Automotive OEM Stellantis N.V. is further investing $55 million in air taxi startup Archer Aviation Inc. to help continue to build its manufacturing facility in Covington, Georgia, and build its electric vertical takeoff and landing (eVTOL) aircraft.
Previously, Stellantis invested $110 million in Archer in 2023 to help build the eVTOLs for Archer Aviation as well as gain strategic access to the aircraft.
Archer said it is on track to complete the manufacturing facility in Georgia later this year. The first phase consists of a 350,000 sq ft facility that will support the production of up to 650 aircraft annually.
The goal is to use the factory to ramp up the planned commercial launch of its air taxis globally, using Stellantis as its contract manufacturer.
In addition to its Georgia facility, Archer just last month rolled out plans to create a network of air taxi routes in the San Francisco Bay area of California. This includes the development of a 50-acre waterfront campus in South San Francisco, California with routes to neighboring cities.