Boeing Sells eVTOL Subsidiaries to Archer Aviation

Boeing is selling three eVTOL subsidiaries to Archer Aviation in a move that could strengthen Archer's position in the race to launch commercial electric air taxi services. The deal includes Wisk Aero, which is developing an autonomous electric aircraft, and SkyGrid, a developer of air traffic control systems for urban air taxis.

Insitu, which manufactures high-altitude drones used by the U.S. Navy, is also part of the agreement. As part of the deal, Boeing will acquire an undisclosed stake in Archer Aviation and exchange technologies with the company.

According to The Verge, this deal could be mutually beneficial for both companies. Brian Utko, Boeing's vice president of commercial aircraft product development, called it 'mutually beneficial'.