Of course, choosing which flying car stocks are worth investing in can be tough. Wall Street ratings could be a good indication in this case. Below are three flying car stocks with at least one “Strong Buy” rating from Wall Street analysts.
EHang (EH)
China-based EHang (NASDAQ:EH) designs and manufactures autonomous aerial vehicles (AAVs) for tourism, logistics and emergency response applications. Unlike many AAV manufacturers, EHang has delivered several products and generated sales. Toward the end of last year, EHang received airworthiness certification from China’s aviation safety authority, making it the first company in the world to receive such a certification. The safety certification came after a number of compliance and safety assessments. Moreover, EHang’s third quarter results saw the AAV manufacturer deliver 13 AAVs, a notable increase over the 4 AAVs delivered during the same period in 2022.
Despite the economic overhang from the pandemic and an ongoing property debt crisis, EHang has still been able to grow its business and gain traction in several major Chinese cities. In February, the company signed an agreement with Guangzhou city authorities to initially focus on airspace management, infrastructure development and policy support. This agreement will allow EHang to help develop an eVTOL industry in the city.
The stock nearly doubled in 2023, and although share price performance has certainly underperformed the market, shares could rebound as analysts reevaluate EHang’s growth prospects.
Joby Aviation (JOBY)
While Chinese companies have certainly made strides to make flying cars a reality in the world’s second-largest economy, Joby Aviation (NYSE:JOBY) has been working to build the eVTOL space in the United States. In particular, this California-based company aims to create a scalable eVTOL aircraft that can carry passengers and cargo over short distances.
The company has made significant strides in preparing cities across the United States for flying taxi infrastructure. In mid-January, Joby announced a partnership with eVTOL company Atlantic to electrify current aviation infrastructure in southern California and New York. This would eventually pave the way for Joby to kickstart the release of its long-awaited air taxi service.
Furthermore, Joby signed a contract with Dubai’s Road and Transport Authority to give the start-up exclusive rights to launch and run an air taxi service in the UAE’s flagship city for six years. The air taxi service should launch by 2026. While Joby is definitely still pre-revenue, these various partnerships give us a glimpse into the company’s long-term potential as a major player in the nascent space. Joby’s share price is down nearly 20% in 2024, but the company’s stock could rebound as its flagship vehicle receives more certifications.
Lilium N.V. (LILM)
Lilium N.V. (NASDAQ:LILM) is the final flying car stock to make this list. This company is based in Germany and could provide investors with E.U exposure to the nascent sector. In particular, Lilium develops eVTOL aircraft for high-speed air transport of people and goods.
The Lilium Jet is the company’s most anticipated product, and production of the eVTOL began in Germany in December 2023. Lilium has received several indications of interest worldwide for its product in Europe, the U.S. and China.
As production ramps up, Lilium could be a good bet for the future of flying car stocks.
On the date of publication, Tyrik Torres 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.
Tyrik Torres has been studying and participating in financial markets since he was in college, and he has particular passion for helping people understand complex systems. His areas of expertise are semiconductor and enterprise software equities. He has work experience in both investing (public and private markets) and investment banking.