Stellantis (STLA) & Archer Partnership Moves to Execution Phase
Stellantis N.V. STLA and Archer announced that their strategic manufacturing partnership has reached the next level with the ongoing construction of the world’s first high-volume eVTOL (electric vertical take-off and landing) aircraft manufacturing facility located on the nearly 100-acre Covington campus in Georgia. The automaker increased its exposure in Archer via a series of stock purchases in the open market.
Carlose Tavares, CEO of Stellantis, said that both companies are putting their best foot forward to bring scalable manufacturing of Archer’s aircraft online in mid-2024. Stellantis believes that this unconventional partnership is setting the standard for cross-industry collaboration, which will continue to support the company’s strategy of leading the industry by providing freedom of mobility in all ways.
Archer intends to achieve commercialization at scale and attaining high-volume manufacturing is critical to its plan.
The goal of both companies is to leverage their respective strengths in the manufacturing ramp-up phase to acquire the desired aircraft production scale to meet Archer’s commercialization plan.
As both companies stride toward bringing this facility online by mid-2024, Stellantis personnel have joined forces with Archer to support operational readiness with the current focus on manufacturing automation and component sourcing. Stellantis personnel are present in almost all areas of Archer’s operation, including engineering, manufacturing, quality, facility, human resources and supply chain.
Initially, the manufacturing operation will produce up to 650 aircraft per year. The capacity can be expanded to achieve the production of 2,300 aircraft per year, which could make this site the world’s leading aircraft manufacturing facility by volume.
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