Archer in November 2022 formally unveiled its design for Midnight, its four-passenger eVTOL aircraft designed for urban air mobility missions. The fast-moving startup, launched in 2019, went public in 2021 and has maintained a well funded and extremely ambitious schedule to reach commercialization in 2025 following FAA approvals. The company recently completed Midnight-0, its first flying production test aircraft.
Archer and Wisk legal battle ends with surprise collaboration
Archer Aviation and Boeing subsidiary Wisk have reached a formal settlement of their long-running legal battle, ending an ugly and expensive early chapter in the nascent history of the electric vertical take-off and landing industry. The agreement, which includes Boeing, resolves the federal and state court litigation between the parties, and brings Boeing into the fold of Archer’s investors, while laying the groundwork for future application of Wisk’s autonomy technology.
Archer announced the resolution on August 10 in advance of its second quarter 2023 earnings call. At the same time, the California-based eVTOL developer announced a $215 million funding round with participation from Boeing as well as existing investors including Stellantis, United Airlines and ARK Invest. It’s a striking turnaround in a case that only weeks ago looked to be headed for an acrimonious trial.
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