Carmaker Stellantis will help build Archer Aviation's electric aircraft and increase its stake in the U.S. company, the two firms said on Wednesday, driving Archer's shares up nearly 17%.
electric aircraft and increase its stake in the U.S. company, the two firms said on Wednesday, driving Archer's shares up nearly 17%.
It is designed for back-to-back short distance trips of around 20 miles, with a charging time of approximately 10 minutes in-between. Stellantis will also increase its existing stake in Archer through stock purchases in the open market, though its CEO Carlos Tavares said it wanted to keep a minority holding.
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