Archer announces proposed Midnight contract-manufacturing terms with Stellantis

Evidence notes

• The proposed terms contemplated Stellantis funding up to about $370 million of manufacturing labour costs for a ramp to 650 Midnight aircraft annually.
• Stellantis would also contribute up to $20 million of identified initial capital expenditure at Archer's Georgia manufacturing facility.
• The arrangement was an agreement in principle, remained subject to definitive agreements and included proposed performance warrants tied to manufacturing milestones.