Boeing Trades Units for Stake in Electric Aircraft Startup Archer

Boeing is divesting three business units to Archer Aviation in exchange for an ownership stake. The aerospace giant's CEO, Kelly Ortberg, has been pushing to create a leaner organization focused on commercial airplanes, defense, and space.

The deal allows Boeing to focus on its core businesses while retaining a piece of the future with Archer. Archer will gain control of Wisk, SkyGrid, and Insitu, which will help accelerate development and time-to-market for electric air travel.

Archer's CEO, Adam Goldstein, sees this as 'the next big step forward' in becoming a diversified platform, rapidly growing revenue, and bringing scale to the business. The company is positioning itself as a one-stop shop for electric air travel, from aircraft development to airspace management.