- Earlier this week Archer received the certificate of occupancy
for its ~400,000 square foot aircraft manufacturing
facility—referred to as ARC—in Covington, GA and held a
commemorative ribbon cutting ceremony
- Tooling load-in is already underway ahead of the planned start
of initial production beginning in early 2025, with the goal being
to ramp production to a rate of two aircraft per month by the end
of the year
- Stellantis and Archer are working to finalize an agreement
pursuant to which Stellantis would work with Archer as its
exclusive contract manufacturer to mass produce Archer’s Midnight
eVTOL aircraft at this facility, contributing capital, advanced
manufacturing technology and expertise and experienced personnel
with the goal of scaling this facility to 650 aircraft annually by
2030
Archer Aviation Inc. (NYSE : ACHR) announced today that earlier
this week it received the certificate of occupancy for its
high-volume manufacturing facility, ARC, which is connected to the
Covington Municipal Airport in Georgia. Archer is now working to
complete the tooling load-in for the initial manufacturing line at
this facility. Production is planned to begin in early 2025, with
the goal of ramping to a rate of two aircraft per month by the end
of the year.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20241219741014/en/
Image: Construction is complete on
Archer’s high-volume manufacturing facility - ARC (Photo:
Archer)
Archer built ARC in close partnership with Stellantis, and the
two companies are continuing to progress their plans to
mass-produce Archer’s Midnight aircraft. Stellantis is contributing
capital, advanced manufacturing technology and expertise and
experienced personnel with the goal of scaling this facility to 650
aircraft annually by 2030.
Georgia Governor Brian Kemp commented, “When we announced
Archer’s choice to build this new manufacturing facility in Newton
County, we knew it was just the start of an incredible
relationship. Today’s announcement marks the next step in that
journey, reaffirming Georgia’s commitment to working with
innovative companies like Archer to create quality jobs and
opportunities for years to come. Congratulations to Archer, the
Covington community, and all the hardworking Georgians who will
find meaningful employment at this campus.”
Congressman Mike Collins of Georgia who sits on the House
Committee on Transportation and Infrastructure and Committee on
Science, Space, and Technology added, "The completion of Archer’s
manufacturing facility in Covington highlights Georgia’s leadership
in innovation, advanced manufacturing and job creation. I am
excited to support this transformative chapter in aviation, which
will drive progress, deliver economic benefits for Georgia, and
create opportunity for everyone involved with and around this
facility.”
“The completion of this facility is a testament to the state of
the industry—shifting from R&D into commercialization. With
construction on ARC now complete, our team is focused on the start
of production planned for early next year. From there, it’s all
about execution and scaling. I’m incredibly proud of the Archer
team and our partners for getting this done so fast and on budget
and can’t wait to see our facility begin producing aircraft,” said
Adam Goldstein, Archer’s founder and CEO.
“Supporting Archer’s electric aircraft growth with our deep
manufacturing expertise is a great opportunity for the two
companies,” said Stellantis Chief Manufacturing and Supply Chain
Officer Arnaud Deboeuf. “Congratulations to the Archer team for
this milestone. It is a significant step in our journey together as
we take clean mobility to the sky.”
ARC is where Archer plans to produce its all-electric vertical
take-off and landing aircraft, Midnight, which is designed to offer
passengers a sustainable, low-noise and safe alternative to ground
transportation in congested cities around the world.
About Archer
Archer is designing and developing the key enabling technologies
and aircraft necessary to power the future of aviation. 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 aiming to
provide clean, safe and affordable freedom of mobility to all. It’s
best known for its unique portfolio of iconic and innovative brands
including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS
Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram,
Vauxhall, Free2move and Leasys. Stellantis is executing its Dare
Forward 2030, a bold strategic plan that paves the way to achieve
the ambitious target of becoming a carbon net zero mobility tech
company by 2038, with single-digit percentage compensation of the
remaining emissions, while creating added value for all
stakeholders. For more information, visit www.stellantis.com.
Forward-Looking Statements
This press release contains forward looking statements regarding
Archer’s future business plans and expectations, including
statements regarding its business strategy and plans, aircraft
performance, the design and target specifications of its aircraft,
the pace at which Archer intends to design, develop, certify,
conduct test flights, manufacture and commercialize its planned
eVTOL aircraft, and the production timeline, ramp-up and production
volume of our manufacturing facilities. 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 and Quarterly Report on Form 10-Q,
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 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; Stellantis’ ability to successfully manage the
industry-wide transition from internal combustion engines to full
electrification; Stellantis’ ability to offer innovative,
attractive products and to develop, manufacture and sell vehicles
with advanced features including enhanced electrification,
connectivity and autonomous-driving characteristics; Stellantis’
ability to produce or procure electric batteries with competitive
performance, cost and at required volumes; Stellantis’ ability to
successfully launch new businesses and integrate acquisitions; a
significant malfunction, disruption or security breach compromising
information technology systems or the electronic control systems
contained in Stellantis’ vehicles; exchange rate fluctuations,
interest rate changes, credit risk and other market risks;
increases in costs, disruptions of supply or shortages of raw
materials, parts, components and systems used in Stellantis’
vehicles; changes in local economic and political conditions;
changes in trade policy, 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; the level of governmental economic incentives
available to support the adoption of battery electric vehicles; the
impact of increasingly stringent regulations regarding fuel
efficiency requirements and reduced greenhouse gas and tailpipe
emissions; 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 level of
competition in the automotive industry, which may increase due to
consolidation and new entrants; Stellantis’ ability to attract and
retain experienced management and employees; exposure to shortfalls
in the funding of Stellantis’ defined benefit pension plans;
Stellantis’ ability to provide or arrange for access to adequate
financing for dealers and retail customers and associated risks
related to the operations of financial services companies;
Stellantis’ ability to access funding to execute its business plan;
Stellantis’ ability to realize anticipated benefits from joint
venture arrangements; disruptions arising from political, social
and economic instability; risks associated with Stellantis’
relationships with employees, dealers and suppliers; Stellantis’
ability to maintain effective internal controls over financial
reporting; developments in labor and industrial relations and
developments in applicable labor laws; earthquakes or other
disasters; risks and other items described in Stellantis’ Annual
Report on Form 20-F for the year ended December 31, 2023 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/20241219741014/en/
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