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Stellantis paid $150 million for the right to be the first to mass-produce the Archer Midnight air taxi.
At CES 2023, Stellantis announced a deal with electric air taxi developer Archer. As part of the agreement, Stellantis provides Archer with $150 million in equity capital, and in return receives the right to become the exclusive serial contract manufacturer of the Midnight VTOL air taxi. Thus, the car manufacturer will smoothly move into the category of production of “flying cars”.
It should be said that Stellantis and Archer signed a preliminary agreement on the admission of the developer to the supply chains and production experience of the industrial concern back in January 2021. Now the parties have taken another step forward: Archer has received money for its needs for 2023 and 2024, and Stellantis has secured the right to be the first to mass-produce air taxis.
Production of the Midnight air taxi could begin no earlier than 2024 if the Archer receives all four FAA certifications: type, production, airworthiness and operation. Only in this way can a developer of aircraft be allowed to commercially operate their aircraft.
Nevertheless, there are already potential buyers for Midnight devices. If Archer receives all FAA certificates, United Airlines will purchase 200 air taxis from Archer. The "flying car" Midnight takes off and lands vertically, but thanks to the turning rotors in the air, it switches to horizontal flight on wings, which greatly saves battery power. On a full battery charge, the air taxi can deliver up to four passengers over a distance of about 100 km at speeds up to 240 km/h.