This lower price point will cater to a larger segment of the population who cannot afford the higher prices of luxury electric vehicles. With many automakers focusing on electric vehicles, more EVs are reaching showroom floors than ever before. This gives consumers a sizable selection of makes and models. ChargePoint is the largest Best food stocks provider of electric vehicle charging stations in the U.S. and in the world with 30,000 charging stations and counting. While electric vehicle charging is relatively easy to commodify, ChargePoint continues to be the leader in this segment. In a list of fairly high-risk stocks, ChargePoint is going to be one of the riskier plays.
While Tesla’s stock price exhibited volatility in 2023, it has shown an overall upward trend, with a year-to-date increase of approximately 110%. Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective. They acquired Jabil‘s mobility business in China, enhancing their electric component presence. In August, BYD set a sales record, aiming for 3 million vehicles this year, excelling in China.
Unlike is peers, EVgo offers only fast chargers, which can recharge a vehicle in much less time than the more common “Level 2” chargers. The company has more than 800 fast charging locations across the U.S., and all of them are powered by 100% renewable energy. EVgo has more than 310,000 customer accounts and it intends to more than triple its charging network in the next five years. EVgo’s revenue grew 73% year over year in the third quarter.
Technically though, NIO is sitting on the edge of a precipice. Breaking this will likely lead to $22 and so filling the gap from October 2020. That would certainly be a tempting entry point, but that is not much good when the stock is trading at $30. As mentioned, China remains the world’s largest EV market and NIO has new product launches to tap into. First, to satisfy the growing Chinese middle and upper class population, NIO is launching a premium ET7 sedan.
Ford Motor Company (F)
Companies that manufacture the components used in electric cars — such as batteries or autonomous vehicle systems — can also be considered part of the electric car industry. Investors who wish to diversify can look for exchange-traded funds (ETFs) that invest in a range of electric vehicle stocks to benefit from a range of electric car industry developments. These types of funds can help minimize risk and provide exposure to a fast-growing sector. The future for electric vehicles and electric car stocks looks promising. In just about a decade, one of every five cars sold is expected to be electric. By 2030, electric vehicles will comprise about half of car sales.
The luxury electric car maker produced just over 2,300 vehicles in the first quarter, and it’s set a goal of producing 10,000 vehicles for the full year. Lucid raised $1.2 billion in additional capital in May, which will help cover its losses as it scales up production. Lucid stock is pricey, valued at $14.6 billion despite quarterly revenue of less than $150 million, so investors should tread carefully.
If NIO were to close below $30, I will likely exit my position and remain on watch to reenter. This will be my first level to return in the event NIO breaks $30. I will not panic if the stock retreats more to fill the gap at $22, but a close below $20 will stop me out again. Obviously, ai companies to invest in this strategy runs on the assumption that underlying earnings remain strong. NIO announced in early summer that it was to expand to Norway and Germany. Norway is often selected due to its high EV adoption, making it the perfect environment for new test launches and market fact finding.
- More than likely, it’s both, as the market inevitably tips further toward electric vehicles.
- Nio’s returns have been relatively subdued, while Tesla has nearly doubled.
- Nio is another one of the EV stocks on this list that should be considered a speculative play.
- The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are weak and NIO is trading below all major moving averages.
- Ford CEO Jim Farley recently estimated that the company is likely to increase EV production to 600,000 vehicles by 2023.
In December, plug-in vehicles accounted for almost 95% of BYD’s vehicle sales. In addition to vehicles, BYD derives a chunk of its revenue from mobile handset components, rechargeable batteries, and solar products. The EV maker has also witnessed steady growth in vehicle margin due to an increasing number of deliveries generating cash flows that Nio can use for investments like research and development. The growing universe of EV stocks doesn’t end with carmakers.
Lucid produces luxury EVs, which is a market that could be potentially lucrative one day. With management from Tesla, the company is focused on the higher end of the EV market. This company is one of the leaders in the development of solid-state batteries. The hope is that they can produce them on a mass scale one day.
Tesla stock forecast
That’s significantly higher from 2020 when BEVs accounted for just 2.5% of Volkswagen’s total vehicle sales. In the U.S., Volkswagen sold 37,200 BEVs in 2021, capturing the second-highest share of the U.S. Considering electric cars are the future, these EV stocks are excellent investments to future-proof your portfolio. So, expect them to keep gaining momentum as we enter the new year.
Ford Motor Company
Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector. Tesla’s aggressive expansion strategy, including constructing new factories and developing innovative products, positions it as a long-term contender in the EV market. indicators for swing trading The company is also banking on the delivery of models such as Cybertruck to generate substantial interest. As reported by Finbold, insights from OpenAI’s ChatGPT suggest a positive impact on the company’s stock in the long run once the delivery of Cybertruck picks up.
The company therefore seems fully financed for the next months. With growth in vehicle deliveries coupled with vehicle margin expansion, Nio stock is likely to trend higher. NIO stock, at 5.72% of assets, is the largest EV maker holding in the CHIQ exchange-traded fund. One reason to be bullish on Nio for 2022 is the launch of new models.
It’s also worth noting that various estimates suggest that the industry is poised for healthy growth through 2030. It’s therefore likely that EV stocks will be consistently among the attractive investment themes in the coming decade. However, there is ample headroom for value creation from the sector.
All of these new EV companies need finance to become successful. The equity markets are therefore very important to their growth and sustainability. If you’re looking for more environmentally friendly investment options, you can also explore green stocks. If you’re looking to add EV stocks to your portfolio, you’ll need a brokerage account to purchase them. Setting up an account is relatively easy and takes about 15 minutes. Once you fund an account, you can research EV stocks and invest directly from your brokerage account.