Boeing exits air taxi sector, cedes Wisk, SkyGrid, and Insitu to Archer Aviation
Article excerpt
Boeing has agreed to divest three of its advanced aviation subsidiaries to Archer Aviation, while taking a 19.75% stake in the California-based developer of electric air taxis. According to a regulatory filing, Boeing will also receive options to purchase additional Class A shares over the next four years. The deal includes autonomous aircraft developer Wisk Aero, urban air mobility software company SkyGrid, and drone manufacturer Insitu. This acquisition significantly expands Archer's technology portfolio as the company works to launch commercial air taxi services. Boeing will retain access to Wisk's autonomous flight technology for its commercial and defense programs, while the two companies will also share their technologies. Wisk Aero was founded in 2019 as a joint venture between Boeing and Kitty Hawk, the flying taxi startup backed by Google co-founder Larry Page. The company has developed six generations of autonomous eVTOL (electric vertical takeoff and landing) aircraft and has completed over 1,700 flight tests. The deal also includes SkyGrid, which develops air traffic management systems for future urban air mobility networks, and Insitu, a Boeing subsidiary that manufactures long-endurance drones used by the U.S. military. This transaction allows Boeing to further refocus on its core business of commercial aviation, as it works to fulfill an order backlog worth...
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For Archer, this acquisition comes as the company prepares to launch pilot air taxi services in New York, Texas, and Florida before the end of the year.
