Stocks to buy

3 Flying Car Stocks to Buy on Every Single Dip

Flying car stocks can take investment portfolios into the stratosphere, moving from sci-fi fantasy to high-flying reality. What once buzzed solely in the realm of cinema is aggressively moving toward practicality, with multiple enterprises spearheading groundbreaking advancements. Additionally, early birds in this sector are poised for potentially soaring returns, painting the horizon with hues of profitability.

Moreover, these flying car stocks plan to catapult expectations by pegging the flying car realm’s worth at a stellar $1 trillion by 2040, with sights set on a dizzying $9 trillion in 2050. With the sector’s valuation at a modest $220 million in 2022, the forecasted climb to a staggering $1.5 trillion within two decades is nothing short of impeccable, pointing to a robust CAGR north of 55%. The best flying car stocks are preparing for takeoff with tailwinds promising decades of dynamic growth.

Flying Car Stocks: Xpeng (XPEV)

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Bridging the realms of electric vehicles (EVs) and aerial innovation, Xpeng (NYSE:XPEV) is revving up intrigue with its X2 flying car. The EV giant’s airborne brainchild soared across Dubai’s skies while clinching a coveted flight permit in China. Boasting a 35-minute airtime and flirting with speeds of 80 mph, the X2 is a major statement.

Moreover, Xpeng plans to revolutionize European self-driving fleets, courtesy of a strategic alliance with industry titan Volkswagen (OTCMKTS:VLKAF). Amid varying analyst perspectives on XPEV stock, bullish momentum is ascending, powered by XPeng’s strides in autonomous software and its Volkswagen partnership. This fervor is not ungrounded, with HSBC’s fresh rating promotion echoing the sentiment. As we advance, the budding twin engines of EV profit realization and eVTOL commercialization could potentially fuel a major stock ascent. So, for XPeng, the sky isn’t the limit; it’s just the beginning.

Archer Aviation (ACHR)

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Archer Aviation (NYSE:ACHR) remains a burgeoning juggernaut in the flying car realm, which isn’t just making progress; it’s virtually soaring. With ACHR stock catapulting by an astounding 160.4% year-to-date, the company’s trajectory in commercializing eVTOL technology is nothing short of awe-inspiring.

Recent triumphs include a hearty initial payment from the U.S. Air Force, part of a whopping $142 million contract, underscoring a resounding vote of confidence in the company’s innovative prowess. Furthermore, a landmark agreement with the Abu Dhabi Investment Office can electrify the UAE’s skies with an all-electric air taxi service by 2026, hot on the heels of its planned U.S. commercial launch in 2025. What’s more, Cathie Wood’s Ark Invest has given a substantial vote of confidence in Archer’s skyward ambitions, snapping up 1.27 million shares. Hence, with such robust tailwinds, Archer Aviation is not just flying; it could become a giant in the eVTOL universe.

Joby Aviation (JOBY)

Source: T. Schneider / Shutterstock.com

Joby Aviation (NYSE:JOBY) is ascending rapidly in the eVTOL sector, with its stock soaring close to a remarkable 100% this year alone. It plans to launch its green air taxi service by 2025 and is flying high post securing a substantial $131 million contract with the U.S. Air Force. Not just resting on its laurels, Joby actively engages with both the U.S. Air Force and NASA in cutting-edge research and has kickstarted manned flight tests, a critical phase in its quest for FAA certification.

The company’s vision extends to dominating the skies with aerial ridesharing networks backed by powerhouse partnerships, including with the likes of Delta (NYSE:DAL) and Uber (NYSE:UBER). Strategic alliances with these industry giants will further cement its fiscal health and authoritative stance in the field. Additionally, Joby has initiated flight testing with pilots on board and proudly delivered its inaugural eVTOL aircraft to the U.S. Air Force, a significant landmark under the lucrative contract, with more deliveries expected for 2024.

Furthermore, boasting a robust $1.2 billion in cash and equivalents as of the second quarter, Joby is well-fueled for investment-heavy ventures. With the FAA already giving the nod to over two-thirds of its certification plan, the company is on course to initiate commercial flights come 2025.

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.

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

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