news/HON/2023.01.04/Stellantis joins forces with U.S. firm Archer to build air taxis.txt

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)