Boeing sells three eVTOL subsidiaries to Archer Aviation, takes equity stake

Boeing is divesting three of its electric aviation subsidiaries to Archer Aviation, a San Jose-based air taxi company, while also acquiring an undisclosed ownership stake in the firm. The subsidiaries being transferred are Wisk Aero, an autonomous electric aircraft developer; SkyGrid, which builds air traffic management systems for urban air mobility; and Insitu, a maker of high-altitude drones used by the US Navy. Under the terms of the agreement, both companies will engage in technology sharing. Boeing will also retain access to Wisk's autonomous flight technology for use in its existing and future commercial and defense programs.