New Delhi:- Electric aircraft companies Wisk and Archer Aviation have resolved their legal disagreement about confidential information, which had been ongoing for over two years since the lawsuit was first initiated.

In a somewhat unexpected turn of events, despite their earlier disagreements in court, the two companies have decided to work together. Archer has agreed to let Wisk be the only company that provides autonomy technology for their future self-flying Midnight aircraft. They will also be working together on this project.

Archer announced on Thursday that it received $215 million in new funding from Stellantis, Boeing, United Airlines, Ark Investment Management LLC, and other investors. This money will help Archer speed up its plans to introduce its products to the market. Boeing will use some of the new investment to help Wisk and Archer work together on autonomy, according to an insider.

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The precise amount of money that Boeing invested was not told. Boeing has given a lot of money to Wisk, including a donation of $450 million in January 2022. Wisk is now completely owned by Boeing this year.

As part of the agreement, Archer also agreed to allow Wisk to buy a maximum of 13,176,636 shares of common stock at a cost of $0. 01 per share The new agreement solves all the problems from before, including Archer's lawsuit against Wisk for $1 billion.

"We are happy to have agreed on a settlement with Archer that resolves our concerns and avoids the expense and distraction of a trial," said a representative from Wisk. "Wisk is dedicated to working together with others in the industry and being a leader in autonomous passenger flight. "

This ends the long courtroom fight between two companies that make electric planes. The fight lasted more than two years. In April 2021, Wisk said Archer stole their secret information and ideas. Wisk claimed that a previous worker who was employed by Archer later stole more than fifty trade secrets.

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The two companies tried many times to solve their issue with the help of a mediator, but they couldn't reach an agreement. The legal case was supposed to go to court on September 12, but an agreement was reached just before it was scheduled to start.

As the legal fight continued, Archer kept working towards making their first electric aircraft, called Midnight, available for sale. On Thursday, the company announced that it can now start testing Midnight for flights because regulators have given it the necessary certification. government – allows for the operation of a specific aircraft in the United States. The Federal Aviation Administration is an important organization that needs to approve Midnight before it can begin providing services for the general public.

Archer has achieved several important victories this year, which show that it is a top leader in electric aviation. For example, in June, the company announced that Billy Nolen, a former FAA administrator, joined as the chief safety officer. Additionally, last month, the U. S The Air Force said yes to buying up to six electric planes from Archer. They will pay up to $142 million for the planes.

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Wisk, a company owned by Boeing, and Archer have agreed to work together on a project for making electric airplanes and will proceed with their collaboration.