Archer Aviation announced today that on Tuesday, July 16, 2024 it received approval from California’s Alternative Energy And Advanced Transportation Financing Authority (CAEATFA) for its USD117 million project covering the planned expansion of its advanced manufacturing facilities in the State of California, including the ramp of its advanced electric powertrain facility as it readies for commercialization. The CAEATFA sales and use tax exclusion is expected to result in USD10 million in benefit to Archer over the next few years.
“In May of this year, Archer announced the completion of installation of its high-volume battery pack manufacturing line at its facility in San Jose, California,” said Archer in a press release. “Archer’s facility is designed for high-volume production from day one with the capability of producing up to 15,000 of Archer’s proprietary battery packs per year at full capacity. This facility will produce the battery packs needed to support the ramp up of Archer’s electric aircraft production planned for 2025 and beyond.
“Archer was selected after a highly competitive application process that looked closely at the project’s impact on the environment, its ability to create jobs and stimulate economic activity, and its categorization as a strategic emerging industry. This award, which is believed to be CAEATFA’s largest to date in the advanced air mobility industry, will support Archer’s planned expansion of its state-of-the-art electric powertrain and aircraft production facilities intended to support its commercialization.”
For more information
https://www.archer.com/