Stellantis-backed electric flying cars to launch in 2025
Auto giant increases share in Archer Aviation and looks set to trump Toyota and Hyundai in race to commercialise flying carsStellantis has increased its share in Californian-based flying car manufacturer Archer Aviation in a bid to get a jump on rivals in the fast-growing electric vertical take-off and landing vehicle (eVOTL) market.
Toyota, Hyundai, Subaru, Porsche, Mercedes-Benz, Geely and other car-makers have all invested in eVTOL ventures in recent years as a means to combat traffic congestion in the world’s growing mega-cities.
Now Stellantis, the parent company of brands such as Jeep, Dodge, RAM, Alfa Romeo, Peugeot and Citroen (and already a major partner with Archer), has purchased another 8.3 million shares in the aviation firm, which plans to bring its first eVTOL aircraft to market as early as next year.
The strategic partnership was forged in 2020 and strengthened last year when Stellantis announced plans to become the exclusive contract manufacturer of the Archer Midnight eVTOL, “thereby allowing Archer to strengthen its path to commercialisation by helping it avoid hundreds of millions of dollars of spending costs”.
A “high-volume” production facility in the US state of Georgia is expected to be completed later this year, churning out 650 aircraft annually.
“Archer has established itself as a market leader in the electrification of aviation and we believe that together we can usher in the next transportation revolution,” said Stellantis CEO Carlos Tavares.
“This recent move by Stellantis signals our confidence in Archer’s team and the progress we see firsthand through our deep partnership.”
The Archer Midnight can seat five and is optimised for back-to-back short-distance trips of up to 80km, with roughly 10 minutes of charging time in between.
It’s powered by six independent battery packs, each supporting a pair of electric motors that in turn power a propeller. It can travel at up to 240km/h.
“We are on the cusp of changing the way the world moves in the sky,” said Archer founder and CEO Adam Goldstein.
“Archer and Stellantis are working side by side to realise a once-in-a-generation opportunity to redefine urban transportation and deliver tremendous value to the world’s cities and our shareholders.”
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