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Boeing to Sell 3 Autonomous Flight Subsidiaries
The New York Times • • business
Key Points:
- Boeing is selling three subsidiaries—Wisk Aero, SkyGrid, and Insitu—to Archer Aviation, receiving a nearly 16.5% stake in Archer along with other benefits, including board representation and options to buy additional shares.
- Wisk Aero develops electric, autonomous air taxis; SkyGrid focuses on automated air traffic management; and Insitu produces unmanned military aircraft, all of which will now be integrated into Archer's portfolio.
- Archer is advancing piloted electric vertical takeoff and landing (eVTOL) aircraft for commercial and defense applications, and the acquisition is expected to close by the end of 2024, pending regulatory approval.
- The deal follows the resolution of a legal dispute between Wisk and Archer in 2023, which included Boeing's investment in Archer and a technology-sharing agreement allowing Boeing continued access to Wisk's autonomous flight technology.
- Boeing aims to strengthen its position in advanced aviation markets through this transaction, while Archer gains diversified capabilities and resources to accelerate its growth in the electric aircraft sector.
