Stellantis builds an air taxi
2023.01.04 12:12
Stellantis builds an air taxi
Budrigannews.com – Stellantis, a car manufacturer, and Archer Aviation, a U.S. company, announced on Wednesday that Stellantis would increase its stake in Archer Aviation and contribute to the development of the electric Midnight eVTOL.
Air taxis, which can take off and land vertically to transport passengers to airports or on short trips between cities, are attracting investment from both established businesses and start-ups.
From 2024 on, the vertical take-off and landing (eVTOL) Midnight aircraft will be manufactured in Covington, Georgia. It can carry four passengers and a pilot and has a range of 100 miles (161 kilometers).
It is made to go back-to-back short trips of about 20 miles with a 10 minute charging time in between.
In a joint statement, the companies stated, “The goal is for Stellantis to mass produce Archer’s eVTOL aircraft as its exclusive contract manufacturer.”
Stellantis is the result of the merger of France’s Peugeot and Fiat Chrysler (OTC:). will provide Archer with equity capital of up to $150 million that it may draw on at its discretion in 2023 and 2024, subject to certain business milestones being met.
Stellantis will also buy more Archer stock on the open market to increase its existing stake.
According to the statements made by the businesses, “These actions, along with the other elements of this expanded partnership, will enable Stellantis to become a long-term, cornerstone investor in Archer.”
Other eVTOL adventures including the vehicle business incorporate a coordinated effort between Hyundai Engine Gathering’s air taxi unit and aviation provider Honeywell Worldwide (NASDAQ:) to create systems for avionics.
Although the auto industry is well ahead of the game when it comes to battery design, it is thought that the weight of the current generation of batteries will limit the range and payload of new vehicles.
French automaker Renault and European plane manufacturer Airbus formed a partnership in November (EPA:). to create a new generation of hybrid technology and electric batteries for automobiles and aircraft.
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