Stellantis announces that it has acquired 8.3 million Archer shares on the open market, thus reaffirming its confidence in Archer's objective of commercializing electric vertical take-off and landing (eVTOL) aircraft from 2025.

In January 2023, Stellantis announced its intention to mass-produce Archer's eVTOL Midnight as exclusive contract manufacturer.

This further investment by Stellantis in Archer follows a recent visit by Carlos Tavares, CEO of Stellantis, to Archer's headquarters and production facilities in Santa Clara, California.

The first phase of the project involves the construction of an Archer facility of over 32,000 square meters on a campus of around 40hectares in Georgia, USA. This phase is scheduled for completion before the end of the year.

The site is designed to produce up to 650 aircraft per year, making it one of the world's largest aircraft production facilities in terms of volume.

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