BUZZ-Archer Aviation rises after receiving occupancy certificate for Georgia manufacturing facility

Reuters12-19 23:02

** Shares of aerospace co Archer Aviation up 2.7% at $9.18 in morning trade

** ACHR says earlier this week, it received an occupancy certificate for a manufacturing facility in Georgia

** Archer and Stellantis are finalizing a deal for the mass production of Archer's Midnight eVTOL aircraft at this facility

** Co plans to begin production in early 2025, with the goal of ramping to a rate of two aircraft per month by the end of the year

** ACHR aims to scale the facility's production to 650 aircraft annually by 2030

** Including session's gain, shares up ~49% YTD

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))

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