Boeing Gets Bigger Bite: Electric Aviation Giant Archer Adds Boeing Stake

Electric aircraft news dominated the week, with two major deals in the electric vertical takeoff and landing aircraft (eVTOL) sector. These developments highlight the consolidation of the industry as companies seek near-term revenue streams while navigating regulatory hurdles.

In a surprising turn of events, Archer Aviation acquired its former rival Wisk Aero under terms that also saw Boeing sell off two subsidiaries in exchange for an ownership stake in Archer. The deal marked a significant shift in the eVTOL industry, with Boeing now holding a 16.5% stake in the company.

The acquisition was made possible after Wisk and Archer reached an unusual settlement in a lawsuit that dated back to 2021. Initially, Wisk had sued Archer over allegations of intellectual property theft, but the two companies eventually collaborated on a new project.

Wisk's journey began as Kitty Hawk, an electric aviation startup that shut down in September 2022. However, its Cora program – which had been spun off into a joint venture with Boeing – continued to operate under the name Wisk Aero.

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In another significant move, Jo acquired Resonant Sciences for $500 million, marking the company's entry into the defense sector.

Resonant Sciences will now focus on developing radio frequency and sensor systems as a dedicated defense business under Jo. The acquisition underscores the growing presence of electric air taxi developers in the defense industry.

In contrast to its recent focus on autonomous vehicle technology, Uber has sold off its entire stake in Serve Robotics, the autonomous delivery robot company it had invested in since 2018.

Interestingly, despite selling off its stake, Uber remains a business partner with Serve Robotics. The contract that allows Serve's delivery robots to be used on the Uber Eats app is set to expire in 2027.