Boeing assumes full ownership of eVTOL air taxi developer Wisk

Aviation giant Boeing has taken full ownership of electric takeoff and landing (eVTOL) aircraft developer Wisk – a step that closes out the role of cofounding backer Kitty Hawk in the startup’s activity.

Initially reported by FlightGlobal and tweets by eVTOL sector observers, the move transforms Boeing’s long-time position of financial and technical support of Wisk into that of a single shareholder. Kitty Hawk’s sale of its stake to Boeing for an undisclosed amount is a logical development, given the former’s decision last year to cease its work in moon-shot innovative aviation tech, and gradually wind the entire operation down. Since then, the company has largely existed only as a Wisk investor.

Despite what was likely a considerable chunk of change ponied up to buy Kitty Hawk’s position, it doesn’t appear Boeing making Wisk its fully owned subsidiary will radically change anything for the California company. As Wisk CEO Brian Yutko noted, Wisk has been working “hand-in-hand” with the giant aircraft manufacturer in developing its eVTOL project for nearly half a decade, as well as preparing the craft’s eventual launch as a pilotless air taxi for up to four passengers.

Its new status as a 100% subsidiary of Boeing also does not increase the probability of looming massive capital influxes into Wisk – or, more accurately, any new large financial injections in the foreseeable future.

Just last January, Boeing pumped a whopping $450 million into Wisk to fuel the startup’s continued development of its sixth generation eVTOL, which it plans to use in the Federal Aviation Administration certification process for air taxi operation. 

Read more: Wisk gets $450 million for eVTOL air taxi certification push

Aviation technology research and application exchanges between the two companies have also increased over the months, with Boeing both offering its legacy aircraft manufacturing and production experience, and receiving insights from Wisk on future battery-powered aviation innovations.

The intermingling activities and cultures of the two firms was deepened further last February, with Boeing veteran Yutko taking over the helm of Wisk after founding CEO Gary Gysin decided to retire.

Read: Wisk and Boeing unveil UAM operational roadmap for future air taxis

Yutko was quoted by FlightGlobal saying Boeing’s move to become sole owner of Wisk would “combine the best small-company innovative thinking with one of the biggest and deepest aerospace companies in the world.” One important area Boeing’s long experience will prove particularly valuable, Yutko noted, was in preparing and aiding the eVTOL developer through the FAA certification process, and on into full production and its launch as air taxi craft.

In contrast to sector competitors like Joby, Archer, and Volocopter – which are aiming to begin commercial operation of their eVTOL planes in 2025 – Yutko said Wisk was not in a race to commence concurrent air taxi services with its rivals, but was instead aiming to complete the certification process sometime “this decade.”