Global automaker Stellantis, Archer Aviation, Inc. enters the aviation industry by making a deal to build an electric flying taxi with
Manufacturer of Stellantis, Chrysler, Dodge, Jeep, Ram, Opel, Peugeot and other well-known car brands. But it will now provide Archer with up to $150 million in equity in 2023 and 2024 and operate as a private contract manufacturer.
The deal was announced during CES in Las Vegas on Wednesday, with the goal of starting production of the vertical take-off and landing aircraft Midnight at its Georgia manufacturing plant in 2024. The firm announced in a press release that the vehicle will be “safe, sustainable, quiet and will carry four passengers plus a pilot.”
Midnight will be designed to transport passengers over short distances, up to about 32 kilometers, but will have a range of 160 kilometers for back-to-back trips. The all-electric aircraft will require about 10 minutes of charging time between flights. Archer says Midnight will be designed to take off and land vertically like a helicopter, and once it reaches flight altitude it will fly forward like a normal airplane.
The U.S. Federal Aviation Administration is in the process of changing its regulations, including how to integrate short-flying taxis into airspace, and is creating pilot specifications. Planned aircraft are also being studied.
Archer first signed an agreement with Stellantis in 2021, enabling Stellantis to leverage its supply chain and manufacturing expertise. But the announcement of Midnight takes the deal a step further.
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