Shares of Electric Vertical Take-Off and Landing vehicle (eVTOL) companies including Joby Aviation (NASDAQ:JOBY), Archer Aviation (ACHR), and Lillium NV (LILM) soared in pre-market trading at the time of writing on Thursday after the Federal Aviation Administration (FAA) gave JOBY a Special Airworthiness Certificate allowing it to test its production prototype. In addition, JOBY announced today that the company had received a $100 million investment from a South Korean telecommunications company, SK Telecom.
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When it comes to Archer Aviation, Stellantis (STLA) picked up a 10.6% stake in the company recently and holds around 17.5 million shares as on June 23. Lillium NV received the FAA G-1 Certificate earlier this week and according to the company’s press release, is a “critical milestone in the FAA cross-validation process, establishing airworthiness and environmental requirements necessary to achieve FAA Type Certificate Validation.”
This flurry of good news when it comes to eVTOL companies has caused some excitement in this sector. For investors interested in getting exposure to this sector, they can consider the SmartETFs Smart Transportation & Technology ETF (MOTO) which has gained more than 25% this year.