Archer says Stellantis to help fund some air-taxi production costs

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Archer says Stellantis to help fund some air-taxi production costs - Channel News Asia

Quick Summary:

:Archer Aviation on Thursday announced an agreement-in-principle with Stellantis under which the automaker would bear up to $370 million of labor-related costs to support a planned ramp-up of the air-taxi maker's aircraft.

The San Jose, California-based company did not disclose the size of investment for the planned Los Angeles project.

Separately, the eVTOL maker announced plans to launch an air mobility network in Los Angeles, with operations beginning as early as 2026.