Top flying car stocks such as Joby Aviation and Archer Aviation have tumbled this year, wiping out billions of dollars in market value. Joby Aviation shares have fallen 48% year to date and 60% over the past 12 months, while Archer Aviation has declined 37% and 57%, respectively, despite both companies moving closer to commercial operations. Archer and Joby Aviation stocks have fallen ahead of their commercialization stage Electric vertical takeoff and landing (eVTOL) companies have been in the spotlight in the past few years as they seek to disrupt the transportation industry. Their goal is to build small electric aircrafts that can travel by between 241 km/h and 322 km/hr carrying about 4 passengers. Archer’s Midnight will have a 160 km range, while Joby Aviation’s S4 has a 241 km range. Archer and Joby have worked hard in the past few years to develop, test, and re…

Archer has received huge investments from Stellantis, the parent company of Jeep and Fiat. The companies have also made a lot of progress in inking deals ahead of their launches. Joby Aviation finalized an electric air taxi deal with Virgin Atlantic this week. It also has similar deals with Delta Air Lines, Uber, Saudi Arabia, and Dubai. Archer has deals with United Airlines, which will buy up to 200 aircrafts, Ethiopian Airlines, and Southwest. Analysts estimates that the eVTOL industry has more room to grow in the near term. A study by Markets and Markets estimates that it will have a compounded annual growth rate (CAGR) of 12.3% between 2025 and 2035. Its market size will hit $5 billion then.