From the Roads to the Skies – $55 Million More for High-Flying Dreams

In a world where our urban commutes can sometimes feel like an unending nightmare of brake lights and honking horns, the news of Stellantis investing an additional $55 million in Archer Aviation brings a breath of fresh air—literally. If you’ve ever daydreamed of trading your bumper-to-bumper misery for a quick zip through the skies, this is the editorial for you.

A High-Flying Partnership

Stellantis and Archer, the dynamic duo of the eVTOL (electric vertical takeoff and landing) aircraft world, are at it again. If you’re unfamiliar with eVTOL, think of it as the love child of a helicopter and an electric car, minus the exhaust fumes and with a cool sci-fi vibe. Stellantis, the automotive giant, and Archer, the sky-bound innovator, have been strategically shaking hands and writing checks since 2020. Their shared vision? To transform urban travel from a crawl to a soar.

Money Talks

This isn’t Stellantis’ first rodeo with Archer. Earlier this year, they threw a casual $39 million Archer’s way through open market stock purchases. And let’s not forget the hefty $110 million they invested in 2023. But like a generous grandparent at Christmas, Stellantis just couldn’t resist giving a little more. Cue the latest $55 million injection following Archer’s transition flight test milestone last month. It’s like getting a bonus on top of a bonus—because why not?This mammoth 350,000 square foot site facility in Covington, Georgia

Georgia on Their Mind

Where’s all this cash going? Archer’s nearly complete manufacturing facility in Covington, Georgia, which is about to become the Disneyland of eVTOL production. This mammoth 350,000 square foot site sprawls over 100 acres and is designed to churn out up to 650 aircraft annually. That’s right, 650! Imagine the line-up of shiny, new eVTOLs ready to transform your dreary commute into a quick hop, skip, and a jump across town.

Big Plans, Big Dreams

Archer’s Midnight, a sleek, piloted, four-passenger aircraft, is the star of this airborne show. It promises to turn a 60–90 minute car commute into a breezy 10–20 minute flight. And it’s not just fast—it’s safe, sustainable, and quiet enough not to wake the neighbors. Plus, it’s cost-competitive with ground transportation. Goodbye, road rage. Hello, sky zen.

CEO Sentiments

Carlos Tavares, Stellantis CEO, couldn’t be more thrilled. He likens this venture to seeing a dream take flight, praising the innovation and hard work of both companies’ teams. Adam Goldstein, Archer’s CEO, echoes the sentiment, highlighting Stellantis’ unwavering support and strategic vision. Together, they’re not just redefining urban transportation—they’re opening new worlds of opportunity.

The Numbers Game

For those who love the nitty-gritty details, here’s a bulleted list to satiate your data cravings:

• Latest Investment: $55 million from Stellantis

• Earlier Investments:

  • $39 million in open market purchases in March 2024

  • $110 million during 2023

• Manufacturing Facility:

  • Location: Covington, Georgia

  • Size: ~350,000 square feet

  • Site Area: ~100 acres

  • Production Capacity: Up to 650 aircraft annually

• eVTOL Aircraft: Archer’s Midnight

  • Passenger Capacity: Four

  • Commute Transformation: 60–90 minute car rides to 10–20 minute flights

  • Features: Safe, sustainable, low noise, cost-competitive

• Strategic Partnership: Stellantis and Archer since 2020

• Stock Market Presence:

  • Stellantis: NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP

  • Archer: NYSE: ACHR

So, the next time you’re stuck in traffic, daydream a little about the not-so-distant future where you could be gliding above it all, courtesy of Stellantis and Archer. Here’s to the skies!

The post From the Roads to the Skies – $55 Million More for High-Flying Dreams first appeared on Fuelled.