Electric vehicles keep cruising ahead. Sure, EV stocks have not escaped the broader market rout that started this year, but the correction has rendered the valuations of most stocks attractive. The fundamental outlook is also promising, given expectations for a faster rate of EV adoption the world over, underpinned by a host of factors.

Supportive regulatory measures born out of the intent to keep environmental pollution in check have all along driven EV growth. Governmental actions manifest in two different forms. First, zero-emission mandates are put in place with a decarbonization agenda in mind. Secondly, incentives are offered to make these green-energy vehicles affordable to buyers.

A decline in the cost of EV ownership is another pulling factor. Battery cost accounts for the bulk of EV prices. Declining battery cost is critical for EVs to attain sticker-price parity with gas-powered vehicles, according to Cathie Wood’s Ark Invest. The investment firm also said:

“EV production costs and sticker prices are likely to drop below those of gas-powered vehicles in the next one to two years and undercut them by 25-35% in 2025.”

Prices of lithium-ion battery packs have plummeted 89% in real terms from $1,200 per kilowatt-hour (kWh) in 2010 to $132 per kWh in 2020, according to BloombergNEF 2021 Battery Price Survey. Prices are expected to go down below $100 kWh by 2024, helped by new cell chemistries and improved equipment and technology.

If legacy automakers successfully transition toward EVs, ARK Invest sees global battery electric vehicle (BEV) sales increasing about 8X — from 4.8 million in 2021 to 40 million by 2026.

Another factor that could work in favor of EV adoption is the increased competition and investment in the sector. Global automakers, including the traditional ones, are expected to spend a combined $515 billion on battery technology and EVs over the next five to 10 years.

With the mushrooming of EV stocks, customers now have a variety of products to choose from. Global EV market leader Tesla (NASDAQ:TSLA) may have confirmed that it may not have a new model out on the market this year but there are a slew of other options.

The following are some much-awaited EV stocks with new products lined up for 2022:

• Ford (NYSE:F): F-150 Lightning
• Fisker (NYSE:FSR): Ocean SUV
• Rivian (NASDAQ:RIVN): R1S SUV
• NIO (NYSE:NIO): ET7/ET5
• Lucid (NASDAQ:LCID): Air Sedan
• Toyota (NYSE:TM): Bz4X
• BMW (OTCMKTS:BMWYY): iX M60

EV Stocks: Ford (F) F-150 Lightning

The Ford F-150 Lightning pickup truck is the electrified version of Dearborn’s best-selling F-series truck. The company is planning to launch the vehicle in spring 2022.

Ford CEO Jim Farley said on the fourth-quarter earnings call:

“We plan to take full advantage of our first-mover position in the fully electric pickup truck market, starting with Lightning.”

Underlining the firm demand for the F-150 Lightning, Farley said if Ford were to have enough capacity to meet the current demand for the truck, it would give Tesla’s Model Y SUV a run for its money in the U.S.

Ford said in December that it has closed preorders for the truck after receiving nearly 200,000 reservations.

The base model, the F-150 Lightning Pro, with a standard range battery gives an estimated range of 230 miles, based on EPA standards. The base variant has a starting price of $39,974. The price of the XLT variant with a standard range battery is $52,974, which increases to $72,474 with an extended range battery.

With Tesla’s Cybertruck delayed and Rivian still facing teething problems, if Ford can ramp as per plan, the vehicle could place the company firmly on fast track on the EV super highway.

Fisker (FSR) Ocean SUV

Fisker, co-founded by former Aston Martin executive Henrik Fisker, is inching closer to delivering its all-electric Ocean SUV. The company confirmed last week it will debut its flagship EV brand at the Mobile World Congress in Barcelona, scheduled between Feb. 28 and March 3.

Deliveries would begin in some European countries and in North America soon after the start of production in November, the company added.

The base variant of the Ocean SUV has a starting price as low as $37,499, and it promises a range of 250 miles. The Fisker Ocean Ultra trim that comes with an-all wheel drive and hyper-range battery gives a range of 340 miles. It is priced at $49,999. The higher-end Fisker Ocean Extreme and the exclusive, launch-edition Fisker Ocean One are both priced at $68,999.

The competitive pricing is made possible due to the cheaper battery chemistries. Fisker has a deal in place with Chinese battery giant CATL for the cheaper lithium-iron-phosphate batteries. The second chemistry would be nickel-manganese-cobalt (NMC) batteries.

The vehicle will be pitched against Tesla’s Model Y SUV, which is expected to be the best-selling EV of 2022 and has a price of $48,490 for the base model. If Fisker can deliver on its promise of a very competitive offering, the shares could be well-positioned for a takeoff after a volatile 2021 and a lackadaisical start to 2022.

EV Stocks: Rivian (RIVN) R1S SUV

Rivian is preparing for a back-to-back launch. After the late-2021 launch of its R1T pickup truck, the company is all set to begin deliveries of its R1S SUV in 2022. The company said in a tweet on Dec. 20 that it had delivered two R1S SUVs the previous week, one to its CEO RJ Scaringe and another to its CFO Claire McDonough.

Although theoretically deliveries have begun, wider availability to customers will happen only this year. The company could shed more light on the ramp in its fourth-quarter earnings release due on March 10.

By the time the R1S volume production gets going, it could be entering a crowded field. Its success largely hinges on how well Rivian can execute on its production plan amid the supply challenges.

The company fell short of its production target for the R1T pickup truck in 2021. As opposed to the 1,200-unit guidance it issued, the company could roll out only 1,015 vehicles.

