Boeing will sell its flying-car business and part of its unmanned-aircraft development operations to startup Archer Aviation. As part of the sale, Archer will acquire 3 Boeing subsidiaries and enter into a strategic partnership with Boeing.
Boeing announced on the 10th that it will sell its flying-car business and development of unmanned aircraft for information gathering to Archer. As part of the sale, it will acquire shares in Archer and enter into a strategic partnership.
Archer, which operates a flying-car business, plans to acquire 3 Boeing subsidiaries. Businesses with annual revenue of more than $200 million and operations in multiple countries will be added to Archer. The company said this is expected to enhance its development capabilities and accelerate the launch of its products.
The sale is intended to strengthen Archer's business and align it with Boeing's next-generation mobility strategy. The text does not mention specific contractual terms or the transaction value.
The report is based on coverage by Kyodo News, and the text does not state whether any additional official announcements or follow-up reports have been issued at this time.)