Archer’s Midnight eVTOL will make its European debut at Paris Air Show.
Stellantis and Archer Host European Debut of Midnight eVTOL Aircraft at 2023 Paris Air Show
AMSTERDAM and SANTA CLARA, CALIFORNIA, June 9, 2023 – Archer Aviation Inc. (NYSE: ACHR) and Stellantis N.V. will attend the 54th edition of the 2023 Paris Air Show, starting June 19, 2023, to share progress toward scaling manufacturing of Archer’s Midnight eVTOL aircraft as Archer prepares for planned commercialization in 2025.
Archer’s Midnight aircraft will be the featured eVTOL aircraft at the Paris Air Show, positioned in the center of the Air Mobility event, which is located in Hall 5 at Le Bourget Airport. Dedicated to the latest innovations and emerging technologies in eVTOL, the Paris Air Show’s Air Mobility event will bring together key players in this sector with three days of discussions focused on the maturation of advanced air mobility and its impact on the future of aerospace.
This unique partnership in the eVTOL aircraft industry between Archer and Stellantis will leverage each company’s respective strengths and competencies to bring the Midnight aircraft to market at scale. To complement Archer’s world-class team of eVTOL aircraft, electric powertrain, and certification experts, Stellantis is contributing advanced manufacturing technology and expertise, experienced personnel, and capital to the partnership. This combination is intended to enable the rapid scaling of aircraft production to meet Archer’s commercialization plans while allowing Archer to strengthen its path to commercialization by helping it avoid hundreds of millions of dollars of spending during the manufacturing ramp-up phase.
Stellantis and Archer joined forces to build the electric aircraft. The goal for Stellantis is to mass-produce Archer’s eVTOL aircraft as its exclusive contract manufacturer. Stellantis is providing $150 million of equity capital for a potential draw by Archer at its discretion in 2023 and 2024.