While flying cars can be an unfamiliar concept for most, it may be our new future. This relatively new industry has the potential to revolutionize the way we travel. At a compound annual growth rate (CAGR) of 58.1% for the next 15 years, the flying car industry shows an outstanding growth potential. Due to the inherent high risk in the industry, investors should do their due diligence before buying to ensure that they are only investing in the best flying car stocks.
Below are the three best flying car stocks to buy this month.
Joby Aviation (JOBY)
Joby Aviation (NYSE:JOBY) is an American aviation company that develops electric vertical takeoffs and landing (eVTOL) for commercial passenger service. Joby Aviation has international presence and is a leader in the growing flying car industry.
In the beginning of this year, Joby agreed to install the first air taxi charger in the greater New York City region, making the dream of using flying cars as a day to day transportation into a reality.
Joby’s most recent financials from the first quarter of 2024 suggest positive signs and a buy position. The American aviation giant was able to secure $924 million in cash, giving the company a safety cushion to leverage
Joby Aviation has advantages over its competitors when it comes to international presence and partnership. The company has multilateral agreements with three distinct government departments in the UAE as well as an exclusive deal for the city of Dubai.
Lilium N.V. (LILM)
Lilium N.V. (NASDAQ:LILM) is a German producer of electrically powered personal air vehicles that are capable of electric vertical takeoffs and landing flights.
The company has recently found a new financing opportunity. Lilium has secured $114 million for electric jet development, which includes a $40 million public offering of shares and warrants. This new sum of capital is expected to help Lilium develop the first manned flight of the fully electric jet by the end of this year and give the company more legroom in its research and development before Lilium begins producing flying cars. The company is scheduled to begin initial services with Lilium Jet in 2026.
Lilium announced a partnership with Lufthansa, an Austrian aircraft giant with a strong presence in Europe. This strategic partnership shows the company’s efforts towards constantly expanding their revenue growth and potential for the company by expanding its international presence in the market. This partnership includes third parties like airports and vertiports setups.
Eve Holdings (EVEX)
Eve Holdings (NYSE:EVEX) is a Brazilian subsidiary of Embraer that focuses on the production of electric vertical take-offs. Its operation is mainly in non-U.S. regions such as Europe and East Asia.
In 2023, the company has announced that it will build its first eVTOL production facility in Taubate, Brazil as part of its expansion program. The company has also started the certification process with Brazilian aviation authorities and is scheduled to get certified by 2026, when they hope to start delivering their eVTOLs. Eve has completed its eVTOL design, which include a Lift + Cruise feature that ensures safety as well as performance.
In its most recent first quarter 2024 financials, Eve revealed a concerning 39.3 million in loss. This was mainly a result of increased investment into research and development. Despite the negative results from its latest earnings report, Eve still presents a good investment opportunity for those who believe in the company’s promising long-term growth potential.
On the date of publication, Andy Kim 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.