Here’s a list of EV stocks under $20 that could soar during the electric vehicle revolution.

Best EV Stocks Under $20

• Rivian (NASDAQ: RIVN)
• Lucid Group (NASDAQ: LCID)
• Nio (NASDAQ: NIO)

1. Rivian

Rivian is an American automaker company that specializes in the production of electric vehicles (EVs) and related technologies. It was founded in 2009 by Robert “RJ” Scaringe, who saw a market opportunity in creating a high-performance electric vehicle that would appeal to outdoor enthusiasts and adventure seekers.

Rivian has garnered a lot of attention in recent years, particularly after securing significant investments from high-profile backers such as Amazon and Ford. The company’s flagship product is the Rivian R1T, an electric pickup truck that boasts impressive specs, including a range of up to 400 miles and the ability to accelerate from 0 to 60 mph in just three seconds.

What sets Rivian apart from other EV makers is its focus on adventure and sustainability. The company’s vehicles are designed to handle rough terrain and off-road conditions, making them perfect for outdoor enthusiasts. Additionally, Rivian is committed to using sustainable materials in its production processes, including recycled and bio-based materials.

Overall, Rivian is an innovative company that is poised to disrupt the automotive industry with its cutting-edge technology and sustainable practices.

2. Lucid Group

Lucid Motors is an American electric vehicle manufacturer that was founded in 2007. The company is focused on developing luxury electric vehicles that are both high-performance and energy-efficient. Their first vehicle, the Lucid Air, is a premium electric sedan that is expected to compete with the likes of Tesla’s Model S and Porsche’s Taycan.

The Lucid Air is designed to provide a range of up to 517 miles on a single charge, making it one of the longest-range electric vehicles on the market. The vehicle is also expected to offer impressive performance, with a top speed of over 200 mph and a 0-60 time of under 2.5 seconds.

Lucid Motors has also developed their own proprietary electric powertrain technology, which they believe will set them apart from their competitors. The company has secured significant investment from the Saudi Arabian Public Investment Fund, which has helped them to continue developing their technology and bring the Lucid Air to market.

The Saudi PIF may buyout Lucid shareholders in the future since Ayar Third Investment increased its LCID stake to over 61%. A buyout could help LCID stock soar back to $60 if a LCID short squeeze is triggered.

Overall, Lucid Motors is an exciting company that is well-positioned to make a significant impact in the electric vehicle market. With their focus on luxury and performance, as well as their cutting-edge technology, they are likely to appeal to a wide range of customers who are looking for an alternative to traditional gasoline-powered vehicles.

My 2025 Lucid stock price prediction is $125 and I remain bullish on LCID stock over the next 5 years.

3. Nio

NIO is a Chinese electric vehicle company that was founded in 2014. The company is based in Shanghai, and its mission is to make electric vehicles that are both beautiful and functional. NIO is known for its premium electric SUVs, which are designed to be luxurious and powerful.

NIO’s cars are powered by advanced technology, including the company’s proprietary battery swapping system. This system allows drivers to swap out their car’s battery in just a few minutes, which makes it easier to keep their car charged and ready to go. NIO also offers a range of other innovative features, such as a digital assistant that can help drivers navigate, control their car’s features, and even order food.

In addition to making electric vehicles, NIO is also committed to sustainability. The company has launched several initiatives aimed at reducing carbon emissions, including a program that lets customers plant trees when they buy a car. NIO’s commitment to sustainability and innovation has helped the company become one of the most exciting and forward-thinking electric vehicle companies in the world.

More EV Stock Picks

Be sure to check out our other articles covering EV stocks under $1, EV stocks under $5, EV stocks under $10, and my best overall electric vehicle stock picks.