It’s been a tough year for automotive technology fans from coast to coast with the cancellations of both the New York and San Diego auto shows. One of the country’s most important auto events, though, hasn’t been cancelled and is about to be underway. The LA Auto Show 2021 will taking place from Nov. 19 to 28. While some of the field’s most prominent names, such as Audi and Cadillac have decided to skip the show, many electric vehicle (EV) producers are seizing upon the opportunity to unveil what promise to be some of the hottest new vehicles of the coming year. This type of exposure promises to be good news for the investors behind these companies.
What to Expect From the LA Auto Show 2021
The year’s event promises many noteworthy names with exciting developments. Bloomberg reports that BMW will be showing its latest project, a “high-powered, hybrid-electric concept vehicle” to a select group of reporters after the show has closed. Additionally, one exciting new feature that fans can expect from the LA Auto Show 2021 is the debut of the ZEVA (Zero Emission Vehicle Award) program. These awards are specifically designed to highlight the companies making notable advances in the EV sector. The show hasn’t started yet, but the winners have already been announced. Followers of popular EV stocks will recognize many names on the list, and their investors should be pleased.
Let’s take a look at five stocks that could get a boost thanks to the LA Auto Show 2021. The event comes at a good time, as some of these names have seen shares fall recently.
5 EV Stocks to Watch
Rivian (NASDAQ:RIVN). The hottest IPO (initial public offering) of the season, Rivian has kept Wall Street on its toes since its record-setting debut. Shares have recently cooled off, falling 15% so far today, but the company has plenty to be happy about. The Rivian R1Sis a finalist for the ZEVATM Award for Top Sports Utility EV SUV spot. The R1T has already been awarded the ZEVA for the truck category.
Lucid (NASAQ:LCID). The Lucid Air has made plenty of headlines this year as Lucid has rolled out vehicles, so it’s hardly surprising that it would take home the ZEVA for the Sedan category. Given the competition within that section of the EV sector, the accomplishment is particularly impressive. The company was also recently named Car of the Year by MotorTrends.
Fisker (NYSE:FSR). For this Southern California-based EV producer, the LA Auto Show 2021 brings plenty of good news. Fisker debuted the concept version of its Ocean SUV in early 2020. And at this year’s show, it will be showing attendees the production intent version of the same vehicle. The Fisker Ocean has already received some praise after being awarded the ZEVA award for the Crossover in the category of $50,000 and below.
Mullen Automotive (NASDAQ:MULN). This EV maker is also based in Los Angeles. Today actually marks its trading debut, but that’s not the only debut that investors should be concerned with. The LA Auto Show 2021 will mean the debut of the FIVE electric SUV, a vehicle that has been awarded the ZEVA for SUV category. It’s trading well so far, up 7% for the day. The vehicle’s debut at a top industry event will likely mean further gains.
EdisonFuture (NASDAQ:SPI). This is one company that didn’t receive any ZEVA awards but still has plenty to be excited about, as do its investors. EdisonFuture is a Chinese EV producer owned by renewable energy conglomerate SPI Energy. The LA Auto Show 2021 will see it reveal both an all electric van and truck, titled the EF1-V and EF1-T. Despite initial concerns that this foray into the EV space might be ill-fated, SPI stock has enjoyed an excellent season, rising 15% for the day and 46% for the week. These growth trends are very likely to continue into this week as the show takes off.