Not Joby Aviation, not Archer Aviation (NYSE: ACHR), but Beta Technologies (NYSE: BETA) gets bragging rights as the first electric vertical takeoff and landing (eVTOL) developer to secure Federal Aviation Administration (FAA) authorization to conduct demonstration flights with potential customers onboard. That's a huge accomplishment. So why would I rather own Archer stock? Beta Technologies is an aerospace company developing electric aircraft. Like Archer and Joby, Beta is building eVTOLs for commercial passenger services. Unlike the former two, however, which have electric air taxis at the heart of their ambitions, Beta is focusing on the nonpassenger transportation side of its business, like hauling cargo and medical supplies.
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