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Global Automaker Stellantis Will Mass Produce Electric Aircraft for Archer Aviation as Part of an Expanded Partnership That Includes Up to US$ 150 Million in Additional Capital for the Startup Going Public in the Coming Months.
The electric aircraft agreement, announced on Wednesday during CES 2023 in Las Vegas, will make Stellantis the exclusive contracted manufacturer of the Archer Midnight eVTOL.
Learn About the Electric Aircraft Launch Partnership
Stellantis began its partnership with Archer Aviation in 2020, giving it access to its global supply chain and other expertise. In February 2021, Stellantis expanded its relationship with the aerospace startup through a partnership agreement.
In the same month, Archer announced plans to go public through a merger with special purpose acquisition company Atlas Crest Investment Corp. The announcement goes far beyond the collaboration.
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Stellantis is not only providing Archer with funding and manufacturing expertise; the automaker says it will also help build Archer’s recently announced factory in Covington, Georgia. The two companies plan to start production of the Midnight aircraft at the factory in 2024.
Features of the Electric Aircraft
The Midnight electric aircraft has a range of 100 miles and is designed for urban environments where the average trip is around 20 miles. The plane has a projected payload of over 1,000 pounds and can carry four passengers in addition to the pilot.
In December, the FAA published proposed airworthiness standards for the Midnight aircraft in the Federal Register, a step toward commercializing urban air mobility.
Archer said it is working to certify the Midnight with the FAA by the end of 2024, before using it as part of its urban air mobility network, which it plans to launch in 2025. Stellantis also stated that it plans to increase its strategic stake in Archer through future stock purchases in the public market.
What Are Electric Aircraft?
An electric airplane is an aircraft that flies powered by electric motors, rather than internal combustion engines, using electricity supplied by solar power, fuel cells, wireless power transfer, or batteries to drive the propellers and achieve flight.
Currently, most electric airplanes are in the experimental phase, with the first electric aircraft dated back to 1957, and in 2015, the Solar Impulse circumnavigated the globe in 5 months. According to the CEO of Tesla Motors/SpaceX, when batteries can produce 400 watt-hours per kilogram, with a power-to-weight ratio of between 0.7 and 0.8, then commercial electric transcontinental airplanes will be viable.
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