Whitney Tilson, the former hedge fund manager turned editor and analyst at Stansberry Research, summed it up best when he referred to flying car stocks as “moonshots.” While it certainly takes an act of faith for investors to bet on airborne vehicles and flying taxis, the concept is not as far-fetched as it once seemed. In fact, governments are increasingly looking towards flying electric vehicles as a means of helping to lessen traffic congestion at the street level and cut down on the pollutants that cause climate change. While the companies behind the technology are start-ups and development is still in the early stages, there is an opportunity for investors to get in on the ground floor of what could eventually be a sizable industry. The market for flying electric vehicles could grow by about 14.5% a year and reach $3 billion by 2030. Here are three flying car stocks to buy for the next bull run this month.

Joby Aviation (JOBY)

Joby Aviation (NYSE:JOBY) is a start-up company developing aircraft it plans to use as part of an air taxi service in the U.S. The company’s aircraft in development are fully electric and known as electric vertical takeoff and landing (eVTOLs). Founded in 2009 and based in Silicon Valley, Joby Aviation struck a partnership with Uber Technologies (NYSE:UBER) that enables people to schedule an air taxi through the Uber app just as they would a car ride.

While it’s still in its early days, Joby Aviation is quite advanced in its air taxi development, and it seems to be putting things in place to develop the new service. Of course, being an unprofitable start-up, Joby’s share price is volatile and is on the cusp of trading as a penny stock. The shares have declined nearly 50% since the company held its initial public offering (IPO) in November 2020. That said, JOBY stock has gained 19% in the last 12 months after bottoming in April 2023, providing some hope to investors.

Archer Aviation (ACHR)

Archer Aviation (NYSE:ACHR) is another eVTOL aircraft company that plans to transport people across the skies in an air taxi. The chief rival of Joby partnered with the automaker Stellantis (NYSE:STLA) and United Airlines (NASDAQ:UAL), both of whom are interested in the company’s technology and its future application. Archer has also received approval from the Federal Aviation Administration to conduct autonomous test flights, with piloted tests planned for this spring.

Electric, quiet and with a flying range of about 100 miles, Archer sees its air taxis shuttling people between Miami and West Palm Beach and between New York City and the Hamptons. There is also interest from the U.S. Department of Defense and NASA in the eVTOL technology being developed by Archer. Los Angeles hopes to have eVTOLs operational in time for the 2028 Summer Olympics. ACHR stock is down 53% from its 2020 IPO, though its share price has risen 61% in the last 12 months.

Eve Holding (EVEX)

Eve Holding (NYSE:EVEX) is a Brazilian subsidiary of Embraer SA (NYSE:ERJ), a multinational aerospace company. It, too, produces eVTOL aircraft, as well as urban air infrastructure. However, unlike Joby and Archer, Eve Holding isn’t focused solely on creating an air taxi system. Rather, the company wants to develop flying electric vehicles for use by consumers. Although Eve has only been in existence since 2020, it is moving aggressively and says it plans to be mass-producing eVTOLs by 2026.

Impressively, Eve Holding has 3,000 orders for its eVTOL aircraft. The company has also developed a relationship with United Airlines, which plans to trial its flying vehicles in and around San Francisco. The links to both Embraer and United give Eve Holding some much-needed credibility. However, it remains a company in start-up mode. That explains why EVEX stock is down 39% since its IPO. However, for investors with a long time horizon, this flying car stock could be a good bet.

On the date of publication, Joel Baglole did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.