Archer Aviation Shares Surge Following Completion of New Manufacturing Facility

Archer Aviation Inc. (NYSE:ACHR) shares rose by 6% following the company's announcement that it has completed the construction of its high-volume manufacturing facility, ARC, located next to Covington Municipal Airport in Georgia. This development represents a significant step as the company prepares to begin production of its fully electric vertical takeoff and landing aircraft, Midnight, in early 2025.

The completion of ARC signifies a transition from research and development to commercialization, with the company targeting the production of two aircraft per month by the end of 2025. This move is part of a broader partnership with automotive giant Stellantis, which is providing capital, advanced manufacturing technology, expertise, and personnel to help the facility reach an annual production capacity of 650 aircraft by 2030.

Local government officials have welcomed the news. Georgia Governor Brian Kemp and Congressman Mike Collins expressed their support for the project, highlighting its potential for innovation, job creation, and economic benefits in the region. Archer’s founder and CEO, Adam Goldstein, emphasized that the facility's swift and budget-friendly completion is evidence of the company's capabilities and that the industry is ready for commercial electric aviation.

Stellantis' Head of Manufacturing and Supply Chain, Arnaud Deboeuf, also commented on the milestone, underscoring the importance of the partnership in advancing clean mobility.

Archer's Midnight aircraft is designed to provide a sustainable, low-noise, and safe alternative for ground transportation in congested urban environments. With the completion of the ARC facility, Archer Aviation positions itself at the forefront of electric aircraft manufacturing, aiming to significantly impact the future of urban transportation.