Stellantis completes purchase of 8.3 million Archer shares

Automotive manufacturing company Stellantis has completed an open market purchase of 8.3 million shares of Archer Aviation’s stock. “This recent move by Stellantis signals our confidence in Archer’s team and the progress we see firsthand through our deep partnership,” said Stellantis CEO Carlos Tavares. “Archer and Stellantis are working side by side to realise a once-in-a-generation opportunity to redefine urban transportation and deliver tremendous value to the world’s cities and our shareholders,” said Archer founder and CEO Adam Goldstein. Stellantis and Archer have been strategic partners since 2020.