Flying car stocks to buy are set to take flight.
According to JPMorgan, if flying cars are successful, the market could be worth $1 trillion by 2040. In the best case, by 2040, it could be worth $3 trillion as flying cars get into cargo and military operations. All as dozens of companies — from China to the U.S. and Europe try to get flying cars off the ground.
One of the top companies to watch is Joby Aviation (NYSE:JOBY), which moved to the next phase of test flights after completing its pre-production flight test program. As the company heads into the production prototype aircraft phase, it can earn tax credits and move closer to flying commercial air taxi services.
The company secured approval to launch air taxi services in the United Arab Emirates with an exclusive six-year contract in Dubai. And it just delivered two aircraft to MacDill Air Force Base in 2025 under the Agility Prime contract.
While JOBY is certainly one of the top flying car stocks to buy, here are three more to consider.
eHang Holdings (EH)
eHang Holdings (NASDAQ:EH) took flight after finding strong support at $10 a share. Now consolidating just below $18, I’d like to see it initially retest at $22.
Helping, Morgan Stanley just initiated an overweight rating on shares of EH, with a price target of $27.50. “We view eHang as a pioneer in the urban air mobility (UAM) market — with the world’s first [type certificate] awarded, validated products, and access to a multi-trillion [renminbi total addressable market] in China,” added the firm.
Even better, the issuance of the certificate from the Civil Aviation Administration of China is a massive catalyst for the company. EH can begin mass production of its EH216-S pilotless eVTOL [electric vertical takeoff and landing] aircraft.
“Securing this certificate indicates that EHang has established a mass production quality management system that meets the CAAC’s airworthiness regulatory requirements, and the Company has been authorized for continued mass production,” according to EH’s press release.
Archer Aviation (ACHR)
Another one of the top flying car stocks to buy is Archer Aviation (NYSE:ACHR). While its chart isn’t so hot at the moment. But give it time.
Currently, it’s oversold at double bottom support at $3.75. From here, I’d like to see it climb back to $5.50 initially.
Earnings weren’t hot. Its net loss of $0.36 missed estimates of $0.31. Its overall net loss of $116.5 million was greater than its year-earlier loss of $113.1 million. But don’t write it off just yet. The company has been focusing on achieving its Federal Aviation Administration (FAA) certification.
It has also recently secured partnerships with Stellantis (NYSE:STLA), which has recently bought another 8.3 million shares of ACHR.
Also consider that “Stellantis announced that its goal was for Stellantis to mass produce Archer’s Midnight aircraft as its exclusive contract manufacturer, thereby allowing Archer to strengthen its path to commercialization by helping it avoid hundreds of millions of dollars of spending,” said in a recent press release. “The construction on the first phase of Archer’s high-volume manufacturing facility in Georgia remains on track to be completed later this year.”
Lilium (LILM)
Even Lilium (NASDAQ:LILM) is on the move.
After bottoming out at around $0.80, LILM is now up to $1.10. From here, I’d like to see it test $1.50 again soon. The announcement that advanced air mobility operator UrbanLink agreed to buy 20 LILM Jets with an option to buy 20 more has helped significantly.
“Lilium’s partnership with UrbanLink marks a critical milestone in accelerating the adoption of AAM in South Florida. UrbanLink’s entry into the region includes plans to utilize the network of Florida vertiports that Lilium and its partners have diligently worked on over the past five years,” as noted in a recent press release.
In addition, LILM is reportedly in advanced discussions with the government of France to expand its high-volume production capacity of the Lilium jet. This includes potential government subsidies and loan guarantees.
If all goes well, shares of LILM could easily double, if not triple, moving forward.
On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
