Boeing Sells Advanced Subsidiaries, Takes Stake in Archer Aviation

Boeing has sold three of its advanced aviation subsidiaries to Archer Aviation while taking a 19.75% stake in the California-based electric air taxi developer. The deal includes autonomous aircraft developer Wisk Aero, urban air mobility software company SkyGrid, and drone manufacturer Insitu.

The acquisition significantly expands Archer's technology portfolio as the company races 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 technology.

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 completed more than 1,700 flight tests.

The deal allows Boeing to sharpen its focus on its core commercial aircraft business as it works through an order backlog worth about $715 billion, representing over 6,200 aircraft yet to be delivered.