Undoubtedly, we’ve all dreamt about having a flying car. Some people might daydream about the time they can save in traffic, while others just want to avoid potholes. That’s not even mentioning the cool factor of flying cars themselves. Today, thanks to the advancement of technology and creative minds, all that may become a reality.
Not only would this innovation completely evolve our day-to-day life, but our ways of traveling and moving goods would create a completely different future around the globe. If you want to get in on the sector before it takes off, here are three of the best flying car stocks to consider.
Joby Aviation (JOBY)
Joby Aviation (NYSE:JOBY) is an innovative company in the business of developing electric aircraft for commercial passenger services. Essentially, the company works to create completely electric flying vehicles that could revolutionize how we get around. Imagine a world where you could avoid traffic on the roads and take a flying car to get to your destination instead.
What makes Joby especially exciting is its focus on strategic partnerships. The company struck significant deals with giants like SK Telecom (NYSE:SKM) and Toyota (NYSE:TM). SK Telecom, one of South Korea’s leading telecommunications companies, invested $100 million in Joby. That not only brings in capital but also demonstrates confidence in Joby’s vision to revolutionize air transportation. Moreover, the collaboration with Toyota shows how the automotive industry is also interested in foraying into the air mobility space.
Joby’s appeal as a potential billion-dollar investment comes from its bold vision and ability to forge strategic partnerships with leading companies in different industries. If the company can bring its electric aircraft to market and establish ride-sharing services, it would change how we travel and generate significant value for investors.
However, it is important to note that, so far, Joby has reported adjusted quarterly losses of about 45 cents per share, beating analysts’ expectations for a loss of 15 cents per share. In addition, the company has reported zero revenue, indicating the company is still developing and has not begun to generate sales.
Lilium (LILM)
Lilium (NASDAQ:LILM) is creating a flying car called the Lilium Jet with wings and electric motors that help it take off vertically and move through the air, like compact, electric airplanes.
The company has raised $192 million in funding from leading German technology investors, demonstrating confidence in its vision. In addition, Lilium passed key audits by the European Union Aviation Safety Agency (EASA), showing its ability to design and certify flying cars.
In addition, LILM is the only company with both EASA and U.S. Federal Aviation Administration (FAA) certification basis for its electric flying cars. The company entered the Chinese market with a partnership and preliminary agreement for 100 Lilium Jets. It also made significant progress in creating the flying cars, including wind tunnel tests, electric motors and aircraft structures.
Lilium also managed its expenses efficiently, keeping second-quarter spending within budget through operational efficiencies and focusing on key targets.
While investment always involves risk, the bold vision and current achievements in terms of financing, certifications and product development can make this an attractive opportunity with incredible returns.
Archer Aviation (ACHR)
Archer Aviation (NYSE:ACHR), a cutting-edge developer of electric vertical takeoff aircraft (eVTOL), is turning the dream of flying cars into reality.
The company has secured significant investments, including a $215 million investment backed by giants such as Stellantis (NYSE:STLA), Boeing (NYSE:BA), United Airlines (NASDAQ:UAL) and ARK Investment Management LLC. These funds, which bring its total funding to more than $1.1 billion, propel its trajectory toward FAA certification and commercial operations in 2025.
These agreements include delivery of the company’s Midnight eVTOL aircraft, test data and pilot training to strengthen national defense.
In an exciting collaboration with Safran Electronics & Defense, Archer is advancing avionics technology. That alliance focuses on improving the safety and performance of its eVTOLs, utilizing Safran’s expertise.
Regarding its financial health, Archer has raised over $1.1 billion in funding to date. In addition, the company signed Department of Defense (DoD) contracts totaling up to $142 million, solidifying its position as a key player in the aerospace and defense sector.
As of this writing, Gabriel Osorio-Mazzilli 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.