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Developments in flying cars mean they could come sooner than expected, says city broker

Fan technology currently used in small drones could be adapted to larger transport vehicles without much more development, opening up a massive market for efficient batteries to power them

Lilium flying car prototype
Flying car prototype developed by Lilium GmbH

Development of flying car technology is gathering pace and they may become a commercial reality much sooner than expected.

Fan technology currently used in small drones could be adapted to larger transport vehicles without much more development, opening up a massive market for efficient batteries to power them.

WATCH: 'Transformational' developments in flying cars as battery metal miners take focus

The demand for batteries will require large amounts of rare earth metals including Niobium, Lithium and Cobalt, music to the ears of several mining companies focused on the sector.

With the power density of batteries predicted to double within the next ten years, the battery metals market is looking far more attractive to some brokers.

John Meyer from broker SP Angel has recommended that junior mining companies working in the sector, such as African Battery Metals (LON:ABM), Strategic Minerals (LON:SML), and Savannah Resources (LON:SAV), would be worth attention given the potential of the market.

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