Lilium, ACHR, EVTL shares trade higher

Lilium, ACHR, EVTL shares trade higher

Shares of several electric vertical takeoff and landing eVTOL companies including Lilium N.V. LILM, Archer Aviation, Inc. ACHR and Vertical Aerospace, Ltd. EVTL are trading higher on Wednesday. The move appears to be in some possible sympathy to Joby Aviation Inc's JOBY Federal Aviation Administration FAA certificate announcement.

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Joby Aviation has received a Special Airworthiness Certificate for the first aircraft built at its Pilot Production Line in Marina, California. Joby has been granted the Special Airworthiness Certificate by the Federal Aviation Administration, enabling him to commence testing of its first production prototype.

Today's achievement is the culmination of years of investment in our processes and technology and it marks a major step on our journey to scaled production, said Joby's founder and CEO, JoeBen Bevirt. Shares of JOBY rose over 40 percent on the news and shares of related firms appear to be getting a boost. The experts at Lilium, Archer Aviation and Vertical Aerospace are all working on developing eVTOL technologies.

A new regulatory filing Tuesday showed that Stellantis recently increased its share of Archer Aviation to 10.6 percent. On Monday, Lilium announced it had received G - 1 certification from the FAA. Momentum appears to be growing in the broader eVTOL space.

LILM, ACHR, EVTL price action: Shares of Lilium are trading at $1.64, Archer Aviation shares are over 14% higher at $3.90, and Vertical Aerospace shares are more than 5% higher at $1.88.