ACHR
Archer Aviation Inc - Class A
Archer Aviation Inc - Class A
$ACHR reports progress in eVTOL manufacturing and strategic funding partnership with Stellantis.
Archer Aviation Inc announced progress in technology, manufacturing, and operations in their Q4 and FY 2022 shareholder letter. The company is nearing completion of the Midnight Aerostuctures First Build and expanded their partnership with Stellantis to manufacture Midnight. Stellantis will also provide strategic funding of up to $150M to fuel Archer's growth. The company aims to begin flight testing in mid-2023 and optimize for UAM 20-mile back-to-back trips with a low noise design. Archer is building a manufacturing facility in Covington, GA, capable of producing up to 650 aircraft per year.
6mo ago
$ACHR