Archer Aviation has taken a significant step in its mission to revolutionize urban travel by closing agreements with Synovus Bank and Evans General Contractors, LLC for the financing and development of a high-volume manufacturing facility in Covington, Georgia. Construction is already in progress for the initial phase of the Covington facility, encompassing approximately 350,000 square feet, with the capacity to support the production of up to 650 electric vertical take-off and landing (eVTOL) aircraft annually. This would establish the Covington facility as the largest eVTOL aircraft manufacturing facility in the world by volume.
Archer envisions achieving the highest eVTOL aircraft production volume while maintaining significantly lower manufacturing capital costs compared to projects announced by competitors in the industry. The latest announcement secures a minimum of $65 million in financing, covering a substantial majority of the construction costs for the first phase of Archer’s eVTOL manufacturing facility. Combined with incentives from the state of Georgia and Archer’s partnership with Stellantis, this move aligns with the company’s strategy of establishing a capital-efficient pathway to scaled manufacturing. Archer’s approach is further supported by its collaborations with top-tier aerospace suppliers, such as Honeywell and Safran, for the majority of components in its Midnight eVTOL aircraft, streamlining the manufacturing and assembly process to achieve high volumes of output.
The completion of phase one of Archer’s high-volume manufacturing facility is on track for 2024, ahead of the planned entry into service for the Midnight eVTOL in 2025. Phase two of the facility provides the capability to expand operations to approximately 900,000 square feet, supporting long-term production targets of over 2,000 eVTOL aircraft per year.
Archer’s overarching goal is to transform urban travel, replacing time-consuming 60- to 90-minute car commutes with estimated 10- to 20-minute electric aircraft flights. These flights are designed to be safe, sustainable, low-noise, and cost-competitive with ground transportation. The piloted, four-passenger Midnight aircraft is engineered for rapid back-to-back flights with minimal charge time in between, providing a transformative solution for urban mobility. These eVTOL aircraft will be manufactured at Archer’s high-volume facility in Covington, Georgia, before being deployed to diverse customers and markets in the United States and abroad. Archer’s innovative approach and rapid progress position the company as a key player in the burgeoning urban air mobility sector.