The electric vehicle (EV) sector is undoubtedly a very new area for us today, but that does not mean it is not a completely profitable sector for us as investors. Of course, being a new sector in the market may mean we incur risks from unknown companies or perhaps those just starting. But if you are here reading this, don’t worry — I’ve got you covered. Here are three Top EV stock picks worth a look. Let’s start.

XPeng (XPEV)

XPeng (NYSE:XPEV), a leading Chinese EV manufacturer, is becoming an interesting addition to investment portfolios. Its specialty is producing Smart EVs, equipped with cutting-edge technology for smart-connected driving. What makes the company stand out is its impressive growth and commitment to responsible business practices.

In Q2 2023, it reported the delivery of 23,205 vehicles, demonstrating strong demand with a 27.3% increase over the previous quarter. Its network includes 411 physical stores and 1,024 charging stations, indicating its commitment to infrastructure investment.

Important recognition came from MSCI, which awarded XPeng an ESG “AAA” rating for its exceptional management of environmental, social and governance risks and opportunities. That achievement underscores XPeng’s dedication to high ESG standards and ethical business practices.

In addition, in September 2023, the company recorded substantial growth, with 15,310 Smart EVs delivered, an increase of 12% over the previous month and an impressive 81% increase year-on-year. Its G6 model also performed well, with 8,132 units delivered in September, contributing to a 72% increase in Smart EV deliveries in the third quarter compared to the previous quarter.

Also, XPeng is advancing on the global stage with the delivery of its XPENG G9 model in several European countries, demonstrating its ambition to compete in the global EV market.

LiveWire Group (LVWR)

LiveWire Group (NYSE:LVWR), Inc. is a leading company in the world of EVs, focused on the manufacture and sale of electric motorcycles and related products. In its recent Q3 2023 report, the company highlighted a major milestone — the launch of the Del Mar. That product is LiveWire’s S2 platform electric motorcycle, with internally developed components such as battery, power electronics, motor and software. That allows motorcycle enthusiasts to join the LiveWire community at a price 35% lower than previous models while maintaining premium quality.

In financial terms, the company had a decline in consolidated revenues of 45% in the third quarter, mainly due to a 73% drop in electric motorcycle sales. However, it managed to reduce its net loss by 30%, thanks to non-operating income related to the market value of options and interest income.

The company is divided into two main segments, electric motorcycles and STACYC, which focuses on electric balance bikes for children. In addition, LiveWire announced the introduction of the S2 Del Mar in the European market, with specific pricing details for different countries. It also introduced the LiveWire ONE in four European markets — a product with an impressive range and advanced safety features.

Li Auto (LI)

Li Auto (NASDAQ:LI) is a major player in the Chinese EV market, known for its innovative extended-range electric powertrains. LI has been making waves in the industry, and the second quarter of 2023 showed its remarkable financial performance. Vehicle sales were up 229.7% compared to the same period in 2022, reaching approximately $3.86 billion. Its vehicle margin was solid at 21.0%, and total revenue was around $3.95 billion, a year-on-year increase of 228.1%. Gross profit, operating income and net income all saw substantial increases, underscoring its impressive growth.

But it’s not just about numbers, it’s about results. In August 2023, Li Auto delivered a staggering 34,914 vehicles, a year-on-year increase of 663.8%. What’s even more impressive is that each of its Li L-series models had monthly deliveries in excess of 10,000 vehicles. That demonstrates the growing demand for its products in China’s ever-expanding electric vehicle market.

In addition, at its annual general meeting. Li Auto received shareholder approval for crucial resolutions, consolidating its strategic plans and leadership. Those included the amendment and update of its articles of association, the re-election of key directors, and authorization to issue and repurchase shares.

Li Auto’s stellar financial results, remarkable sales growth and strong shareholder support position it as an attractive option for investors looking to tap into the burgeoning EV sector.

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.