Flying car stocks could become one of the most captivating investment stories. The plan appears to be on the launchpad, preparing for its debut in the realm of mainstream mobility. Though laden with risk, these revolutionary ventures’ returns could skyrocket over time.
The flying car space is driven by persistent technological advancements and investor enthusiasm. Moreover, the sector is expected to skyrocket to a whopping $17.84 billion by 2030. Analysts at Morgan Stanley predict that number could rise to an incredible $1.5 trillion by 2040.
Though investing high return flying car stocks may seem audacious initially, the promise of exponential growth unfurling over the coming decades might be the right time to start pondering on the best flying car stocks to buy. Let’s dive in to examine three of the best flying car stocks to wager on for the long haul.
XPeng (XPEV)
Chinese automaker XPeng (NYSE:XPEV) is effectively riding the wave of innovation in the EV sphere, broadening its reach beyond electric vehicles and venturing into flying cars. With a proven track record in manufacturing EVs since 2017, Xpeng is leveraging its technological prowess to unlock new growth avenues.
Xpeng Aeroht, an Xpeng subsidiary, achieved a major milestone last October with the debut flight of the Xpeng X2 in Dubai. A two-seater engineered for low-altitude excursions exemplifies the potential applications of flying cars for tourism and medical services.
Further showcasing its visionary spirit, Xpeng revealed a powerful new flying car model during its Tech Day in October last year. This innovative design merges road and air travel, and a finalized concept is on the horizon. Xpeng’s latest innovation could be a game-changer in the transportation niche, with an anticipated starting price of under one million yuan (approximately $140,000).
Nevertheless, Xpeng is in a relatively tough spot with lagging delivery numbers amidst a myriad of headwinds impacting its business. However, those looking for a top flying car stock pick for the long haul will find Xpeng attractive.
Joby Aviation (JOBY)
Santa Cruz, CA-based Joby Aviation (NYSE:JOBY) pioneered the electric vehicle take-off and landing (eVTOL) space. It has recently received a special certificate from the Federal Aviation Administration (FAA) for its ambitious flight testing plans. With an eye on delivering its first eVTOL by 2024, Joby is looking to steer the future of urban mobility by launching a commercial air taxi service the following year.
Furthermore, the U.S. Air Force is expected to receive Joby’s first eVTOL prototype in 2024 via its Agility Prime program. The initiative, supported by a whopping investment of $131 million, seeks to bolster U.S. technological and military prowess effectively.
Moreover, automaker giant Toyota (NYSE:TM) extended a $400 million investment and technology support to aid the construction of the pilot production line. Its eVTOL could be part of the Dubai Administration 2025 flying taxi program. Mass production could begin the following year if all goes well during the full device certification stage by 2024.
Archer (ACHR)
Archer (NYSE:ACHR) is fanning the flames of innovation in air mobility with its novel electric air taxi. The vehicle can comfortably ferry four passengers and a pilot, boasting an impressive range of 60 miles at speeds of up to 150 miles per hour.
In a strategic partnership with United Airlines (NYSE:UAL) and European automaker Stellantis (NYSE:STLA), Archer is set to soar higher. United Airlines’ collaboration will effectively streamline urban commutes in Chicago, transforming hour-long rides into breezy 10-minute flights. On the flip side, Stellantis is injecting $150 million into Archer and will assist in developing the company’s aircraft. Also, the partnership between Archer and Stellantis further strengthens with the construction a new manufacturing facility in Georgia.
This convergence of partnerships and technological advancements can effectively unlock unparalleled opportunities in the evolving landscape of urban air mobility.
On the date of publication, Muslim Farooque 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