Boeing Trades Stake for Autonomous Tech in eVTOL Consolidation

Boeing is divesting its flying-taxi venture Wisk Aero to rival Archer Aviation in a deal that will give Boeing a nearly 20% stake in Archer.

The agreement, announced on Monday, also includes the transfer of two other Boeing subsidiaries: SkyGrid and Insitu. In exchange for these assets, Boeing will receive equity warrants, the right to nominate a director to Archer's board, and continued access to Wisk's autonomous-flight technology.

Archer Aviation is set to acquire Wisk Aero, which has been developing eVTOL (electric vertical takeoff and landing) aircraft since 2019. The company will also gain SkyGrid's air-traffic management systems and Insitu's high-altitude military drones.

The deal aims to accelerate Archer's development of autonomous-flight technology and expand its revenue base beyond its own aircraft development program.