That’s similar to the question the horse breeders were asking when Ford showed up
OOH …Here’s One Thing
Flying Cowboys
by Jim Johnsen,
Managing Director, Johnsen, Fretty & Company
https://youtu.be/q7Gs1mDFuEM?si=1gpX0-AJ0m4Z5IrN
“He has been driven beyond all towns
And all the systems until now, though it is long past too far
He keeps going”
Rickie Lee Jones
For about the past decade, give or take, my ever persuasive partner always starts out meetings with private equity guys, family offices, hedge funds, lenders and other land sharks by saying, “Hey look, until we start learning how to fly our cars, billboards are not going anywhere.” I must say, it’s not a bad way to open, and it always brings a secret chuckle to my lips.
Much to my surprise then, when I perused last week’s Barron’s, that buried there in the deep recesses of the magazine (bugs the hell out of me that they call themselves a magazine by the way but that’s a different story), was an article titled “China’s Foray Into Flying Cars”. Funny right?
https://youtu.be/IWINtUCshxY?si=7ervSzqeYpS3z6ri
I’m with Joe Pesce on this one. Maybe not so funny. Here is a clip from the article:
“The southern city of Guangzhou, once called the workshop to the world, said it’s creating mechanisms to foster the sector and will invest more than CNY10 billion by 2027. Guangzhou is home to two firms that specialize in battery-powered vertical take-off and landing, or eVTOL, vehicles: Xpeng AeroHT, a subsidiary of EV maker Xpeng, and EHang Holdings. Nasdaq-listed EHang said it has received investment offers from the Middle East and Southeast Asia.”
In other words, these guys ain’t just messing around. Not convinced yet? Check this out:
Non-stop Flights to Go Global: EHang’s “Air Taxi” Flights in Four Japanese Cities
In addition, as if that wasn’t enough, these guys are tangentially in the outdoor business:
EHang | Autonomous Aerial Vehicle (AAV) Innovator for Urban Air Mobility (UAM)
(anyone remember Lamar’s awesome light show after the Obies?
Still, nothing to worry about right? I mean seriously Johnsen, how much traffic could these self flying autonomous vehicles drain from the…ehem…world leading U.S. interstate system. That’s similar to the question the horse breeders were asking when Ford showed up. But hey, if you want to right that one off, then take a look at this article:
Rimac Verne Robotaxi: prices, availability, specs | WIRED
Alright, enough seriousness as we sail into that very special summer occasion called the 4th of July. I’ll leave you with this (at least us old timers will get the reference):
https://youtu.be/FyinD6ZDqeg?si=AW3XFD4PfjLWozwR
Wishing y’all a Happy 4th.
ps – link to the full Barron’s Article here: China Wants Flying Cars and Drone Deliveries to Take Off. It’s Low-Altitude With High Stakes. – Barron’s (barrons.com)
jfco.com
Securities transacted through StillPoint Capital Member firm FINRA/SiPC