ÂÌñÏ×ÆÞ

 (Santa Clara, Calif., U.S.) has received an additional $55 million investment from partner  (Amsterdam, Netherlands) under the companies’ strategic funding agreement following the achievement of its transition flight test milestone last month.

This latest investment builds on Stellantis’ series of open market purchases of 8.3 million shares of Archer’s stock in March 2024 that was previously announced. During 2023, Stellantis invested $110 million in Archer through a combination of open market stock purchases and investments under the companies’ strategic funding agreement.

Archer reports that it remains on track to complete construction of its high- volume manufacturing facility in Georgia later this year. This first phase of the buildout is an approximately 350,000-square-foot facility on an ~100 acre site designed to support production of up to 650 electric vertical takeoff and landing (eVTOL) aircraft annually. Archer’s goal with this facility remains to establish a factory that can support its planned commercial ramp-up by leveraging the expertise of Stellantis as its contract manufacturer.

Stellantis has been a strategic partner to Archer since 2020 through various collaboration initiatives, and as an investor since 2021. During this time, Archer has leveraged Stellantis’ deep manufacturing, supply chain, and design expertise in connection with Archer’s efforts to design, develop and commercialize its eVTOL aircraft.