Despite an adjusted EBITDA loss of US$93.8m for Q2 2024, Adam Goldstein, Chief Executive of electric vertical take-off and landing (eVTOL) aircraft developer Archer Aviation, labelled it one of the company’s “most productive” periods to date.
On 8 August 2024, Archer announced it had agreed the terms of a future manufacturing relationship with Stellantis. The automaker, which has already invested US$300m in Archer, will fund around US$370m of the costs necessary for building 650 eVTOLs per year. It will also provide up to US$20m of the initial capex as production ramps up. In exchange, Stellantis will receive shares in Archer based on total labour costs incurred on a rolling quarterly basis, as well as US$30m of performance warrants to help the company meet its output goals.
