Stellantis announces that it has invested a further $55 million in Archer Aviation Inc. a company specializing 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 financing is in addition to the $39 million invested earlier this year via the purchase of shares on the open market, and the $110 million invested in 2023.

Stellantis adds that Archer is on track to complete construction of its major manufacturing plant in Covington, Georgia, by the end of the year.

The 32,500 sq.m. plant, on a 40-hectare site, is targeting annual production of 650 aircraft.

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