Stellantis invests in additional Archer shares

The car company Stellantis is investing a further 55 million US dollars in the Californian electric flying taxi developer Archer Aviation. So far, Stellantis has already invested more than 200 million dollars in Archer.

Image: Stellantis

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.


about „Stellantis invests in additional Archer shares“
Herman monster
09.07.2024 um 04:47
Stellantis this is what happens when you stop making cars. And go and do this nonsense.
09.07.2024 um 05:19
09.07.2024 um 11:36
Flying Taxis. Like autonomous cars. They aren't going to happen. Cutting the production price of its EVs would surely be beneficial in every sense, but looks like someone has taken leave of their senses.
Robert Keels
10.07.2024 um 02:51
Small minded person . Ever seen the jetsons.
Thomas Phillips
09.07.2024 um 12:55
It’s good to see non polluting, fast transportation that looks economically possible to solve the congestion issues across the globe . Hope it gains traction soon
Concerned Carl
09.07.2024 um 16:24
This 200 million could have saved critical jobs in the US. Sad to see that their leadership is no vision of whats important.
D. J. Holt
11.07.2024 um 21:35
Many more air incidents in the near future. Heads up the sky is falling.

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