Archer Aviation, an NYSE-listed eVTOL aircraft manufacturer, reported that its new ~400,000 sq ft manufacturing facility in Covington, Georgia, will be finished in 2024 as scheduled. The company received financial support from Stellantis earlier this month for the facility's construction.

The Georgian facility is expected to have an annual production capacity of ~650 Midnight aircraft, reportedly making it one of the largest aviation manufacturing sites.

Analyst QuickTake: Archer recently received authorization to construct its manufacturing facilities in California . Since June 2024, the company has ramped up its efforts in expanding its aviation operations and services throughout the US. This includes collaborating with Signature Aviation to gain ​​access to potential takeoff sites in major urban areas, Kilroy Realty Corporation to establish an eVTOL hub in San Francisco, and Southwest Airlines to develop Californian eVTOL routes.