We have been quite saturated with information about everything related to climate change. Such as, the decrease of the carbon footprint, keeping the planet green and a renewable ecosystem. It may be true that these changes don’t happen overnight, but if we don’t want to be left out of the opportunities presented by this energy transition it is certainly important that we take a look at these undervalued EV Stocks.
It appears that with the big companies which came a little earlier we have lost the opportunity to get good returns. But, these three undervalued EV stocks are worthy of researching deeply and considering as a possible investment.
Hyliion (HYLN)
Hyliion (NYSE:HYLN) is a company that specializes in providing electrified powertrain solutions for Class 8 commercial semi-trucks. They’re all about developing and manufacturing hybrid systems and complete vehicles that offer sustainable and efficient transportation options.
In the first quarter of the fiscal year 2023, HYLN generated $310,000 in revenue from delivering their hybrid systems and complete vehicles. However, they also had operating expenses totaling a substantial $31.9 million in that same period. But don’t worry, they still had a remaining capital of $385 million.
Now, let’s get to the exciting part. Hyliion recently unveiled their Hypertruck KARNO demonstration vehicle at the Advanced Clean Transportation Expo. This incredible vehicle showcased an innovative powertrain that combines an electric range extender with the ability to be fueled by both hydrogen and natural gas. This breakthrough is a game-changer for the industry and really demonstrates Hyliion’s commitment to sustainable transportation.
Li Auto Inc (LI)
Li Auto Inc. (NASDAQ:LI) is a leading company in China’s new energy vehicle market. They’re known for their cutting-edge smart EVs that are designed, developed, manufactured and sold by the company. What sets Li Auto apart is their focus on creating extended-range EVs, which combine the benefits of electric power but with the longer range often enjoyed by traditional combustion engine vehicles.
In the first quarter of 2023, Li had some exciting news to share. They reported robust financial results, with their vehicle sales reaching an impressive 18.33 billion Chinese Yuan (RMB), equivalent to about $2.67 billion. That’s a remarkable increase of 96.9% compared to the same period last year. Their total revenues for the quarter amounted to 18.79 billion RMB, approximately $2.74 billion, showing a remarkable year-over-year growth rate of 96.5%.
Li Auto announced that they reached a significant milestone in June 2023 by delivering a whopping 32,575 vehicles. This marks the first time Li Auto has exceeded the monthly delivery mark of 30,000. Moreover, in the second quarter of 2023, Li Auto delivered a total of 86,533 vehicles. This is an outstanding growth rate of 201.6% compared to the same period last year. Li Auto is one of the undervalued EV stocks to keep tabs on.
Stellantis (STLA)
Stellantis (NYSE:STLA), a global automotive company formed through the merger of Fiat Chrysler Automobiles and Groupe PSA. It is one of the world’s largest automakers, with a wide range of brands.
In Q1 2023 STLA reported a 14% increase in net revenues compared to the same period in 2022. This growth was primarily driven by higher shipments and strong net pricing. The company experienced a 7% increase in consolidated shipments, attributed to improved semiconductor order fulfillment compared to the first quarter of 2022.
Stellantis also announced the payment of an ordinary dividend of 1.34 Euros (€) per share. This was approved at the Annual General Meeting and delivered to shareholders on May 4, 2023. Additionally, the company initiated a €1.5 billion share buyback program, with the first part of €500 million expected to be completed in June 2023.
In other news, Stellantis has signed a rare earth terms agreement with NioCorp Developments Ltd. (NASDAQ:NB). This partnership aims to establish a definitive agreement for the supply of rare earth metals.
As of this writing, Gabriel Osorio-Mazzilli did not hold (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.
