Flying car industry advances with solid-state batteries

What happened: Stellantis (NYSE:STLA) and Factorial (NASDAQ:FAC) initiated North American road testing of an electric vehicle (EV) powered by advanced solid-state battery technology on June 11. The EV, a Dodge Charger Daytona, integrates the solid-state battery, marking a significant step towards commercialization. Meanwhile, UK-based Ilika PLC (AIM:IKA) raised £4.56 million to commercialize its solid-state battery technology.

Market impact: The flying car industry is poised for growth, with solid-state battery advances accelerating commercial adoption. Stellantis, an undervalued stock with high upside potential, stands to benefit from this shift. The solid-state battery market is expected to grow at a CAGR of 35.2% from 2021 to 2028, driving demand for companies like Ilika.

What to watch next: Stellantis' and Factorial's road testing results, expected in Q3 2022, will validate the solid-state battery technology's performance and safety. Additionally, Ilika's progress towards commercializing its solid-state battery technology, with a target of 2024, will be crucial for investors.