Boeing on Monday announced it was investing an additional $450 million in California-based Wisk Aero, making Wisk “one of the most well-funded AAM [advanced air mobility] companies in the industry.”
The deal offers further evidence that Boeing supports Wisk’s business plan of moving directly to self-flying, automated air taxis instead of electric vertical takeoff and landing aircraft (eVTOL) with on-board pilots.
The niche market for electric aircraft that take off like helicopters, fly like planes and can carry a handful of passengers short distances has attracted billions of dollars in investment in recent years, in the hope that the technology could supplement and supplant urban transportation and help airlines to offset their greenhouse gas emissions.
A handful of air taxi startups, including Archer Aviation, Joby Aviation, Lilium and Vertical Aerospace, went public last year and have a combined valuation of about $6 billion today.
American Airlines, a major Boeing customer, invested in Vertical Aerospace and has said it plans to buy up to 250 of that company’s aircraft. United Airlines, another major Boeing customer, invested in Archer and plans to buy up to 200 aircraft from it. Wisk sued Archer last year, accusing it of stealing trade secrets and infringing on its patents.
Wisk is developing its sixth-generation aircraft. If that autonomous vehicle is certified for flight, the company plans a fleet allowing it to carry out millions of annual zero-emission flights in nearly two dozen cities, it said. The Federal Aviation Administration has yet to approve any electric air taxi, autonomous or not, for flight, and experts say it could still be years before such aircraft are ready for public use.
This story was originally published at nytimes.com. Read it here.
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