Boeing Sells Flying-Taxi Venture To Rival Archer Aviation, Takes Near 20% Stake

Boeing Sells Flying-Taxi Venture To Rival Archer Aviation, Takes Near 20% Stake Archer Aviation shares surged in premarket trading after The Wall Street Journal reported that Boeing had agreed to take a nearly 20% stake in the eVTOL startup as part of a deal that transfers control of its autonomous flying-taxi venture, Wisk Aero, to Archer. Archer will acquire Wisk, air-traffic software provider SkyGrid, and drone manufacturer Insitu. The 737 maker will receive warrants, gain the right to nominate a director to Archer's board, and retain access to Wisk's autonomous-flight technology. The transaction is expected to close later this year. Brian Yutko, Boeing's vice president of Commercial Airplanes product development, told...

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