Archer Aviation (NYSE: ACHR), a leader in eVTOL aircraft development, has announced progress on its high-volume manufacturing facility in Covington, GA, reaffirming an expected 2024 completion date.

The 400,000-square-foot facility will enable the production of up to 650 Midnight aircraft annually, making it one of the aviation industry's largest by volume.

Earlier this year, Archer completed the first build phase, which included grading and foundation work, and is now nearing completion of phase two, which entails erecting the exterior walls and roof. Phases three, consisting of interior fit-out, and phase four, consisting of equipment load-in and power-on, are scheduled to be completed in the coming months.

Adam Goldstein, CEO and founder of Archer stated: “Once complete, we’ll focus on ramping production up to 650 aircraft a year, our goal is to be the first in the eVTOL industry to achieve scaled manufacturing.”

Archer is leading the aviation electrification charge, designing and developing the key enabling technologies and aircraft that are necessary to power the next great transportation revolution.

Shares of Archer Aviation trade on the NYSE under the ticker symbol ACHR.