Electric car stocks are red hot so far as more governments pass mandates to force consumers to drive electric vehicles.
Here's a graph showing the projected growth of EVs in 2040:
Best Electric Car Stocks
Here's a list of the best EV stocks to buy right now:
- Tesla (TSLA)
- Nio (NIO)
- Xpeng (XPEV)
- BYD (BYDDY)
- Workhouse (WKHS)
- Electrameccanica (SOLO)
- Fisker (FSR)
The clear leader in electric cars with a $400 billion market cap and projected 500,000 deliveries in 2020. Strong buy.
Nio has deliveried over 60,000 cars since its inception and is growing in market share throughout China. The company has lots of long term potential and a smart CEO.
Xpeng recently went IPO in August 2020 and deliveried 8,000 vehicles in the most recent Q3. Many Chinese car experts says it's the best overall luxury sedan in China. Lots of growth potential in Europe, too.
Berkshire Hathaway has a major stake in the company and BYD is a diversified solar company, not just cars. Strong buy.
Workhorse recently received a 50,000 C-1000 delivery van contract and is still awaiting the USPS decision. Things are looking better for them, especially if they win the USPS contract.
The first SOLO EV hit American shorts in Q3 2020 and the company has over 75,000 preorders for its flagship, SOLO. The stock is on a recent tear and is still under a $1 billion market cap.
Luxury car designer Henrik Fisker makes a 2nd attempt at competing with Tesla with the recent SPAC-IPO. The Fisker Ocean has 7,000 preorders and the company projects over $12 billion in revenue by 2025.