Summary

Archer Aviation (NYSE: ACHR) is a San Jose, California eVTOL developer founded in 2018, building the Midnight air taxi — a six-tilt-rotor aircraft targeting 60-mile urban range and 150 mph cruise speed. Archer holds a Part 135 air carrier certificate, has delivered test aircraft to the US Air Force under a $142M DoD AGILITY Prime contract, and is building a manufacturing facility in Covington, Georgia via a contract manufacturing agreement with Stellantis worth up to $400M. Full FAA type certification is in progress, with commercial launch targeted for Abu Dhabi in 2025–2026 and US operations to follow.

Key Facts

  • Founded: 2018 (incorporated October 16, 2018)
  • HQ: San Jose, CA (manufacturing: Covington, GA)
  • Type: Public (NYSE: ACHR)
  • Key backers: Stellantis (strategic investor and contract manufacturer; $400M+ total commitment); United Airlines; Boeing; ARK Invest
  • Key products: Midnight (six-tilt-rotor eVTOL air taxi)
  • Aircraft specs (claimed): 150 mph cruise speed; 60-mile range; 5 seats (pilot + 4 passengers); six tilt-rotors; fully electric
  • Revenue / valuation: Pre-commercial revenue; $1.4B+ in cash and committed capital (as of early 2025); DoD contract up to $142M
  • DoD contract: Up to $142M AGILITY Prime (USAF)

What It Is / How It Works

Midnight is Archer’s production-intent eVTOL aircraft, a six-motor tilt-rotor design that transitions from vertical hover to forward flight. The aircraft’s six propeller pods rotate from upward-facing (VTOL mode) to forward-facing (cruise mode), with the wing generating lift during cruise to reduce motor load. The design targets 60-mile urban air taxi trips — sufficient for airport-to-city and inter-city routes in most metropolitan markets.

Archer went public via SPAC merger in September 2021. The company navigated an early legal dispute with Joby Aviation (resolved in 2022 with a settlement) over alleged trade secret misappropriation by former Joby engineers who joined Archer.

Stellantis is Archer’s exclusive contract manufacturer for mass production. The partnership covers manufacturing labor and certain capital expenditures at the Covington, Georgia facility through 2030, with a target of 650 aircraft per year at full rate. Stellantis has invested cumulatively $400M+ including equity investments and manufacturing commitments. The Covington facility was nearing completion as of mid-2024.

On the regulatory front, Archer received its Part 135 air carrier certificate and has been conducting flight operations under that certificate. FAA type certification for Midnight uses the same novel certification basis as other eVTOL aircraft; some analysts project type certification occurring in 2028, later than Archer’s internal targets. Archer has pursued commercial launch in Abu Dhabi first, where regulatory timelines may be faster than the US.

United Airlines holds a significant order commitment for Midnight aircraft and has invested in the company, with a planned role as commercial operator. The partnership positions United to launch urban air taxi operations as part of its broader multimodal transportation strategy.

Notable Developments

  • 2025-07: Archer announces target for initial commercial operations in Abu Dhabi. (AInvest)
  • 2025: $850M additional funding round closes; cash and committed capital exceed $1.4B.
  • 2024-07: Stellantis invests additional $55M following Midnight transition flight test milestone. (Stellantis)
  • 2024: Delivers first Midnight test aircraft to US Air Force for AGILITY Prime evaluation at Edwards AFB.
  • 2024: Stellantis contract manufacturing relationship formalized — up to $400M, 650 aircraft/year capacity target, Covington GA facility. (Archer IR)
  • 2024: Receives FAA Part 135 Air Carrier Certificate. (Archer news)
  • 2023-06: Stellantis-Archer partnership moves from concept to execution phase. (Stellantis)
  • 2022: Trade secret lawsuit with Joby Aviation settled.
  • 2021-09: IPO on NYSE via SPAC merger.
  • 2018-10: Founded by Adam Goldstein and Brett Adcock.

Key People

Adam Goldstein — Co-Founder, CEO, and Chairman

  • LinkedIn: linkedin.com/in/adam-goldstein-7b662121
  • Education: University of Florida, Herbert Wertheim College of Engineering
  • Career (reverse-chronological):
    • Archer Aviation (2018–present): Co-founder, CEO, Chairman
  • Notes: Co-founded Archer with Brett Adcock in 2018. Adcock departed in 2021 to pursue other ventures (Figure AI, humanoid robots). Goldstein serves as sole CEO.

People — Last Reviewed: 2026-03-31

Supply Chain Position

Archer operates as a Platform OEM designing complete eVTOL aircraft with contract manufacturing by Stellantis at Covington, Georgia. Motor and power electronics sourcing is not publicly disclosed. Battery cell supplier undisclosed. ⚑ Rare earth dependency: Tilt-rotor motors require NdFeB permanent magnets; China controls ~85% of rare earth processing. ⚑ Shared context with Joby: Both Joby and Archer are pursuing eVTOL type certification on similar regulatory timelines and compete for the same US pilot talent pool and air taxi market.

Claim Verification

Claim: Midnight achieves 60-mile range and 150 mph cruise speed

Status: Partially verified

Supporting sources:

Refuting / questioning sources:

  • FAA type certificate not yet issued; final certified performance data not yet public
  • Motley Fool analysis (Nov 2025) — Some analysts project type certification not occurring until 2028, noting the gap between company commercial timeline aspirations and actual FAA process maturity

Summary: Transition flight has been demonstrated, confirming basic flight mode, but certified range and speed data under passenger load and FAA-standard test conditions have not been publicly released.

Sources