The flying car or vertical aviation market is one of the most anticipated growth sectors in the transportation industry. Analysts and market enthusiasts predict flying cars could very well revolutionize urban mobility and create a multi-billion-dollar market. With enough investment and consumer interest, this nascent market could become a force to be reckoned with, similar to how the electric vehicle (EV) market has grown in the past decade. This led us to create this list of the top flying car stocks on the market.
Below are three flying car stocks that could make your February unforgettable.
Top Flying Car Stocks: EHang (EH)
China-based EHang (NASDAQ:EH) designs and manufactures autonomous aerial vehicles (AAVs) for applications such as tourism, logistics, and emergency response. Unlike many AAV manufacturers, EHang has actually delivered a number of products and generated sales. Towards the end of last year, EHang received airworthiness certification from China’s aviation safety authority, making it the first company in the world to receive such a certification. The safety certification came after a number of compliance and safety assessments. Moreover, EHang’s third quarter results saw the AAV manufacturer delivered 13 AAVs, a notable increase over the 4 AAVs delivered during the same period in 2022.
Despite the economic overhang from the pandemic as well as an ongoing property debt crisis, EHang has still been able to grow its business and gain traction in a number of major Chinese cities. The stock nearly doubled in 2023, and although share price performance has certainly underperformed the market, shares could rebound as analysts revaluate EHang’s growth prospects.
Vertical Aerospace (EVTL)
Founded in 2016, Vertical Aerospace (NYSE:EVTL) is an aerospace and technology start-up that designs and manufactures eVTOL aircraft in the United Kingdom. The company has been focusing its investments not only on developing its technology, but also in receiving certification from the relevant authorities in the U.K. to be able to operate its vehicles.
Vertical continues progress with its necessary certifications, already having received a critical one that the company will require to develop and certify its VX4 air taxi. The eVTOL start-up expects to receive target type certification sometime in late 2026. In late January, the company’s founders committed $50 million of equity capital, which should help Vertical to meet its objectives.
Trading just under $1, Vertical Aerospace could make a decent bet in February as the company continues to progress through its product roadmap.
Joby Aviation (JOBY)
Joby Aviation (NYSE:JOBY) is a California-based company aiming to create a scalable eVTOL aircraft that can carry passengers and cargo over short distances.
The company has made significant strides in preparing cities across the United States for flying taxi infrastructure. In mid-January, Joby announced a partnership with eVTOL company Atlantic to electrify current aviation infrastructure in southern California and New York. This would eventually pave the way for Joby to kickstart the release of its long-awaited air taxi service.
Furthermore, Joby signed a contract Dubai’s Road and Transport Authority that would give the start-up exclusive rights to launch and run an air taxi service in the UAE’s flagship city for six years. The air taxi service should launch by 2026. While Joby is definitely still pre-revenue, these various partnerships give us a glimpse into the company’s long-term potential as a major player in the nascent space. Joby’s share price is down slightly more than 5% in 2024, and the company’s stock appears to be on an upswing. Investing now could make investors’ February unforgettable.
On the date of publication, Tyrik Torres did not have (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.
