The vision of the eVTOL industry is to eventually create broader infrastructure to allow flying cars to become a consumer's personal mode of transport.

We have absolutely all the techniques, the financial robustness to face that,' said Tavares.Įlectric flying vehicles are designed to propel themselves vertically using electrically-powered motors and rotating wings - like smaller, quieter helicopters. The company is pushing into the eVTOL market even as recession fears weigh on automakers. Stellantis, which was created by the merger of Fiat Chrysler and PSA Groupe, has already spent billions developing electric vehicles through brands like Jeep, Ram, Dodge and Chrysler.

'Manufacturing and high-volume manufacturing is something we think we know how to do.' 'We see a perfect complementarity, a perfect synergy between what they are doing and what we can bring namely, but not only on the manufacturing system,' said Tavares. To meet that deadline, Stellantis, which is accustomed to producing over 500,000 cars per month, will assist in Archer's manufacturing process. Wednesday's announcement deepens Stellantis' investment in the potentially trillion dollar electric vertical takeoff and landing, or eVTOL, market.Īrcher expects that its electric flying cars will be available for commercial use by 2025, granted it receives proper certification from the Federal Aviation Administration. Stellantis, the fifth largest automaker in the world, will assist in Archer's manufacturing process for its 'Midnight' model, as well as invest up to $150 million in the company over the next few years.įiat Chrysler, Stellantis' predecessor, initially partnered with Archer in 2021 to get the startup's flying vehicles off the ground, providing access to a streamlined supply chain, engineering and material resources. Personal Loans for 670 Credit Score or Lower

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