To put this 650 aircraft annually number into perspective. This is the start of the Automotive <> Aviation domain convergence. Cessna's most successful airplane in production - the C172 - has built and produced 44,000+ units since its inception. In 2023 Cessna delivered 151 units (in 2019 before COVID the number was 126). Wright One aims to deliver electric turbines (an EDF) to customers making under $100,000 annually. Wright One aims to deliver urban air mobility to everyone. This means reducing the complexity of an electrified turbine, reducing the maintenance cost of a solution, and to scale our manufacturing process to obscene figures to be able to deliver on this promise. We are the Wright One.
In 2019, when we first started working with Stellantis, our collaboration was focused on conceptual aircraft interior designs. Now, they are our largest investor. Today, we are announcing the key terms that will cover the next phase of our partnership—a multi-faceted contract manufacturing relationship. As part of this, in addition to the approximately $300M that Stellantis has invested in Archer to date, Stellantis would fund up to nearly $400M in labor and CapEx under the contract manufacturing relationship to help us scale Midnight manufacturing of up to 650 aircraft annually. https://lnkd.in/g666AxdG
