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Best Electric Vehicle Stocks in 2021

Electric vehicle stocks have massive growth ahead. Governments worldwide continue to subsidize the industry, lowering the effective price of EVs for consumers. Major corporations, looking for both cost savings and positive press, now are jumping onboard. But investors can’t just buy any EV stock and call it a day. With a combined market capitalization of over $1.2 trillion, the industry could see a shakeout before the end. Picking the right EV stock is paramount — and a challenge.


Data last updated: May 15, 2021 9:40 PM EDT

Ticker
Company Name
Price
% Daily Change
Recent News
BMWYY Bayerische Motoren Werke ADR 34.06 2.68 The Ultimate EV Investing Guide: 23 Electric Car Stocks to Watch
BYDDF Byd CO Ltd H Shs 18.92 4.65 7 Runaway Growth Stocks That Could Be the Next Tesla
CCIV Churchill Capital IV [Lucid Motors] 17.94 4.00 Churchill Capital IV Is Still Expensive Despite the Recent Dip in Its Price
CIIC Ciig Merger Corp Cl A 21.60 - ARVL Stock: 12 Things to Know As EV Play Arrival Starts Trading Today
F Ford Motor 11.84 2.51 7 Hot Stocks To Buy Now For A Summer Of Reopenings
FSR Fisker Inc 10.50 5.53 FSR Stock: The Big Foxconn Deal That Has EV Startup Fisker Driving Higher
GM General Motors 56.00 2.56 -
GOEV Canoo Inc 7.30 2.38 Canoo Is Absolutely a Sell, Based on Persistent Troubles
NIO Nio Inc 33.42 7.05 Keep on Avoiding Nio Stock, as Signs Point to Even Lower Prices
SOLO Electrameccanica Vehs Corp 3.31 8.70 7 Cheap Stocks to Avoid Until the Hype Retreats
TSLA Tesla, Inc. 589.72 3.15 -
WKHS Workhorse Grp 8.10 8.29 4 Top Stock Trades for Tuesday: Dogecoin, TTD, CLSK, WKHS
XPEV Xpeng Inc ADR 25.70 9.08 Look for Xpeng to Reverse to the Upside Next Month

Frequently Asked Questions

1. What are the Best EV Stocks?

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.

2. How to Buy EV Stocks?

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.

3. Is Nio Stock a Good Investment?

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.


Article printed from InvestorPlace Media, https://investorplace.com/best-electric-vehicle-stocks/.

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