landing (eVTOL) aircraft. In May 2023, Archer completed the final assembly of its first "Midnight" eVTOL aircraft, followed by the maiden flight of Midnight. Midnight is a manned eVTOL aircraft that can carry four passengers and one pilot, with a range of up to 100 miles (approximately 160.9 kilometers) and an expected payload of around 1,000 pounds (500 kilograms).
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In June, Archer announced that it had received Part 135 Air Carrier Certification from the Federal Aviation Administration (FAA). Archer is the second eVTOL company to receive Part 135 certification, following Joby Aviation, enabling Archer to launch mature commercial services at any time.
Earlier this year, in April, Archer completed a series of battery pack drop tests, including dropping batteries from a height of 50 feet (approximately 15 meters) to simulate crash scenarios.
According to Archer's previous plans, it will commence commercial eVTOL operations in 2025.
Throughout Archer's push for eVTOL commercialization, Stellantis has been a significant supporter. As early as 2020, Stellantis and Archer established a strategic partnership, and Stellantis became an investor in Archer starting in 2021. During this period, Archer has leveraged Stellantis Group's extensive expertise in production, supply chain, and design to help develop and commercialize its eVTOL aircraft.
According to the latest plans, Archer is expected to complete the construction of its mass-production eVTOL aircraft factory in Georgia, USA, later this year. Once the factory is completed, it will be able to produce up to 650 eVTOL aircraft annually, making it one of the largest manufacturing facilities in the aviation industry.
