• Earlier this week Archer received the certificate of occupancy for its ~400,000 square foot aircraft manufacturing facility—referred to as ARC—in Covington, GA and held a commemorative ribbon cutting ceremony
• Tooling load-in is already underway ahead of the planned start of initial production beginning in early 2025, with the goal being to ramp production to a rate of two aircraft per month by the end of the year
• Stellantis and Archer are working to finalize an agreement pursuant to which Stellantis would work with Archer as its exclusive contract manufacturer to mass produce Archer's Midnight eVTOL aircraft at this facility, contributing capital, advanced manufacturing technology and expertise and experienced personnel with the goal of scaling this facility to 650 aircraft annually by 2030

COVINGTON, Ga.--(BUSINESS WIRE)--$ACHR--Archer Aviation Inc. (NYSE : ACHR) announced today that earlier this week it received the certificate of occupancy for its high-volume manufacturing facility, ARC, which is connected to the Covington Municipal Airport in Georgia. Archer is now working to complete the tooling load-in for the initial manufacturing line at this facility. Production is planned to begin in early 2025, with the goal of ramping to a rate of two aircraft per month by the end of the year.

Archer built ARC in close partnership with Stellantis, and the two companies are continuing to progress their plans to mass-produce Archer's Midnight aircraft. Stellantis is contributing capital, advanced manufacturing technology and expertise and experienced personnel with the goal of scaling this facility to 650 aircraft annually by 2030.

Georgia Governor Brian Kemp commented, "When we announced Archer's choice to build this new manufacturing facility in Newton County, we knew it was just the start of an incredible relationship. Today's announcement marks the next step in that journey, reaffirming Georgia's commitment to working with innovative companies like Archer to create quality jobs and opportunities for years to come. Congratulations to Archer, the Covington community, and all the hardworking Georgians who will find meaningful employment at this campus."

Congressman Mike Collins of Georgia who sits on the House Committee on Transportation and Infrastructure and Committee on Science, Space, and Technology added, "The completion of Archer's manufacturing facility in Covington highlights Georgia's leadership in innovation, advanced manufacturing and job creation. I am excited to support this transformative chapter in aviation, which will drive progress, deliver economic benefits for Georgia, and create opportunity for everyone involved with and around this facility."

"The completion of this facility is a testament to the state of the industry—shifting from R&D into commercialization. With construction on ARC now complete, our team is focused on the start of production planned for early next year. From there, it's all about execution and scaling. I'm incredibly proud of the Archer team and our partners for getting this done so fast and on budget and can't wait to see our facility begin producing aircraft," said Adam Goldstein, Archer's founder and CEO.

"Supporting Archer's electric aircraft growth with our deep manufacturing expertise is a great opportunity for the two companies," said Stellantis Chief Manufacturing and Supply Chain Officer Arnaud Deboeuf. "Congratulations to the Archer team for this milestone. It is a significant step in our journey together as we take clean mobility to the sky."

ARC is where Archer plans to produce its all-electric vertical take-off and landing aircraft, Midnight, which is designed to offer passengers a sustainable, low-noise and safe alternative to ground transportation in congested cities around the world.

About Archer

Archer is designing and developing the key enabling technologies and aircraft necessary to power the future of aviation. To learn more, visit .

About Stellantis

Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world's leading automakers aiming to provide clean, safe and affordable freedom of mobility to all. It's best known for its unique portfolio of iconic and innovative brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, with single-digit percentage compensation of the remaining emissions, while creating added value for all stakeholders. For more information, visit .

Forward-Looking Statements

This press release contains forward looking statements regarding Archer's future business plans and expectations, including statements regarding its business strategy and plans, aircraft performance, the design and target specifications of its aircraft, the pace at which Archer intends to design, develop, certify, conduct test flights, manufacture and commercialize its planned eVTOL aircraft, and the production timeline, ramp-up and production volume of our manufacturing facilities. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Archer's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, available at www.sec.gov. In addition, please note that any forward-looking statements contained herein are based on assumptions that Archer believes to be reasonable as of the date of this press release. Archer undertakes no obligation to update these statements as a result of new information or future events.

Stellantis Forward Looking Statements

This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as "may", "will", "expect", "could", "should", "intend", "estimate", "anticipate", "believe", "remain", "on track", "design", "target", "objective", "goal", "forecast", "projection", "outlook", "prospects", "plan", or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis' current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; Stellantis' ability to successfully manage the industry-wide transition from internal combustion engines to full electrification; Stellantis' ability to offer innovative, attractive products and to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; Stellantis' ability to produce or procure electric batteries with competitive performance, cost and at required volumes; Stellantis' ability to successfully launch new businesses and integrate acquisitions; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis' vehicles; exchange rate fluctuations, interest rate changes, credit risk and other market risks; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis' vehicles; changes in local economic and political conditions; changes in trade policy, the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; the level of governmental economic incentives available to support the adoption of battery electric vehicles; the impact of increasingly stringent regulations regarding fuel efficiency requirements and reduced greenhouse gas and tailpipe emissions; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the level of competition in the automotive industry, which may increase due to consolidation and new entrants; Stellantis' ability to attract and retain experienced management and employees; exposure to shortfalls in the funding of Stellantis' defined benefit pension plans; Stellantis' ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the operations of financial services companies; Stellantis' ability to access funding to execute its business plan; Stellantis' ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with Stellantis' relationships with employees, dealers and suppliers; Stellantis' ability to maintain effective internal controls over financial reporting; developments in labor and industrial relations and developments in applicable labor laws; earthquakes or other disasters; risks and other items described in Stellantis' Annual Report on Form 20-F for the year ended December 31, 2023 and Current Reports on Form 6-K and amendments thereto filed with the SEC; and other risks and uncertainties.

Any forward-looking statements contained in this communication speak only as of the date of this document and Stellantis disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning Stellantis and its businesses, including factors that could materially affect Stellantis' financial results, is included in Stellantis' reports and filings with the U.S. Securities and Exchange Commission and AFM.

Source: Archer

Text: ArcherIR

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