Stellantis Drops Tens Of Millions In A Surprising Space: Flying Air Taxis
You wouldn't necessarily be surprised if Stellantis, the company that owns brands like Dodge, Chrysler, Jeep, Ram, and others, announced it was investing in something automotive related. However, judging by the company's most recent announcement, Stellantis is interested in taking to the skies. According to a press release, the automaker is investing $55 million into Archer, an aerospace company that's trying to make air travel (and travel in general) much more convenient through the production and use of electrically powered air taxis.
You've all heard flying taxi pitches before, but clearly Stellantis sees enough in Archer to drop tens of millions of dollars on the idea. The $55 million announced today, July 2nd, joins the $110 million Stellantis already invested into the company last year. Stellantis and Archer have been working together since 2020. Through the partnership, Stellantis will reportedly chip in with production and supply chain needs. When you're one of the largest automakers in the world, you have a lot more access to materials, factories, and manpower than others.
Archer's progress
As for Archer, it does seem like it has gotten at least a few ducks in a row, more so than other potential "flying car" companies. It has, for instance, completed test flights of its battery-powered vertical takeoff aircraft, dubbed "Midnight." The Midnight itself is an "eVTOL" or electric vertical takeoff and landing aircraft. It looks a little like the combination of a big drone and a V-22 Osprey. Additionally, it has been given the green light by the Federal Aviation Administration to operate as an airline. Archer's goal is to replace or substantially subsidize 20-50 mile commutes with air travel. Eventually, it hopes to produce 650 aircraft per year from its upcoming plant.
Archer has a lot of ground to cover, financially, legally, and literally with its fleet of aircraft, but several million dollars from a major automaker and some blessing from the federal government certainly helps. Both Archer and Stellantis haven't released an exact timeline for when you can expect to see electric flying taxis come to a city near you. Plus, getting a fleet to fly in a safe and legal matter is a massive undertaking. That said, you can't help but get at least a little bit excited over the prospect of a real air taxi.