The eVTOL Industry Continues to Consolidate and Seek Near-Term Revenue Streams

In recent news, the electric vertical takeoff and landing aircraft (eVTOL) industry has witnessed significant developments, showcasing its growing presence and influence. Two major deals have emerged, illustrating the sector’s drive to consolidate and explore near-term revenue streams while navigating the lengthy regulatory process to deploy electric air taxis.

Archer Aviation Acquires Wisk Aero

Archer Aviation has announced its acquisition of Wisk Aero, a move that marks a significant twist in the eVTOL industry. As part of the deal, Boeing has agreed to sell Wisk Aero and two other subsidiaries to Archer in exchange for an ownership stake in the company. Boeing now holds a 16.5% stake in Archer. This acquisition is particularly noteworthy, given the tumultuous history between Archer and Wisk Aero. The two companies had been involved in a high-profile lawsuit in 2021, with Wisk alleging that Archer had stolen confidential information and intellectual property. The case eventually led to a settlement that not only ended the lawsuit but also paved the way for a new collaboration between the two companies.

Joby Aviation Acquires Resonant Sciences

Joby Aviation has made a significant move in the eVTOL industry by acquiring Resonant Sciences for $500 million. This acquisition marks Joby’s push into the defense sector, with Resonant Sciences set to become a dedicated defense business under Joby’s umbrella, aptly named Joby Defense. Joby has been expanding its presence in the defense sector over the past couple of years, while continuing to pursue its original mission of certifying and manufacturing electric vertical takeoff and landing aircraft for urban air taxis. The acquisition of Resonant Sciences is expected to provide Joby with a significant boost in the defense sector, opening up new revenue streams for the company.

Uber Sells Stake in Serve Robotics

In a surprising move, Uber has sold its entire stake in Serve Robotics, an autonomous delivery robot company that spun out of Uber over five years ago. According to reports, Serve Robotics was caught off guard by the sell-off, only learning about it when Uber’s regulatory filing was posted. Despite the sale, Uber and Serve Robotics remain business partners, with their contract set to expire in 2027. The partnership between the two companies has been a significant one, with Serve’s delivery robots integrated into the Uber Eats app.

Other Notable Developments in the eVTOL Industry

Aurora Innovation and Kodiak AI have received permits from the California Department of Motor Vehicles to begin testing their self-driving trucks on public roads in the state. Kodiak AI has already started testing its vehicles. Avride has surpassed 100,000 autonomous rides on the Uber app in Dallas, with a human safety operator still behind the wheel. Delta Air Lines is investigating a cybersecurity incident in which an unidentified passenger allegedly created a fake Wi-Fi network on a flight, prompting pilots to alert air traffic control. Flock has announced a series of new policies and tools to help curb abuse of its automated license plate camera reader systems and keep its law enforcement customers accountable. Ford is on track to complete its $2 billion overhaul of its Louisville Assembly Plant in Kentucky, which will use a new assembly system to build its next-generation of EVs, starting with the midsize Fathom truck.