None
EN
All Aboard: Boeing Sells Three Subsidiaries to Air Taxi Rival Archer for a Stake
['Sean Craig']
The Daily Upside
Shares in the air taxi developer entered Monday down more than 25% this year.
Then, the company announced that Boeing agreed to divest three units, including one specializing in military drones, in exchange for an almost 20% stake.
The Federal Aviation Administration hasn’t yet certified any eVTOLs for commercial flights, and Archer rival Joby Aviation is further along in the approval process.
Joby also has revenue, having reported $38.6 million in the second quarter, up from $24.2 million in the first quarter.
The other two units are Wisk Aero, another air taxi developer, and SkyGrid, an air-traffic software developer.