The adoption of the R1S SUV will also depend on how well it can differentiate itself from competition. The SUV will have an estimated EPA range of 316 miles, with the starting price fixed at $70,000. Rivian is continuing to take reservations for the base model, the Explorer Package, as well as the Adventure Package, priced at $75,500.

Reservations for the Launch Edition, also priced at $75,500, are full, the company said on its website.

Nio (NIO) ET5/ET7 Sedans

2022 is seen by analysts and investors alike as a breakout year for Nio stock after a year of underperformance. The comeback thesis is premised on the two sedan models the company will begin to deliver this year.

Nio unveiled its first-ever sedan model, the ET7, in January 2021, and later in December at the Nio Day 2021, it confirmed mass production of the ET7 is going smoothly and that deliveries will begin on March 28. The company also unveiled the ET5 at the event and began accepting preorders immediately after.

The ET5 is touted to be Tesla Model 3 killer and has become a rage since its announcement. Nio’s CEO William Li said at a media event that the ET5 has become the most preordered Nio vehicle ever.

Analysts are optimistic of Nio’s stock trajectory in 2022. Out of 11 analysts rating Nio stock, 10 have buy rating and one remains sidelined, according to data compiled by TipRanks. The average analysts’ price target is $59.27, suggesting roughly 144% upside from current levels.

Credit Suisse analyst Bin Wang projects Nio’s sales volume to jump from 91,429 units in 2021 to 150,000 units in 2022. The analyst attributed his optimism to the Chinese company’s penetration into the sedan segment.

Nio is also planning to sell the ET7 sedan in Norway, which is its first overseas stop.

EV Stocks: Lucid (LCID) Air Sedan

Lucid and Rivian have been panned for the frothiness in their stocks despite both remaining largely pre-revenue companies. Lucid began customer deliveries of its flagship Lucid Air Dream Edition sedan on Oct. 30 at the Dream Delivery event held in California.

The company promotes the Lucid Air sedan as “the longest range, fastest charging luxury electric car in the world.” The Lucid Dream Edition Range has received an official EPA rating of 520 miles, over 100 miles more than the range of Tesla’s Model S sedan, which is seen as its closest rival. The base version has a price point of $169,000.

The cheaper Grand Touring and Touring are priced at $139,000 and $95,000, respectively.

In mid-November, MotorTrend announced the Lucid Air sedan as the “2022 Car of Year,” from among a pool of 24 vehicles from major automakers. Rivian said in its third-quarter earnings report released in mid-November that customer reservations for the car rose to 13,000 in the third quarter, which has since then increased beyond 17,000. The company also said it expects to launch the Grand Touring, Touring and Pure versions of the Lucid Air through 2022.

Customers who have already taken deliveries of the Air sedan, however, have complained of the exclusion of some driver-assist features. With the necessary software and hardware already installed, the company implied the system would be activated through over-the-air updates.

Tesla CEO Elon Musk’s assertion that “prototypes are easy, volume production is hard” rings in true here. Lucid could make serious inroads into the luxury segment if it can execute on its strategy.

Toyota (TM) Bz4X

Toyota, which is the most valued among traditional automakers, has been late to the BEV party. While nimble EV startups bet big on BEVs, the Japanese auto giant had all along promoted plug-in hybrids and hydrogen fuel-cell cars. It was only recently that Toyota realized it cannot turn a blind eye to the BEV opportunity.

Toyota’s President Akio Toyoda spelt out the company’s BEV vision in a media briefing in mid-December. The company plans to sell about 3.5 million BEVs by 2030 across about 30 BEV models, including both Toyota and Lexus brands. The company also pledged about $70 billion toward electrification.

The Japanese company plans to deliver Bz4X, the first BEV it is manufacturing along with Subaru, to customers shortly. The SUV comes in two variants, namely a front-wheel drive and a four-wheel drive, with estimated ranges of 311 miles and 286 miles, respectively. The company said it will begin deliveries of this model in all regions in mid-2022.

The Bz4X will be pitched against Tesla’s Model Y SUV, Ford’s Mustang Mach-E and Volkswagen (OTCMKTS:VWAGY)’s entry-level ID.4 EV.

EV Stocks: BMW (BMWYY) iX M60

The last of these EV stocks, German automaker BMW, says its upcoming iX M60 combines the best of the worlds of the BMW i, the BMW X and the BMW M GmbH. It has a range of 352 miles, based on WLTP test cycle. BMW plans a global market launch in June 2022.

BMW showed off the iX M60 at the Consumer Electronics Show in Los Angeles earlier this year. It will be the company’s third variant of the iX series after the xDrive40 and xDrive50. The pricing of the iX M60 is expected to be around $200,000. This model may just be right for those looking for a premium EV with the best of technology and features.

BMW’s overall vehicle sales rose 8.4% to 2.52 million vehicles in 2021, with its fully electric vehicle sales jumping 133.2% 103,855 units. Pieter Nota, board member of BMW said in a statement in mid-January:

“In 2022 we want to continue our profitable growth and we will systematically expand our range of fully-electric vehicles. We have set ourselves particularly ambitious growth targets in this area and aim to more than double our sales of fully-electric vehicles from last year.”

By 2030, the company expects about 50% of its global sales to come from EVs.

On the date of publication, Shanthi Rexaline did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Shanthi is a contributor to InvestorPlace.com as well as a staff writer with Benzinga. Equipped with a Bachelor’s degree in Agriculture and an MBA with specialization in finance and marketing, she has about two decades of experience in financial reporting and analysis, and specializes in the biopharma and EV sectors.