Stellantis, the auto maker that owns Jeep, Ram and other well-known car brands, has struck a deal with Archer Aviation to help it build an electric flying taxi at a factory in Georgia
Electric-flying-taxi companies have been developing and testing vehicles but need to secure approval from regulators before they or customers that purchase the aircraft launch commercial service. In the U.S., the Federal Aviation Administration has been examining aircraft, working on pilot requirements and looking into how to integrate planned vehicles into the airspace.
Archer’s stock has struggled since going public in September 2021, with shares down roughly 80% through Tuesday’s close. Following the announcement of the manufacturing plans Wednesday, Archer’s shares closed up 9.3%.
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