Type above and press Enter to search. Press Esc to cancel.

  1. Cars and Engines
  2. What's Happening
  3. Stellantis Signals Its Continued Confidence in Archer by Further Increasing Its Strategic Shareholding in the Company

Stellantis Signals Its Continued Confidence in Archer by Further Increasing Its Strategic Shareholding in the Company

21 Mar 2024
  • Is Stellantis Partnership with Archer Redefining Urban Transportation with Midnight Aircraft Mass Production?

Stellantis N.V. and Archer Aviation Inc. (NYSE: ACHR) today announced that Stellantis recently completed a series of open market purchases of ~8.3 million shares of Archer’s stock signaling Stellantis’ continued confidence in Archer’s plans to bring electric vertical take-off and landing (eVTOL) aircraft to market beginning in 2025. Stellantis’ increased investment in Archer follows CEO Carlos Tavares’ recent visit to Archer’s headquarters and manufacturing facilities in Santa Clara, California.

A Game-Changer in Urban Transportation

A Game-Changer in Urban Transportation

In January 2023, Stellantis announced that its goal was for Stellantis to mass produce Archer’s Midnight aircraft as its exclusive contract manufacturer thereby allowing Archer to strengthen its path to commercialization by helping it avoid hundreds of millions of dollars of spending. The construction on the first phase of Archer’s high-volume manufacturing facility in Georgia remains on track to be completed later this year. The first phase is a build out of ~350,000 square feet on a ~100 acre site designed to support production of up to 650 aircraft annually, which would make it one of the largest manufacturing facilities by volume in the aircraft industry.

Archer’s Midnight aircraft is designed to be safe, sustainable, quiet and carry four passengers plus a pilot. Midnight is optimized for back-to-back short distance trips of around 20-50 miles, with a charging time of approximately 10 minutes in-between.

“Archer has established itself as a market leader in the electrification of aviation and we believe that together we can usher in the next transportation revolution,” said Stellantis CEO Carlos Tavares. “This recent move by Stellantis signals our confidence in Archer’s team and the progress we see firsthand through our deep partnership.”

“We are on the cusp of changing the way the world moves in the sky,” said Adam Goldstein, founder and CEO of Archer. “Archer and Stellantis are working side by side to realize a once-in-a-generation opportunity to redefine urban transportation and deliver tremendous value to the world’s cities and our shareholders.”

Stellantis has been a strategic partner to Archer since 2020 through various collaboration initiatives, and as an investor since 2021. During this time, Archer has leveraged Stellantis’ deep manufacturing, supply chain, and design expertise in connection with Archer’s efforts to design, develop, and commercialize its eVTOL aircraft.

Motor 283

BY Motor 283

Motor 283 is the biggest automotive website created by a team of automotive enthusiats and this author page is used to show the readers the press releases and news posted on Motor 283 website.

NEW MORGAN PLUS FOUR MAKES ITS MIDDLE EAST GRAND PREMIERE ONBOARD THE ICONIC QE2 CRUISE SHIP IN DUBAI

17 Jun 2024
NEW MORGAN PLUS FOUR MAKES ITS MIDDLE EAST GRAND PREMIERE  ONBOARD THE ICONIC QE2 CRUISE SHIP IN DUBAI

Adamas Motor Group, the exclusive Retail Partner of Morgan Motor Company in the UAE and Bahrain, proudly announces a significant milestone in its expansion in the Middle East region with the Grand Premiere of the long-anticipated Morgan Plus Four sportscar held aboard the iconic Queen Elizabeth 2 cruise ship in Dubai, UAE.

The highly exclusive event marked the official arrival of the Morgan brand in the region with Adamas Motor Group officially appointed to support the wider GCC network with providing a suite of Managed Services, in addition to their continued efforts as exclusive Retail Partner in the UAE and Bahrain.

The event was graced by the presence of prominent guests from Morgan Motor Company including CEO, Massimo Fumarola and Chief Design Officer, Jonathan Wells, as well as His Majesty’s Consul General to Dubai and Northern Emirates, Oliver Christian. 

SBX CARS BREAKS WORLD RECORD FOR THE MOST VALUABLE CAR SOLD ONLINE

17 Jun 2024
SBX CARS BREAKS WORLD RECORD FOR THE  MOST VALUABLE CAR SOLD ONLINE

The Dubai-based 2015 Lamborghini Veneno Roadster featured on SBX Cars has become the most valuable car ever transacted via an online-only auction platform, selling for US$6,000,000 last week. The sale surpasses a 2017 Ferrari LaFerrari Aperta, which previously sold for US$5,360,000 in 2022. This marks not only a new online auction record, but also an impressive milestone for the newly-founded SBX Cars platform.

The rare Veneno Roadster, only one of nine worldwide, had previously appeared at a well-known in-person auction house in 2020, with an estimated sale price of between €4,500,000 and €5,500,000, however, failed to sell.

Previously owned by a member of the House of Saud, the royal family of Saudi Arabia, the coveted road-legal 6.5-liter naturally-aspirated V12 Veneno Roadster has a maximum output of 750 PS / 552 kW / 740 HP and accelerates from 0 to 100 km/h in just 2.9 seconds, with a top speed of 355 km/h.

Finished in a matt black over an interior trimmed in lime green and black leather, the super sports car also boasts lime-green pinstriping on the exterior, adding a touch of contrast and personality to its fighter-jet-like bodywork.

In the two months since launching, SBX Cars has registered thousands of global bidders from over 40 countries, and has sold cars into the US, Mexico, Dubai, Kuwait, Germany and Hong Kong. The platform is the world's first global premium auction site, selling the the most coveted and collectible vehicles to buyers all over the world.

SBX Cars also announced the exclusive rights to auction the highly-anticipated Lotus Black&Gold Collection - the world’s largest collection of Lotus historic cars and rare collectible assets from the famous John Player Special Formula One era.

The New MINI Cooper 5 Door

17 Jun 2024
The New MINI Cooper 5 Door

A few months after the launch of the new MINI Cooper 3 Door, the five-door Cooper is now joining the new MINI family. The MINI Cooper 5 Door is characterised by the brand's typical driving fun, extended space, and distinctive functionality. These make the five-seater an exceptional phenomenon in its segment, together with its unique design - a combination of tradition and modern, purist styling - and innovative assistance systems.

The body dimensions are almost identical to those of its predecessor and underline the basic idea behind every MINI: To create as much space as possible on a small footprint. In the case of the MINI Cooper 5 Door, this means an interior that offers enough space for five passengers. All of which benefits the occupants in terms of comfort and space. Short overhangs, clear surfaces and expressive accents also give the new MINI Cooper 5 Door its unmistakable charisma. Inside, digital innovations and an immersive user experience take the MINI DNA to a new level.

The larger body version of the purist MINI Cooper also delivers the brand's hallmark driving fun and agile handling. There is a choice of two efficient petrol engines which, combined with the modern chassis and precise steering, deliver the hallmark MINI go-kart feeling.

The three-cylinder petrol engine of the MINI Cooper 5 Door C generates 156 hp. The MINI Cooper 5 Door S is powered by a four-cylinder petrol engine with 204 hp. Hallmark MINI steering and powerful brakes ensure a high level of driving fun, safety, and comfort. Compact dimensions, short overhangs, and a small turning circle make the MINI Cooper 5 Door a versatile model for the city.

The new MINI Cooper is characterised by "Charismatic Simplicity". The design language of the current MINI family presents the traditional values of the brand with a striking clarity. The authentic design language of the new models combines advanced technology with elementary principles of vehicle design and brand origins.