- Construction is well underway on the world’s first
high-volume eVTOL aircraft manufacturing facility in Covington,
Georgia, USA
- Experienced Stellantis personnel are providing expertise
alongside Archer teams to prepare efficient, innovative
manufacturing operations
- Stellantis recently increased its strategic shareholding in
Archer through a series of purchases of Archer stock in the open
market
- Archer’s Midnight aircraft currently featured at the Paris
Air Show
PARIS AIR SHOW - Archer Aviation Inc. (NYSE: ACHR) and
Stellantis N.V. today announced progress in their strategic
manufacturing partnership at the 2023 Paris Air Show. With
construction now well underway on the world’s first high-volume
eVTOL aircraft manufacturing facility located on an approximately
100-acre campus in Covington, Georgia, Stellantis recently
increased its strategic shareholding through a series of purchases
of Archer stock in the open market.
This press release features multimedia. View
the full release here:
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Rendering of world’s first high-volume
eVTOL aircraft manufacturing facility located in Covington,
Georgia. (Graphic: Business Wire)
“The Stellantis and Archer teams are moving full speed ahead in
execution mode to ensure we meet our goal of bringing scalable
manufacturing of Archer’s aircraft online in mid-2024,” said
Stellantis CEO Carlos Tavares. “We believe this unique partnership
is setting the standard for cross-industry collaboration and
continues to be a key pillar of our strategy to ensure Stellantis
leads the way the world moves, providing freedom of mobility in all
ways. With our trusted teams onsite working shoulder-to-shoulder
with Archer, I have no doubt that we are on the right path.”
“At Archer, our goal is not just to get to commercialization,
but to achieve it at scale. High-volume manufacturing is critical
to ensuring we can meet this goal and joining forces with one of
the leading mobility companies in the world is helping us realize
the once-in-a-generation opportunity we have to redefine urban
transportation,” said Archer’s founder and CEO, Adam Goldstein. “I
couldn’t be prouder of what we’ve already accomplished with this
partnership as we continue to lead the industry in building out
manufacturing capabilities.”
During the manufacturing ramp-up phase, the goal is to leverage
each company’s respective strengths to enable the rapid scaling of
aircraft production to meet Archer’s commercialization plans. As
the two companies rapidly progress towards bringing this facility
online in mid-2024, there are now experienced Stellantis personnel
working full time alongside the Archer team, supporting operational
readiness with the current focus being on manufacturing automation
and component sourcing. Stellantis personnel are now embedded
across almost all areas of Archer’s operations, including
manufacturing, engineering, supply chain, quality, facilities and
human resources.
Initial manufacturing operations will be capable of producing up
to 650 aircraft per year with room for expansion to support
production of up to 2,300 aircraft per year. Manufacturing aircraft
at these volumes would make this site the world’s leading aircraft
manufacturing facility by volume.
About Archer
Archer is designing and developing electric vertical takeoff and
landing aircraft for use in urban air mobility networks. Archer’s
mission is to unlock the skies, freeing everyone to reimagine how
they move and spend time. Archer's team is based in Santa Clara,
CA.
To learn more, visit www.archer.com.
About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext
Paris: STLAP) is one of the world’s leading automakers and a
mobility provider. Its storied and iconic brands embody the passion
of their visionary founders and today’s customers in their
innovative products and services, including Abarth, Alfa Romeo,
Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia,
Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys.
Powered by our diversity, we lead the way the world moves –
aspiring to become the greatest sustainable mobility tech company,
not the biggest, while creating added value for all stakeholders as
well as the communities in which it operates.
For more information, visit www.stellantis.com.
Archer Forward Looking Statements
This press release contains forward looking statements regarding
Archer’s future business plans, including statements regarding the
timing of Archer’s development, commercialization, and
certification of its eVTOL aircraft. These forward looking
statements are only predictions and may differ materially from
actual results due to a variety of factors. The risks and
uncertainties that could cause actual results to differ from the
results predicted are more fully detailed in Archer’s filings with
the Securities and Exchange Commission, including its most recent
Annual Report on Form 10-K, available at www.sec.gov. In addition,
please note that any forward looking statements contained herein
are based on assumptions that Archer believes to be reasonable as
of the date of this press release. Archer undertakes no obligation
to update these statements as a result of new information or future
events.
