Agreement between Archer and Fiat Chrysler Automobiles

January 18 (2021

Archer and Fiat Chrysler Automobiles (FCA) have entered into a definitive agreement to enable Archer to benefit from access to FCA's low-cost supply chain, advanced composite material capabilities, and engineering and design experience.

California-based Archer is creating the world's first all-electric airline that moves people throughout the world's cities in a quick, safe, sustainable and cost-effective manner. The new partnership will help accelerate Archer's timeline in becoming an industry leader with the resources and capabilities to capitalize on the new era of sustainable air mobility, a market that Morgan Stanley estimates will be $1.5 trillion by 2040.

Archer will manufacture high-volume, composite, electric vertical takeoff and landing (eVTOL) aircraft, with the intent of starting production in 2023. FCA, the parent company of established automobile brands including Chrysler, Dodge, Jeep and Ram, has already collaborated on cockpit design elements of Archer's first aircraft, which is expected to be unveiled in early 2021. The 100% electric aircraft will be capable of traveling distances of up to 60 miles at 150 mph. Through this announced collaboration, the companies will work together to significantly decrease the cost of production, enabling Archer to bring affordably priced service to customers via its ultra-quiet, high-performance eVTOL aircraft.

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