Stellantis has invested another $55 million in U.S.-based Archer as part of a deal to build a plant where the eVTOL Midnight, an electric vertical take-off and landing aircraft, will be produced.

A note says this, adding that the decision on the new investment was made after flight test results were achieved last month.

Archer, a vertical takeoff and landing electric aircraft company, will complete construction of the manufacturing plant in Georgia, U.S., by the end of this year. The plant is designed to support the production of 650 aircraft per year.

Archer's goal, it says, is to replace 60- to 90-minute car rides with electric air cab flights lasting an estimated 10 to 20 minutes. Archer's Midnight is an aircraft capable of carrying four passengers and a pilot, designed to make rapid back-to-back flights with minimal recharging time between flights.

The investment announced today is in addition to the $39 million purchase of Archer shares completed earlier this year and the $110 million invested by Stellantis in Archer in 2023.

(Francesca Piscioneri, editing Andrea Mandalà)