Significant growth has been seen in the electric vehicle sector. Companies specializing in making EVs make up the companies represented by electric car stocks. Electric vehicle manufacturers are also regarded as a subset of the industry. Examples of these manufacturers include batteries and autonomous vehicle systems. China is also becoming one of the top electric car producers, hence the increase in the demand for their stocks.
Demand for electric vehicles and, hence, their stocks, have increased dramatically over the past ten years as a result of the move toward sustainable practices and clean energy.
Electric Car Stocks
#1. Tesla, Inc. (NASDAQ: TSLA)
This company is the biggest producer of electric vehicles worldwide. Additionally, it has facilities all over the world and sells energy storage products. According to market capitalization, Tesla is the world’s biggest manufacturer of electric vehicles. It is evident who the true leader in the electric vehicle industry is given that Tesla, Inc. (NASDAQ: TSLA) delivered an astounding 1.31 million vehicles in 2022.
Tesla is still pursuing a vigorous production strategy, hoping to boost production at its Fremont, California, and Shanghai factories. The two more recent enormous factories, in Austin, Texas, and Berlin, Germany, which are still in the ramp-up phase, are likely to provide the greatest production boost.
The company’s biggest shareholder is Citadel Investment Group, run by Ken Griffin. It is the owner of 7.5 million shares, valued at $926 million.
#2. BYD Company (BYDDF)
The most prosperous EV manufacturer is undoubtedly BYD Company (OTCMKTS: BYDDF), which has recently set industry records for deliveries. Furthermore, BYD runs a solid business that generates profits for its investors. In addition to its pricing advantages, its expansion plans are expected to yield numerous benefits. BYD is by far the largest EV manufacturer in China, and the company’s sales are less than those of Tesla’s China operations.
It began selling its EVs in Japan, one of the biggest markets for automobiles and then expanded to India, Thailand, and China. Additionally, it intends to strengthen its presence in the ASEAN Growth Belt to keep generating even better numbers in the future.
2020 saw the official release of BYD’s Blade battery, a less voluminous LFP battery that was backed by Warren Buffet. In addition, BYD is the world’s top manufacturer of a variety of rechargeable batteries, including lithium-ion, nickel-metal hydride, and nickel-cobalt-manganese batteries. From mineral battery cells to battery packs, BYD is in complete control of the supply chain.
#3. General Motors Company
Another venerable American automaker is General Motors Company (NYSE: GM). The company is headquartered in Detroit, Michigan. Similar to Ford, General Motors Company (NYSE: GM), which has strong 57% annual growth, is making a significant impact in the market for electric vehicles. With a $1.6 billion stake consisting of 50 million shares, Warren Buffett’s Berkshire Hathaway is the largest hedge fund shareholder in General Motors Company (NYSE: GM).
#4. ChargePoint (CHPT)
With 200,000 operating charging stations worldwide, ChargePoint (NYSE: CHPT) is the leading supplier of EV infrastructure. The business has continued to grow rapidly, posting double-digit sales growth for the past few quarters.
#5. Ford Motor Company (NYSE: F)
This renowned American automaker is widely acknowledged as having created the first mass-produced automobile. Additionally, the market for electric vehicles has seen significant growth at Ford Motor Company (NYSE: F).
#6. Rivian Automotive, Inc. (NASDAQ: RIVN)
It is an American company with its main office in Irvine, California. The company manufactures electric SUVs and pickup trucks. Investors were alarmed in March 2023 when Rivian Automotive, Inc. (NASDAQ: RIVN) announced it would raise $1.2 billion through bond sales to support its operations while also reducing its production forecasts.
#7. Oshkosh Corporation (NYSE: OSK)
This American company manufactures and markets trucks and other large machinery. Its main office is located in Oshkosh, Wisconsin, as the name would imply.
Electric vehicles are produced by Oshkosh Corporation (NYSE: OSK), including delivery vans, garbage collectors, fire trucks, and vehicles for placing concrete. The U.S. Postal Service has already awarded its delivery vans a sizable contract.
#8. Lucid Group
For the Lucid Air, which was produced in roughly 2,200 units during the third quarter of 2022, the luxury EV manufacturer has more than 35,000 reservations. Even though Lucid’s stock price has been steadily falling this year, the company is still worth about $20 billion. It continues to be a risky investment, just like the majority of small EV manufacturers.
Lucid was established in 2007 and makes high-end electric vehicles from its headquarters in California. The company’s first vehicle, the Lucid Air, is a cutting-edge luxury sedan that is being made at its factory in Casa Grande, Arizona.
#9. Blink Charging Co.
To serve residential customers, building owners, parking garages, sporting venues, and other public spaces, Blink Charging owns and operates EV charging equipment as well as a network of charging stations that are all managed by its cloud-based software.
Best Electric Car Stocks
#1. Rivian (NASDAQ: RIVN)
having a market value of $17.53 billion and a share price of $19.04 in the United States. The 2009-founded company Rivian designs, develops, and manufactures electric vehicles and accessories that raise the bar in their respective markets, and then sells them directly to consumers and companies. Amazon and Ford (NYSE: F) both provided financial support for Rivian, which was publicly listed in 2021.
