Boeing Sells eVTOL Subsidiaries to Archer Aviation

Boeing is selling three of its electric vertical takeoff and landing (eVTOL) subsidiaries to Archer Aviation. The subsidiaries being acquired include Wisk Aero, which has been developing an autonomous electric aircraft; SkyGrid, building air traffic management systems for urban air taxis; and Insitu, making high-altitude drones used by the US Navy.

The deal involves Boeing taking an undisclosed stake in Archer Aviation, as well as sharing technology with the company. This move likely allows Boeing to focus on its finances and core commercial airplanes, given its $715 billion backlog of uncompleted planes and ongoing regulatory scrutiny.

Archer Aviation plans to launch pilot air taxi services in several markets before the end of the year, including New York, Texas, and Florida. The company is also positioning itself as a military supplier, having unveiled a new eVTOL aircraft co-developed with Palmer Luckey's defense tech firm Anduril.