RTTNews | Jan 12, 2021 08:22AM EST

08:22 Tuesday, January 12, 2021 (RTTNews.com) - Archer and Fiat Chrysler Automobiles NV (FCA) said Tuesday that they have entered into a definitive agreement that will enable Archer to benefit from access to FCA's low-cost supply chain, advanced composite material capabilities, and engineering and design experience.

According to the companies, California-based Archer is creating the world's first all-electric airline that will transport people in a quick, safe, sustainable and cost-effective manner.

Archer will manufacture high-volume, composite, electric vertical takeoff and landing or eVTOL aircraft, with the intent of starting volume manufacturing in 2023. FCA has collaborated on cockpit design elements of Archer's first aircraft, which is expected to be unveiled in early 2021.

The 100 percent electric aircraft will be capable of traveling distances of up to 60 miles at 150 mph.

The companies expect the new partnership will help accelerate Archer to capitalize on the new era of sustainable air mobility, a market that is estimated by Morgan Stanley to be worth $1.5 trillion by 2040.

The two companies will collaborate to significantly decrease the cost of production and enable Archer to bring affordably priced service to customers via eVTOL aircraft.

Read the original article on RTTNews ( https://www.rttnews.com/3159800/fca-to-collaborate-on-cockpit-design-elements-of-archer-s-first-evtol-aircraft-quick-facts.aspx)

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