Archer, a manufacturer of electric vertical takeoff and landing (eVTOL) aircraft, and Fiat Chrysler Automobiles (FCA) have entered into a definitive agreement to enable Archer to benefit from access to FCA’s low-cost supply chain, advanced composite material capabilities, and engineering and design experience.
The new partnership will help accelerate Archer’s timeline in becoming an industry leader with the resources and capabilities to capitalize on the new era of sustainable air mobility, a market that Morgan Stanley estimates will be $1.5 trillion by 2040.
Archer will manufacture high-volume, composite eVTOL aircraft, with the intent of starting production in 2023. FCA has already collaborated on cockpit design elements of Archer’s first aircraft, which is expected to be unveiled in early 2021. The 100% electric aircraft will be capable of traveling distances of up to 60 miles at 150 mph.
Archer says that the 60-mile range is based on utilizing battery technology that’s commercially available today. The performance estimates account for realistic battery pack integration, inaccessible energy at low state-of-charge, emergency reserves, and capacity fade at the end of life of the battery.
Through this announced collaboration, the companies will work together to decrease the cost of production significantly, enabling Archer to bring affordably priced service to customers via its ultra-quiet, high-performance eVTOL aircraft.