CNBC·3 min read·medium
Archer shares surge after Boeing stake, aircraft subsidiary deal
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Phil LeBeau, Meghan Reeder
✦AI Summary
Boeing is selling three subsidiaries—Wisk Aero, SkyGrid, and Insitu—to Archer Aviation in exchange for a 19.75% stake in the company. This move allows Boeing to focus on core operations while Archer expands its portfolio in the electric vertical take-off and landing (eVTOL) market.
In a move to increase its focus on core operations, Boeing is selling three of its subsidiaries to Archer Aviation in exchange for a stake in the startup that focuses on electric vertical take-off and landing aircraft, known as eVTOLs for short.
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