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Stellantis: invests $55m in Archer Aviation
(CercleFinance.com) - Stellantis announces that it has invested a further $55 million in Archer Aviation Inc, a company specialising in electric vertical take-off and landing (eVTOL) aircraft.
This investment follows a recent successful test flight and is part of their strategic financing agreement.
This new funding is in addition to the $39m invested earlier this year via the purchase of shares on the open market and the $110m invested in 2023.
Stellantis says Archer is on track to complete construction of its major manufacturing facility in Covington, Georgia, by the end of the year.
The plant, which will cover 32,500 square metres on a 40-hectare site, aims to produce 650 aircraft a year.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
This investment follows a recent successful test flight and is part of their strategic financing agreement.
This new funding is in addition to the $39m invested earlier this year via the purchase of shares on the open market and the $110m invested in 2023.
Stellantis says Archer is on track to complete construction of its major manufacturing facility in Covington, Georgia, by the end of the year.
The plant, which will cover 32,500 square metres on a 40-hectare site, aims to produce 650 aircraft a year.
Copyright (c) 2024 CercleFinance.com. All rights reserved.