Stellantis invests in additional Archer shares
This investment follows the achievement of flight test milestones and builds on Stellantis’ previously announced purchase of 8.3 million Archer shares on the open market in March this year, according to Stellantis. This block of shares was worth 39 million dollars at the time. As Stellantis has already invested 110 million euros in the course of 2023, the total sum rises to 204 million dollars. This is a combination of share purchases on the open market and investments as part of the strategic financing agreement between the two companies.
Stellantis emphasises that Archer is on schedule with the construction of the factory in Georgia. The first phase of construction includes the construction of an approximately 3.25-acre manufacturing facility on an approximately 40.5-acre site. According to the companies, the plant, which is designed to build up to 650 aircraft per year, would be “one of the largest in the aircraft industry in terms of volume”.
Archer is also pushing ahead with its eVTOL ecosystem independently of Stellantis. Last week, the company signed an agreement with Signature to establish launch pads for eVTOLs at major US airports. In early June, Archer received approval for commercial flights.
7 Comments