Summary:
- Archer Aviation, an electric vertical take-off and landing (eVTOL) aircraft company, has raised $300 million in additional funding to support its development and certification efforts.
- The funding round was led by Stellantis, the parent company of major automakers like Fiat, Chrysler, and Peugeot, and included participation from existing investors like United Airlines Ventures and Expa.
- The additional capital will help Archer accelerate its timeline for bringing its Maker eVTOL aircraft to market, with plans to begin commercial operations in 2024.