Boeing Bets on Archer (ACHR.US) with “Assets-for-Equity” Deal as the “Low-Altitude Economy” Moves from Cash-Burning Competition to Commercial Realization

According to Zhitong Finance APP, American aerospace manufacturing giant Boeing (BA.US) will sell several of its divisions dedicated to developing low-altitude flying taxi and drone technologies to the American "low-altitude flight economy" leader Archer Aviation Inc (ACHR.US), indicating that the U.S. aircraft manufacturer is focusing on its core commercial aircraft and military defense businesses. Following the announcement, Archer Aviation's share price surged more than 15% at the beginning of the U.S. stock market session.