#2. Proterra (NASDAQ:PTRA)
Proterra was established in 2004 and develops and produces electric transit vehicles with zero emissions as well as EV technology solutions for business uses. Through a merger with the special purpose acquisition firm ArcLight Clean Transition in 2021, Proterra became a publicly traded company. EV parts for heavy-duty vehicles, including drivetrains and batteries, are also produced by Proterra, including electric buses.
China Electric Car Stocks
#1. XPeng Inc. (NYSE: XPEV)
Manufacturer of electric vehicles XPeng Inc. (NYSE: XPEV) is based in Guangzhou, China. The company produces and markets family sedans, sports sedans, and sport utility vehicles (SUVs). The mid to high-end middle-class market is the focus of Chinese EV automaker XPeng, which was founded in 2015. The stocks of this China-based electric car company are also one of the top-performing ones to buy now.
The biggest shareholder in hedge funds at XPeng Inc. (NYSE: XPEV) is Renaissance Technologies, which is owned by Jim Simons. It owns 7.2 million shares that are worth $72 million. XPeng introduced three new vehicle models for the Chinese market at the beginning of 2021, all of which were LFP battery-powered. Its long-range models are powered by NCM batteries.
#2. NIO Inc. (NYSE: NIO)
A second Chinese producer of electric vehicles is NIO Inc. (NYSE: NIO). The company produces and markets sedans as well as SUVs. The company additionally provides its clients with energy products and services for vehicle inspections. Since its launch in 2014, NIO, a Chinese electric vehicle startup, has captured the attention of consumers. This is another China-based top producer of electric car stocks.
Within the Chinese smart EV market, this is a premium brand. Despite the challenges, it continues to amaze investors with quarterly deliveries that break records. It has delivered 20,663 vehicles so far this year, up 31% from the same period last year.
Nio will experience several advantages later this year with the introduction of five new models and plans to open a new EV factory for its European operations. As a result, with the growth catalysts active, look for Nio to rebound over the coming months.
Battery as a Service (BaaS), a subscription-based purchasing model where customers lease the battery of the vehicle, is a component of Nio’s business strategy. According to the business, the purpose of the change is to lower the price of the actual vehicle. Nio and top battery manufacturer CATL each own a stake in the Battery Asset Company, which manages BaaS. Nio already receives all of its batteries from CATL.
#3. Li Auto Inc. (NASDAQ: LI)
Chinese electric vehicle producer Li Auto Inc. (NASDAQ: LI) has its Beijing headquarters. The SUV with six seats, Li ONE, is the company’s sole electric vehicle. Li Auto is a top producer of electric cars, and hence its stocks are based in China
Li Auto Inc. (NASDAQ: LI) saw success in Q4 2022 after receiving a $10 million investment from Canada’s largest pension fund. In 2022, Li was one of the best-performing EV stocks.
With its excellent cost control and successful execution, it might be the first of a trio of leading Chinese EV companies to achieve profitability.
It has made significant strides toward profitability, in large part due to strong delivery growth. The manufacturer of EVs experienced a growth in vehicles of 23.4% and 97.5% in January and February, respectively, over the previous two months.
In China, Li Auto prides itself on being a pioneer in the successful commercialization of long-distance electric vehicles. Li Auto’s models enable users to charge the battery pack with either electricity or gasoline, which is one of their main distinctions from those of the other businesses on this list. Li Auto refers to the design as extended-range EV technology. The business intends to introduce its first all-electric vehicle in 2023.
Is EV a Good Investment?
The electric vehicle market share is rapidly increasing, particularly in Europe. Experts predict that by 2040, they will control a whopping 58% of the market. Undoubtedly, buying an electric car is worthwhile, because it is less expensive to fuel and maintain over time
- Free of road taxes and emissions fees
- Better than average value retention
- Future-proof thanks to cutting-edge technology and no emissions
Who Owns the Most Stock in Electric Cars?
With 412.6 million shares or 13.04% of the company’s stock, Elon Musk holds the largest number of shares of any individual. It put Musk’s ownership stake in the business at $84.89 billion.
Who Will Be the Biggest EV Company?
By market capitalization, Tesla (TSLA) is without a doubt in the top spot among the biggest manufacturers of electric vehicles. In the final quarter of 2022, the EV industry leader produced and delivered more than 405,000 vehicles.
Which EV Stock Does Warren Buffett Own?
A significant portion of the Chinese EV manufacturer BYD is owned by Berkshire Hathaway. Over the past three months, BYD has easily outperformed Tesla.
Which Company Will Dominate Electric Cars?
Tesla Inc. (ticker: TSLA) is without a doubt the market’s dominant EV manufacturer. – Tesla
The largest electric vehicle manufacturer by market capitalization is without a doubt Tesla (TSLA).
How to Invest in Electric Cars?
The two main ways to invest in EVs are to purchase the stock of automakers that specialize in producing EVs, like Tesla, or an exchange-traded fund that invests primarily in businesses related to EVs.
Conclusion
Manufacturers of electric vehicles, producers of electric batteries, businesses that produce charging infrastructure, and businesses that produce electric motors are all examples of electric vehicle stocks or EV stocks. Electric vehicle stocks have proven to be extremely profitable, providing investors with multiple-fold returns. China is becoming a top producer of electric car stocks.
There are many options available if you’re searching for stocks related to electric vehicles. However, keep in mind that purchasing individual stocks is typically riskier than purchasing an exchange-traded fund or an index fund with a wide range of holdings.
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