Electric vertical takeoff and landing (eVTOL) aircraft represent a potentially massive new transportation market.
Both of these companies have secured major partnerships and are racing toward FAA certification.
These stocks aren’t for day traders, but could reward investors with multiyear time horizons.
10 stocks we like better than Joby Aviation ›
Flying cars have been a punchline for decades — the technology that’s always “just around the corner” but never arrives.
That skepticism has created an opportunity. Electric vertical takeoff and landing (eVTOL) aircraft are no longer science fiction, and the two leading companies in this space have seen their stocks punished over the past month, despite making meaningful progress toward commercialization.
This isn’t a trade for anyone looking to flip shares next week. However, for investors willing to hold through volatility, the recent pullback in these names appears to be a gift.
Image source: Getty Images.
Joby Aviation (NYSE: JOBY) has emerged as the front-runner in the race to bring electric air taxis to market. The company is now in the final stage of Federal Aviation Administration (FAA) certification, having begun power-on testing of its first conforming aircraft. Management expects FAA test pilots to begin flying the aircraft early next year — a critical milestone that would put Joby on track for commercial operations in 2026.
The stock has pulled back roughly 35% from its 52-week high of nearly $21, resulting in a market capitalization of around $12.8 billion. That’s a rich valuation for a company with minimal revenue, but Joby’s partner roster suggests the smart money sees something real here.
Toyota has invested nearly $900 million in Joby and is assisting in scaling its manufacturing operations. Nvidia is collaborating on autonomous flight systems through its IGX Thor platform — making Joby the chipmaker’s only partner in autonomous aviation. And Uber Technologies, which sold its eVTOL research arm to Joby, remains a strategic partner with a clear interest…
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