Stocks
Boeing Ditches Subsidiaries for Stake in Electric Air Taxi Startup Archer
Boeing is selling three of its subsidiaries to Archer Aviation in exchange for a stake in the startup.
The subsidiaries being sold include Wisk Aero, which has been developing an autonomous eVTOL, and SkyGrid, which is working on air traffic management systems for air taxis.
Insitu, another Boeing subsidiary, develops high-altitude drones that have been used by the U.S. Navy.
The deal allows Archer to accelerate its development of eVTOLs and supporting networks.
Archer CEO Adam Goldstein said the acquisition is a 'next big step forward' in becoming a diversified platform.