Archer receives further $55 million investment from Stellantis

Archer Aviation has secured an additional $55 million investment from Stellantis under the companies’ strategic funding agreement following the achievement of Archer's transition flight test milestone last month. This latest investment follows Stellantis’ series of open market purchases of 8.3 million shares of Archer’s stock in March of this year. During 2023, Stellantis invested $110 million in Archer through a combination of open market stock purchases and investments under the companies’ strategic funding agreement. According to a statement, Archer remains “on track to complete construction of its high-volume manufacturing facility in Georgia later this year”, with the intention to establish a factory that can “support its planned commercial ramp up by leveraging the expertise of Stellantis as its contract manufacturer”. Stellantis has been a strategic partner to Archer since 2020 through various collaboration initiatives, and as an investor since 2021. During this time, Archer has worked with Stellantis to design, develop, and commercialize its eVTOL aircraft. “Few things rival the excitement of seeing a dream take flight. I applaud the innovation, expertise and hard work of the engineering and manufacturing teams from Stellantis and Archer,” said Carlos Tavares, Stellantis CEO. “With this additional investment in Archer, we remain on course for a future where freedom of mobility extends beyond today’s roads.” “The commitment by Stellantis to Archer has been unrivaled, from its foresight to provide the manufacturing expertise and capital needed to accelerate Archer’s business objectives, to the strategic vision and steadfast support from Stellantis CEO Carlos Tavares,” said Archer CEO, Adam Goldstein. “Together, we’re working to redefine urban transportation, opening new worlds of opportunity for citizens across the globe by providing more efficient access to people, places, and events across the regions they live in.”