On August 10, 2023, Archer Aviation (ACHR) and Boeing (BA) announced a strategic partnership in which Archer will acquire Wisk Aero, Insitu, and SkyGrid from Boeing in exchange for a 19.75% equity stake in Archer. This deal is expected to generate $200 million in annual revenue for Archer and enhance its position in the electric vertical takeoff and landing (eVTOL) market.
Archer Aviation’s lead platform, Midnight, is designed for air-taxi operations and aims to reduce traffic congestion in urban areas. Currently, it is the first eVTOL developer to pass phase 3 of the FAA’s certification process, with plans to begin early commercial operations later this year. They also secured a deal with United Airlines (UAL) for up to $1 billion in aircraft orders and will serve as the official air taxi provider for the 2028 Olympic Games in Los Angeles.
The strategic partnership positions Archer Aviation to enter the defense industry, leveraging collaborations with companies such as Anduril, Palantir, NVIDIA, and SpaceX’s Starlink to advance its technology offerings.
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