The Future of Flying Cars convinces StellantisThis is demonstrated by the fact that the Italian-French group has announced an investment of 55 million dollars as part of the strategic financing deal with Archer: the move follows Stellantis’ previous purchase of $39 million of Archer shares, which the company completed earlier this year, and another $110 million investment between the same two companies completed in 2023.
Stellantis Invests in Archer
The latest investment was seriously considered by Stellantis itself following the achievement of the flight test results last month. Great confidence therefore from the group towards Archer, which should complete the construction of its high-volume production plant in Georgia, in the United States, by the end of the year: designed to support the production of 650 aircraft per yearin the first phase of the works the construction of a plant of approximately 32,500 square meters on an area of approximately 40 hectares is foreseen.
The Future of Flying Cars
Let’s remember that Archer’s goal is to transform urban travel, replacing 60-90 minute car journeys with electric air taxi flights lasting an estimated 10-20 minutes. This is where it comes into play at this point MidnightArcher’s aircraft designed to make rapid back-to-back flights with minimal refueling time between flights and capable of carrying four passengers and a pilot.
Tavares’ words
“Few things can compete with the thrill of seeing a dream take flight – explained Carlos Tavares, CEO of Stellantis – I appreciate the innovation, expertise and hard work of the Stellantis and Archer design and manufacturing teams. With this additional investment in Archer, we continue to focus on a future where mobility freedom extends beyond the most usual methods“.
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