For one, the first flying cars will likely be delivered to customers by late 2025. Alef Aeronautics was the first company to gain an FAA Special Airworthiness Certification earlier this summer. The firm expects to begin deliveries of its Model A vehicle in late 2025.
Two, growth stocks are soon going to be fashionable again. The Fed is nearing peak rates and is expected to begin cuts sometime in 2024. Those two factors, when combined, create plenty of runway for investors in flying car stocks that shouldn’t be ignored.
Joby Aviation (JOBY)
Joby Aviation (NYSE:JOBY) is moving quickly forward with its plans to bring electric vertical take-off and landing (eVTOLs) to the market. It remains among the most prominent flying car stocks that benefit from strong investor demand.
Further, Joby Aviation has done a lot to improve its chances of success over the past few weeks, making it even more intriguing moving into November. On Sept. 25, the company announced it had delivered its first aircraft to Edwards Air Force Base six months ahead of schedule. The early delivery will give the military more time to prove the capabilities of the eVTOL aircraft. The delivery should also make it crystal clear to investors that Joby Aviation has a real opportunity to ingratiate itself with a massive buyer that could create real fortunes. Joby plans to deliver a second vehicle to the base in early 2024.
Days later, on Oct. 4, Joby Aviation announced it began flight testing with four pilots for its commercial flight program. The pre-production vehicles were tested with human pilots, which is a big step forward for the team who previously conducted testing remotely from ground control stations.
EHang Holdings (EH)
EHang Holdings (NASDAQ:EH) is a great choice for investors who want to put their capital behind Chinese flying car technology and development. There’s a lot to like in that regard.
EHang’s vehicles have been cleared to carry passengers in China. Its EH216-S carries two passengers at a maximum height of about 9,800 feet and a cruising speed of about 62 miles per hour. The company is planning to expand sales internationally in 2024, so it’s fair to say that EHang is ahead of its U.S. competitors in many regards.
The company has conducted more than 39,000 trial flights in 14 countries so far. As mentioned, the firm intends to expand internationally, and those trial flights pave the way for that expansion.
EHang Holdings is a clear choice for investors who believe the tourism sector in China has potential. Its vehicles have strong connections to the local tourism boards there. With current clearance from China’s FAA equivalent, further development in that realm is inevitable.
Archer Aviation (ACHR)
Archer Aviation (NYSE:ACHR) is engaged in a competition with Joby Aviation. Both firms are vying to establish meaningful relationships with the U.S. military. That’s a good place to start in understanding ACHR stock as a potential investment.
Very recently, Archer Aviation received the first payment from the U.S. Air Force on a contract valued at $142 million. The nearly $1 million payment is the first of many to be paid for the use of Archer Aviation’s eVTOL program. As with Joby, Archer is in the process of proving its eVTOL vehicles to the military. The installment covers a flight simulator used to train U.S. Air Force pilots jointly with Archer Aviation.
And like Joby, Archer is also developing a commercial program. Archer Aviation is working with the Abu Dhabi Investment Office to bring a taxi service to the capital city of the UAE by 2026.
On the date of publication, Alex Sirois did not hold (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.