The aircraft, which can carry five people with a range of 161 km, will be produced in Covington, Georgia, starting in 2024, and is intended, in particular, for short-distance back-to-back trips around 32 km, with a recharge time of about 10 minutes between flights.

Stellantis, which will collaborate with Archer in building the facility by providing technology and capital for production, is aiming for mass production of Archer's eVTOL (electric vertical take-off and landing vehicle) on the basis of an exclusive contract.

To demonstrate commitment to the project, Stellantis also announced plans to provide up to $150 million in equity capital to the U.S. partner.

Stellantis also intends to increase its strategic stake through future purchases of Archer shares on the open market.

(Andrea Mandalà, editing Stefano Bernabei)