Boeing this week announced it is investing an additional $495 million USD into eVTOL company Wisk Aero. The news is an important signal of Boeing’s confidence in the future of aerial mobility, and provides Wisk with extra capital needed to complete its lengthy and costly flight test and certification campaign.
The California-based firm is a joint venture between aircraft developer Kitty Hawk and Boeing, and has seen several prototype iterations over the years. Its ‘Cora’ aircraft has now completed over 1,500 flight tests. Wisk hopes to initially pursue certification from the FAA before seeking type certificates in other jurisdictions.
“With this investment, we are reconfirming our belief in Wisk’s business and the importance of their work in pioneering all-electric, AI-driven, autonomous capability for the aerospace industry. Autonomy is the key to unlocking scale across all AAM applications, from passenger to cargo and beyond,” Boeing Chief Strategy Officer Marc Allen shared in a statement.
“That’s why straight-to-autonomy is a core first principle. Boeing and Wisk have been at the forefront of AAM innovation for more than a decade, and will continue to lead in the years ahead.”
Why it matters: With Boeing’s latest investment, Wisk is near the top of the industry with capital on hand as many manufacturers are turning the corner from concepts to actual flight test programs and certification. Although Wisk has been quiet to report on vehicle technical specifications or anticipated project timelines, it appears the company is well positioned to compete in the aerial mobility space against other industry leaders.