PARIS, Jan 4 (Reuters) - Car maker Stellantis will help build Archer Aviation's electric aircraft Midnight eVTOL and increase its stake in the U.S. company, the two firms said in a joint statement on Wednesday.

The group, created from the merger of Fiat Chrysler with France's PSA, will provide up to $150 million in equity capital in 2023 and 2024, subject to the achievement of certain milestones, the statement said.

The vertical take-off and landing aircraft, which can carry four passengers and a pilot with a range of 100 miles (161 km), will be manufactured in Covington, Georgia, from 2024. (Reporting by Gilles Guillaume; writing by Silvia Aloisi, editing by Tassilo Hummel)