Stellantis, parent company of Jeep and Dodge, increases stake in eVTOL company Archer Aviation by purchasing 8.3 million shares.

Stellantis, the parent company of Jeep and Dodge, has increased its stake in electric vertical takeoff and landing (eVTOL) aircraft company Archer Aviation by purchasing approximately 8.3 million shares. This move follows a visit by Stellantis CEO Carlos Tavares to Archer's headquarters and manufacturing facilities in Santa Clara, California. Stellantis aims to mass-produce Archer's Midnight aircraft, which is designed for short-distance trips, optimized for safety, sustainability, quietness, and can carry four passengers plus a pilot.