The market for flying car stocks is expanding rapidly. These companies sell solutions in various industries, such as industrials and tourism. The application of flying cars can be used in versatile situations. This includes situations such as in search and rescue or as a replacement for forklifts in large warehouses. The possibilities are endless.
So, if you want to grow your portfolio, here are some of the top flying car stocks to add today.
Embraer (ERJ)
Embraer (NYSE:ERJ) is a multinational Brazilian aerospace corporation that designs and manufactures a range of aircraft and systems, from commercial to executive aviation. ERJ also creates aircraft for defense and security. The company has a subsidiary, Eve. Eve aims to create a practical flying car and is planning to build a flying taxi factory in Sao Paulo by 2026.
The bull case for investing in Embraer is underscored by its ambitious challenge against aerospace giants in the industry. The company reported a 25% increase in EPS last quarter and a 2% rise in revenue to $1.29 billion. The numbers show resilience and potential for growth. Additionally, Embraer has secured several contracts, including one with the Austrian Ministry of Defense. The contracts skyrocketed the stock about 80% in the last 14 months.
This makes ERJ one of those top flying car stocks to consider.
EHang (EH)
EHang (NYSE:EH) is a Chinese company leading in the flying car industry. It has developed EH216, an air taxi with a maximum speed of 80 miles per hour. The company has conducted more than 8,000 trial flights across 19 testing sites in 17 Chinese cities.
The bull case for investing in EH stock is strengthened by its recent achievement of obtaining a type certificate from the Civil Aviation Administration of China (CAAC) for its EH216-S unmanned eVTOL (electric vertical takeoff and landing) aircraft. This certification, a first of its kind globally, allows EHang’s aircraft to conduct passenger-carrying commercial operations.
Asia is a major growth region for flying cars and other technologies, making EH stock a prime canditate to appreciate in value further.
Joby Aviation (JOBY)
Joby Aviation (NYSE:JOBY) is an American company that has seen its stock increase by more than 100% year to date. It has strong financials and developmental progress, with partnerships with companies like Toyota.
Joby has already delivered its first eVTOL to the Air Force and aims to commence commercial air taxi service by 2025. The company is also making substantial progress towards FAA certification, having completed various stages
Furthermore, Joby’s aircraft are designed to be exceptionally quiet and efficient, aligning with urban operational needs. The company is strategically planning high utilization to ensure competitive pricing for its services. The ongoing development of a $500 million production facility in Dayton, Ohio, further underscores Joby’s commitment to advancing in the eVTOL space.
With all these factors considered, it’s definitely one of those top flying car stocks to consider.
On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.