Flying cars, or eVTOLs, are progressing rapidly, sparking urgency among investors to pounce on the opportunity. There’s been a ton of investment in the field, and the growing consumer interest could potentially spur a multi-billion-dollar industry. Hence, it’s tough to pass up on flying car stocks to buy, especially after the recent correction.
The flying car stocks to buy discussed in the article have performed disproportionately at the stock market. However, on the operational front, it’s tough to deny their robust progress in commercializing flying cars in their specific markets. These companies are set to launch their commercial operations within the next couple of years, which makes it an excellent time to scoop them on the dip.
Flying Car Stocks to Buy: Archer Aviation (ACHR)
Archer Aviation (NYSE:ACHR) is perhaps the best first name that pops up when considering flying car stocks. However, its stock has seen better days, with it roughly 51% behind its 52-week high of $7.49. It’s lost the bulk of its gain made last year, down more than 40% year-to-date (YTD). However, it’s now trading at a significantly attractive entry point, with Wall-Street analysts expecting a 147% upside from current levels.
Archer probably has the most aggressive growth strategy in its niche. It plans to finish up its large-scale manufacturing plant this year and aims to produce 650 vehicles annually by next year. Moreover, it recently initiated an agreement in Abu Dhabi to expedite the launch of commercial air taxi services throughout the UAE. Additionally, it has its eyes on India, another massive market for its business.
Furthermore, the company already has a massive order book backlog valued at $3.5 billion, which provides strong revenue visibility. Hence, ACHR stock is tough to pass up with so many catalysts in play.
Joby Aviation (JOBY)
Joby Aviation (NYSE:JOBY) is another top player in the flying car space that’s very similar to Archer Aviation. For starters, both companies saw a healthy uptick in value last year before tanking in recent months. Moreover, like Archer, Joby is looking to make significant inroads in the UAE market, with the launch of its air taxi services in Dubai starting in 2026. Also, it expects to begin commercial services in Los Angeles and New York by 2025. Archer and Joby will be looking to stamp their authority in the domestic market, but in the early stages, expect both to gain substantially.
In other news, Joby has successfully used its production prototype aircraft to effectively gear up for-credit flight testing. Additionally, the firm has expanded its operational capacity by buying out a facility at Dayton International Airport, bolstering its production capabilities to manufacture 500 aircraft on an annual basis. Hence, given its strong progress and promising future, Wall Street analysts forecast a 32% potential increase in the company’s stock price from its current level.
EHang (EH)
EHang (NASDAQ:EH) is perhaps the pick of the eVTOL stocks at this time. It distinguishes itself from the pack, having already commercialized its flying car operations, as well as forming partnerships in major cities globally.
The Chinese eVTOL has witnessed a tremendous surge in sales in the past year, growing its top-line by triple-digit margins. It concluded last year with $16.5 million in sales last year, forecasted to end the year with a substantial $57 million in sales. Moreover, analysts expect EHang to generate an incredible $115 million in sales next year, a testament to its spectacular growth trajectory.
As we advance, the company will be looking to expand its presence in China beyond Guangzhou and Hefei. Moreover, its also looking to bring its eVTOL to the Middle East, forging partnerships similar to Archer and Joby. Hence, EH stock is poised for substantial upside ahead for risk-taking investors.
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.