Wisk and Archer Settle Lawsuit, Forge Partnership for Electric Air Taxis

Air taxi startups Wisk and Archer have settled their legal dispute over allegations of stolen trade secrets, avoiding a jury trial. Wisk, a subsidiary of Boeing, sued Archer for allegedly stealing its trade secrets and infringing on its patents. As part of the settlement, Wisk will become the exclusive provider of autonomous flying technology to Archer if they pursue a self-flying aircraft. Boeing will invest in Archer's private investment in public equity (PIPE) financing, and Wisk will receive shares in Archer. Wisk hopes to launch an air taxi service within the next five years.