Archer has revealed that investor Stellantis had increased its holding in the eVTOL developer by 8.3 million shares acquired in open market purchases, a buy valued at today’s opening price – US$5.02 – and worth approximately $41.7 million.
Archer says the shares buy underlines Stellantis’s “confidence in its plans to bring its Midnight eVTOL to the market in 2025”.
It is not entirely clear what Archer means by bringing the aircraft to the market. Up until last year, it referred to “service entry” in 2025. In addition, in a number of recent statements, Archer CEO Adam Goldstein referred to Midnight as a flying car, although the company has reverted to calling it an aircraft in this release.
RotorHub International posed a number of questions to Adam Goldstein to clarify several recent announcements, but to date we have yet to receive a response.
