Today Archer Aviation Inc. (NYSE: ACHR) provided an update on the construction progress of its high-volume manufacturing facility in Covington, GA, reaffirming an expected 2024 completion date.
In preparation for this facility’s completion, last week Archer showcased its Midnight aircraft at Atlantic Aviation’s new terminal at DeKalb–Peachtree Municipal Airport. Guests included government officials from Georgia’s Office of the Governor, Georgia’s Congressional Offices, the City of Atlanta, Georgia’s State Legislature, the Federal Aviation Administration and other local governments.
Archer completed the first build phase earlier this year—inclusive of grading and foundation work and is nearing completion of phase two—the erection of the exterior walls and roof. Phase three—interior fit out, and phase four—equipment load in and power on, are on track to be completed in the coming months.
Once complete, this facility will be nearly 400,000 square feet and will support Archer’s planned production of up to 650 Midnight aircraft annually, which would make it one of the largest manufacturing facilities by volume in the aviation industry. Archer’s buildout is taking place in close partnership with Stellantis, with the companies continuing to progress their plans to mass-produce Archer’s Midnight aircraft together.
Adam Goldstein, CEO and founder of Archer, said, “Thanks to the hard work of the Archer and Stellantis teams, we’re tracking towards completing this manufacturing facility by the end of the year. Once complete, we’ll focus on ramping production up to 650 aircraft a year—our goal is to be the first in the eVTOL industry to achieve scaled manufacturing.”
Midnight, Archer’s electric vertical take-off and landing aircraft, represents the potential for a significant step change for aviation. Built around Archer’s proprietary electric powertrain, Midnight is designed to offer passengers a sustainable, low-noise and safe alternative to ground transportation:
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Travels at speeds up to 150 mph, turning hour-long ground commutes into minutes in the air
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Designed for back-to-back flights of 20-50 miles with minimal charge time in between
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100x quieter than a helicopter at cruising altitudes—nearly inaudible from the streets below
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Redundant systems across the aircraft allowing Archer to target similar levels of safety as commercial airliners
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Designed to carry a pilot, up to four passengers and carry-on luggage