Stellantis takes off – eVTOL Archer Midnight on approach
An eVTOL is an electrically powered aircraft that can take off and land vertically (eVTOL is the acronym for electric Vertical Take-Off and Landing aircraft). The cooperation is intended to enable the startup Archer to advance the commercialization of the electric aircraft. Production of the Midnight is scheduled to start as early as 2025. In the long term, Stellantis plans to increase its strategic stake in Archer in the future.
Stellantis wants to produce the aircraft
The automotive group is teaming up with Archer to jointly implement the construction of the Midnight eVTOL electric aircraft. This was announced by the company behind Peugeot, Abarth, Jeep, Alfa Romeo, Chrysler, Citroën, Fiat, Maserati, and other brands. Stellantis will contribute advanced manufacturing technologies, capital, personnel, and experience. Archer's path to commercialization can be accelerated with Stellantis' support by saving several million dollars in expenses. This will allow Archer to bring the aircraft to market faster.
The goal is for Stellantis to produce Archer's eVTOL aircraft exclusively as a contract manufacturer in series production. To this end, the automotive group will provide up to $150 million in equity to Archer in 2023 and 2024. However, Archer must achieve specific commercial milestones in 2023 for this to happen. Additionally, Stellantis will receive the right to exclusively produce the Midnight aircraft as a contract manufacturer in series production in return for its financial contribution.
Only for very short trips
First, Stellantis wants to help Archer build the production plant in Covington, Georgia. This is where the electric aircraft Midnight is scheduled to be manufactured starting in 2024. It features 12 propellers, has a payload of 450 kilograms, and can carry a total of five people - one pilot and four passengers. Furthermore, it reaches a top speed of 240 km/h and a flight altitude of around 600 meters. Although the electric aircraft has a range of 160 km, it is only suitable for short-distance flights up to 30 km. Additionally, recharging between flights takes just 10 minutes. As a result, it is intended to be used as an air taxi in urban areas and redefine public transportation.
Future Cooperation Visions of the Partners
Through their cooperation, the partners hope for rapid production and commercialization of the Midnight. Adam Goldstein, founder and CEO of Archer, comments that this is the only way to be the first to market and secure a strong position in the eVTOL sector. Without Stellantis, Archer would have had to raise a lot of capital from other sources.
This unique partnership in the urban air mobility industry is intended to leverage the advantages of both companies to commercialize the e-plane. Archer provides the team of eVTOL, electric drive, and certification experts, while Stellantis provides capital, personnel, manufacturing technologies, and know-how.
What does this mean?
An unusual partnership. Is the market for eVTOLs really that big in the future? In Europe, this is hard to imagine. It may be different in Latin America, where helicopter shuttle services are already booked for short distances in some large cities and hover over the heads of the city population.
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