Stellantis Demonstrates Continued Confidence in Archer by Expanding Strategic Involvement in the Company
Stellantis completes a series of open market purchases of approximately 8. 3 million shares
In January 2023, Stellantis announced that its goal was for Stellantis to mass-produce the Archer’s Midnight aircraft as an exclusively contract manufacturer, allowing Archer to follow its path to commercialization by helping it avoid hundreds of millions of dollars in expenses. The phase of Archer’s high-volume production facility in Georgia is still underway and is expected to be completed by the end of this year. The first phase is comprised of approximately 350,000 square feet of structure on an approximately 100-acre site designed to aid the production of up to 650 aircraft per year, making it one of the highest volume production facilities in the aviation industry.
Archer’s Midnight aircraft is designed to be safe, durable, quiet, and carry 4 passengers plus a pilot. Midnight is optimized to work back-to-back over short distances of around 20 to 50 miles, with a charging time of around 10 minutes in between.
“Archer has established itself as a market leader in aviation electrification and we believe that, combined, we can usher in the next transportation revolution,” said Carlos Tavares, CEO of Stellantis. “This recent resolution through Stellantis is a testament to our confidence in Archer’s team and the progress we are seeing firsthand through our deep partnership. “
“We’re on the verge of changing the way the world moves across the sky,” said Adam Goldstein, founder and CEO of Archer. “Archer and Stellantis are working side-by-side to make something once in a lifetime a reality. An opportunity to redefine urban transport and deliver for the world’s cities and our shareholders.
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About Stellantis
Stellantis N. V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers whose goal is to offer clean and affordable mobility freedom for all. It is best known for its unique portfolio of iconic, cutting-edge vehicles. 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, an ambitious strategic plan This paves the way for the ambitious goal of creating a net-zero carbon mobility generation company by 2038, with single-digit percentage offsetting of remaining emissions, while creating added value for all stakeholders. For more information, scale in www. stellantis. com
About Archer
For more information, www. archer. com.
Stellantis Media Contacts
Fernão SILVEIRA 31 6 43 25 43 – fernao. silveira@stellantis. comShawn MORGAN 1 248 760 2621 – shawn. morgan@stellantis. com
Archer Media Contacts
Archer Forward-Looking Statements This press release includes forward-looking statements relating to Archer’s long-term business plans and product roadmaps and the expected timing thereof, adding statements relating to the development, commercialization and production of the aircraft Archer eVTOL, such as marketing. Archer eVTOL aircraft schedule. eVTOL aircraft. These forward-looking statements are only predictions and could differ materially from actual results due to factors. Risks and uncertainties that could also cause actual effects to differ from expected effects are discussed more fully under the heading “Risk Factors” in Archer’s Annual Report on Form 10-K for the fiscal year ended December 31. December 2023, as well as in other archived documents. through Archer from time to time with the Securities and Exchange Commission (SEC) which can be found at the SEC’s online website at www. sec. gov. Additionally, please note that all forward-looking statements contained in this press release are based on assumptions that Archer considers conservative as of the date of this press release. Archer assumes no legal responsibility to update such statements as a result of new data or long-term events.
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