3 Promising Flying Car Stocks to Elevate Your Portfolio in 2024


  • These three flying car stocks represent a visionary investment as the sector nears a transformative phase in transportation.
  • EHang (EH): EHang’s innovative partnerships and the development of ultra-fast charging technologies demonstrate its dominance in the eVTOL market.
  • Joby Aviation (JOBY): Joby strengthens its market position with an FAA airworthiness certification and advances on the path of pilotless electric air taxis.
  • Archer Aviation (ACHR): Archer’s approach to expanding electric aviation and forging global partnerships strengthens its market standing.
flying car stocks - 3 Promising Flying Car Stocks to Elevate Your Portfolio in 2024

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While investing in flying car stocks may appear to be a bold move, they are on the verge of transforming the future of transportation.

China is spearheading the flying car revolution, with a major market share in the electric vehicle take-off and landing (eVTOL) sector. With Chinese businesses dominating a considerable portion of global eVTOL models, they are ready to boost EV technology by 2024, establishing a rapid trend that the United States aims to match by next year.

Even though the sector is still in its early phases, progress is unmistakable. Companies are developing prototypes emphasizing scalability, safety, and public acceptance. Meanwhile, Fortune Business Insights predicts the market will grow 58.1% annually between 2022 and 2040. Eventually they are expected to reach $1.5 trillion by 2040. This projected bump presents a lucrative chance for investors with a strategic outlook.

With that in mind, let’s look at three excellent flying car stocks you should consider right now.

Flying Car Stocks: EHang (EH)

Flying taxi or Car-drone-EHang 216 exhibited by Prestige Image Motor Cars at the 2023 Indonesia International Motor Show (IIMS) at JIExpo Kemayoran. EH stock
Source: Toto Santiko Budi / Shutterstock.com

EHang (NASDAQ:EH) is setting new standards for the aviation industry with its sophisticated flying car technology. Despite a slight dip in its stock value this year, the impressive 40% year-over-year (YOY) surge speaks volumes about its potential.

EHang is soaring in China, launching the first commercial flight operations in Guangzhou and Hefei. The Hefei government is eyeing the purchase of up to 100 units to energize its aerial services and boost the local economy. Additionally, EHang has forged a partnership with Greater Bay Technology to innovate ultra-fast charging batteries for eVTOLs, ensuring smoother and more efficient operations.

Alongside flourishing in its native market, the Chinese company recently celebrated a landmark achievement with autonomous demo flights in Abu Dhabi. This showcases its global potential and innovative spirit.

Furthermore, EHang shines financially, with its revenue skyrocketing 173.12% annually to $8.53 million and slashing estimates by $1.94 million. The company further secured positive operating cash flow for two consecutive quarters. These stellar milestones position EHang as a no-brainer investment for lucrative returns.

Joby Aviation (JOBY)

Smartphone with logo of American eVTOL company Joby Aviation on screen in front of business website. Focus on center-left of phone display. Unmodified photo.
Source: T. Schneider / Shutterstock.com

Joby Aviation (NYSE:JOBY) is a linchpin in the flying car sector. Although the stock is currently trading at lows, this offers a nice entry point for investors to consider buying shares on the dip.

The Federal Aviation Administration (FAA) has recently released its official airworthiness standards for Joby, marking it the first electric air taxi company to achieve this milestone. Joby has also partnered with three Abu Dhabi government departments to set up electric air taxis in Abu Dhabi and beyond.

Moreover, Joby recently acquired Xwing, an autonomous flight development company. This move aims to transition to pilotless flights, adding an extra passenger seat per trip while cutting pilot costs. Xwing’s expertise is evident as it has completed fully autonomous flights and, in April 2023, received FAA certification for a large automated aerial system.

Financially, Joby ended the first quarter with $924 million in cash and maintains a full-year cash spending outlook of $440 million to $470 million. This solid position will support its ambitious growth and innovation plans.   

Archer Aviation (ACHR)

Person holding cellphone with logo of American eVTOL aircraft company Archer Aviation Inc. (ACHR) on screen in front of webpage. Focus on phone display. Unmodified photo.
Source: T. Schneider / Shutterstock.com

Archer Aviation (NYSE:ACHR) is transforming urban air mobility through its innovative eVTOL aircraft. Although the company has yet to generate revenue or profits, it is rapidly gaining ground in the sector.

Archer reached a milestone by installing a high-volume battery pack manufacturing line. This step signifies Archer’s progression in mass-producing electric systems, unlocking the electrification of aviation.

Moreover, Archer is broadening its global reach. The company struck a multi-hundred-million-dollar deal with the Abu Dhabi Investment Office to speed up air taxi services in the UAE. This smart move boosts Archer’s presence in the Middle East and underscores the booming global interest in eVTOL technology.

Recently, the FAA has awarded the stock a new Part 135 Air Carrier & Operator Certificate. This would help the company kick-off commercial flights and refine its systems for the air taxi launch.

Looking ahead, Archer is gearing up to start operations next year after it gets the FAA Type Certification. I believe that this is a compelling investment opportunity, as the company is diligently securing all necessary certifications for its business foundation.

On the date of publication, Nabeel Bukhari 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.

Nabeel Bukhari is a seasoned research analyst and keen investor. His expert insights help readers to skillfully tackle the complexities of the financial sector, with a particular focus on electric vehicles (EVs) and technology stocks. Nabeel holds a Bachelor of Laws degree from Bahria University.

Article printed from InvestorPlace Media, https://investorplace.com/2024/06/3-promising-flying-car-stocks-to-elevate-your-portfolio-in-2024/.

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