Archer Aviation

Archer Aviation selected a site in Covington, Georgia adjacent to the Covington Municipal Airport for its manufacturing facility. The company plans to initially build a 350,000 square-foot facility capable of producing up to 650 aircraft per year, with construction expected to be completed in the first half of 2024 and initial production in the second half of 2024. Archer intends to invest $118 million over 10 years and expects to create over 1,000 jobs long-term.

Archer Aviation has entered into an agreement with FACC to fabricate and supply key fuselage and wing elements for Archer's eVTOL aircraft under development.

Archer Aviation, a developer of eVTOL aircraft, entered into a business combination agreement with Atlas Crest Investment Corp to list on the NYSE. The deal is expected to provide $1.1 billion in gross proceeds, including a $600 million PIPE.