Archer Buys Wisk, Joby Adds Defense Unit as eVTOL Sector Consolidates
Archer buys Wisk as Boeing takes 16.5%, Joby pays $500 million for Resonant Sciences, and autonomous transport expands despite cyber and safety risks.
Summary
Archer Aviation acquired former rival Wisk Aero and Boeing subsidiaries SkyGrid and Insitu for shares giving Boeing 16.5%. Wisk’s 2021 IP theft suit and Archer’s $1 billion countersuit ended two years later in settlement and collaboration. Wisk evolved from Cora, spun out of Sebastian Thrun’s Larry Page backed Kitty Hawk before its September 2022 shutdown, into a Boeing venture. Joby Aviation bought radio frequency and sensor maker Resonant Sciences for $500 million, creating Joby Defense for revenue while pursuing urban eVTOL certification and manufacturing.
Uber sold its entire Serve Robotics stake without warning Serve, sources said; its Uber Eats robot contract expires in 2027, more than five years after Serve’s spinout. Uber invested in Chilean motorcycle lender Galgo. Yulu’s $93 million Series C comprised $63 million equity led by GEF Capital Partners and $30 million debt. Pony.ai and Uber plan 2,000 robotaxis in four European cities. Avride passed 100,000 Uber rides in Dallas with safety operators, versus 60,000 about two months earlier. California DMV cleared Aurora Innovation and Kodiak AI to test self-driving trucks; Kodiak started.
California expanded Waymo’s paid San Francisco Bay Area and Los Angeles territory and authorized unlaunched Sacramento and San Diego service; Zoox issued a safety case framework with no federal AV test. Ford’s $2 billion Louisville Assembly Plant overhaul is on track for next-generation EVs, starting with the midsize Fathom truck. Delta Air Lines is probing an alleged fake onboard Wi-Fi network; Uber Freight is investigating a Helix claimed cyberattack and breach. Flock said new license plate reader safeguards would curb abuse and improve police accountability. DOT Secretary Sean Duffy said gamer recruitment produced 2,000 air traffic controller hires, not necessarily all gamers. Toyota announced Prius champion and former president and chairman Hiroshi Okuda’s death. Ground Truth’s New York housing project brakes Citi bikes in rent-burdened areas.
Positives
- Boeing received 16.5% of Archer Aviation through the sale of Wisk Aero, SkyGrid and Insitu.
- Joby Aviation’s $500 million Resonant Sciences acquisition creates Joby Defense and a nearer-term revenue opportunity.
- Yulu raised $93 million, including $63 million in equity led by GEF Capital Partners and $30 million in debt.
- California cleared Aurora Innovation and Kodiak AI to test self-driving trucks, and Kodiak has begun operating.
- Ford’s $2 billion Louisville Assembly Plant overhaul remains on track to produce next-generation EVs, beginning with the Fathom truck.
- Waymo gained approval to expand paid rides around San Francisco and Los Angeles, with Sacramento and San Diego also authorized.
Risks & concerns
- eVTOL developers still face a lengthy certification process before deploying electric air taxis.
- Serve Robotics reportedly learned from a regulatory filing that Uber had sold its entire stake without advance notice.
- Avride’s 100,000 Dallas rides still required a human safety operator behind the wheel.
- Uber Freight is investigating a cyberattack and data breach claimed by hacking and extortion group Helix.
- Delta Air Lines is investigating an alleged fake Wi-Fi network created aboard a flight.
- Zoox published its safety framework while autonomous vehicles still lack a federally mandated test.