Stellantis Recently Completes Purchases of 8.3M Shares of Archer Aviation

Dow Jones03-18

By Denny Jacob

Jeep owner Stellantis disclosed it recently completed a series of open market purchases of 8.3 million shares of Archer Aviation.

The European car maker and the French car-leasing company in January 2023 said its goal was to mass produce Archer's Midnight aircraft as its exclusive contract manufacturer.

Stellantis has been a strategic partner to Archer since 2020 and an investor since 2021. It holds a roughly 15% stake in Archer, according to FactSet.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 18, 2024 11:14 ET (15:14 GMT)

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