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Funding
Archer Aviation receives additional USD 55 million funding from Stellantis
Passenger eVTOL Aircraft
Jul 2, 2024
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Passenger eVTOL Aircraft

Passenger eVTOL Aircraft

Jul 2, 2024

Archer Aviation receives additional USD 55 million funding from Stellantis

Funding

  • Archer Aviation, an NYSE-listed eVTOL aircraft manufacturer, has received USD 55 million in funding under its strategic funding agreement from Stellantis. The funding was received after the completion of Archer's first transition flight in May 2024 , as per the funding agreement.

  • Archer will use the funding to establish its Georgia manufacturing site, expected to be completed by the end of 2024. The factory will have an annual capacity of ~650 aircraft.

  • Stellantis has been a strategic partner to Archer since 2020, working collaboratively with Archer and becoming an investor in Archer in 2021. In 2023, Stellantis invested a total of USD 110 million in Archer.

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