It wasn’t all that long ago that investors looking to own EV stocks had basically one choice: Tesla (NASDAQ:TSLA). Legacy manufacturers like Ford Motor Company (NYSE:F) and General Motors (NYSE:GM) talked up their electric strategies, but investors fretted that electric sales would simply cannibalize revenues from ICE models. That’s changed quickly. GM in particular has sparked newfound confidence toward its electric strategy. Meanwhile, Tesla has been joined by a number of startups — many with innovative strategies.

Newer players have also appeared. Fisker (NYSE:FSR), for instance, aims to challenge Tesla on the high end. Electrameccanica Vehicles (NASDAQ:SOLO) is producing a three-wheeled vehicle for urban buyers. Canoo (NASDAQ:GOEV), inventor of a unique “skateboard” platform, looks to serve the commercial market. Workhorse Group (NASDAQ:WKHS) is chasing a government contract potentially worth $6 billion or more.

Investors now have a wealth of choices across price points and end markets.

Many EV companies are easily available on U.S. exchanges. But many others aren’t quite as simple to buy. For foreign companies, investors can buy ADRs (American Depositary Receipts) that trade over-the-counter. Examples include Germany’s BMW (OTCMKTS:BMWYY) and China’s BYD Group (OTCMKTS:BYDDF). Some accounts, however, include direct access to overseas exchanges (investors should be aware of tax and commission consequences).

Then there are special purpose acquisition companies (SPACs). Many EV companies have used these entities to go public, a trend started by electric semi manufacturer Nikola (NASDAQ:NKLA). Since then, CIIG (NASDAQ:CIIC) has planned a merger with U.K.-based Arrival, a developer of electric buses and vans. Churchill Capital IV (NYSE:CCIV) is executing one of the largest and most sought-after SPAC mergers in history, raising more than $4 billion for high-end Tesla rival Lucid Motors.

These options mean that investors now have a wide variety of choice in how to buy EV stocks.

One of the more interesting EV stocks is Nio (NYSE:NIO). Often, thought not always accurately, referred to as the “Tesla of China,” Nio is now the most valuable electric automaker in the country. That’s an obviously attractive position to be in. China has aggressively subsidized the industry as it looks to mitigate air pollution and create a domestic manufacturing base.

But there are risks. Notably, Nio is far from alone in targeting the Chinese market. Tesla, for instance, has already opened a production plant in Shanghai. Other homegrown competitors from BYD to Xpeng (NYSE:XPEV) will also for a slice of the pie. As with so many EV stocks, Nio has a massive opportunity. But, it will also need to capitalize on that opportunity to provide the returns investors are hoping for.