STELLANTIS FORWARD-LOOKING STATEMENTS
This communication contains forward-looking statements. In
particular, statements regarding future events and anticipated
results of operations, business strategies, the anticipated
benefits of the proposed transaction, future financial and
operating results, the anticipated closing date for the proposed
transaction and other anticipated aspects of our operations or
operating results are forward-looking statements. These statements
may include terms such as “may”, “will”, “expect”, “could”,
“should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”,
“on track”, “design”, “target”, “objective”, “goal”, “forecast”,
“projection”, “outlook”, “prospects”, “plan”, or similar terms.
Forward-looking statements are not guarantees of future
performance. Rather, they are based on Stellantis’ current state of
knowledge, future expectations and projections about future events
and are by their nature, subject to inherent risks and
uncertainties. They relate to events and depend on circumstances
that may or may not occur or exist in the future and, as such,
undue reliance should not be placed on them.
Actual results may differ materially from those expressed in
forward-looking statements as a result of a variety of factors,
including: the impact of the COVID-19 pandemic, the ability of
Stellantis to launch new products successfully and to maintain
vehicle shipment volumes; changes in the global financial markets,
general economic environment and changes in demand for automotive
products, which is subject to cyclicality; changes in local
economic and political conditions, changes in trade policy and the
imposition of global and regional tariffs or tariffs targeted to
the automotive industry, the enactment of tax reforms or other
changes in tax laws and regulations; Stellantis’ ability to expand
certain of their brands globally; its ability to offer innovative,
attractive products; its ability to develop, manufacture and sell
vehicles with advanced features including enhanced electrification,
connectivity and autonomous-driving characteristics; various types
of claims, lawsuits, governmental investigations and other
contingencies, including product liability and warranty claims and
environmental claims, investigations and lawsuits; material
operating expenditures in relation to compliance with
environmental, health and safety regulations; the intense level of
competition in the automotive industry, which may increase due to
consolidation; exposure to shortfalls in the funding of Stellantis’
defined benefit pension plans; the ability to provide or arrange
for access to adequate financing for dealers and retail customers
and associated risks related to the establishment and operations of
financial services companies; the ability to access funding to
execute Stellantis’ business plans and improve its businesses,
financial condition and results of operations; a significant
malfunction, disruption or security breach compromising information
technology systems or the electronic control systems contained in
Stellantis’ vehicles; Stellantis’ ability to realize anticipated
benefits from joint venture arrangements; disruptions arising from
political, social and economic instability; risks associated with
our relationships with employees, dealers and suppliers; increases
in costs, disruptions of supply or shortages of raw materials,
parts, components and systems used in Stellantis’ vehicles;
developments in labor and industrial relations and developments in
applicable labor laws; exchange rate fluctuations, interest rate
changes, credit risk and other market risks; political and civil
unrest; earthquakes or other disasters; risks and other items
described in the Company’s Annual Report on Form 20-F for the year
ended December 31, 2022 and Current Reports on Form 6-K and
amendments thereto filed with the SEC; and other risks and
uncertainties.
Any forward-looking statements contained in this communication
speak only as of the date of this document and Stellantis disclaims
any obligation to update or revise publicly forward-looking
statements. Further information concerning Stellantis and its
businesses, including factors that could materially affect
Stellantis’ financial results, is included in Stellantis’ reports
and filings with the U.S. Securities and Exchange Commission and
AFM.
Source: Archer Text: ArcherIR
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version on businesswire.com: https://www.businesswire.com/news/home/20230618594234/en/
Archer Media Contacts The Brand Amp -
Archer@TheBrandAmp.com
Stellantis Media Contacts Fernão Silveira +31 6 43 25 43
41 – fernao.silveira@stellantis.com Valerie Gillot +33 6 83 92 92
96 - valerie.gillot@stellantis.com
Stellantis NV (BIT:STLAM)
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