There are now over 5.6Million fully electric vehicles on the roads worldwide which is an increase of 64% from the previous year. By 2030 it’s estimated that 24% of global vehicles will be electric vs the current 2%. Tesla led the charge by accounting for 79.5% of the electric vehicles currently on the roads.
The stock market has seen new companies constantly spring up on trading platforms promising big moves to supply charging ports, parts for EV’s, chips and technology to help enhance driver experience but these still account for such a tiny part of the tech sector. The results have so far been mixed but Tesla continues to rise hitting all time highs whilst competitors such as NIO have taken big hits due to failed manufacturing efforts. Some say that Tesla stock is still vastly overpriced but investors are buying into Elon and the future, rather than the actual company valuation and short term efforts.
Here at Tradeback we have found 5 Electric Vehicle company stocks that you need to know:
Tesla TSLA
It wouldn't be an EV list without Tesla at the top of it. Founded by Elon Musk in 2003 the car manufacturing and technology company have gone from strength to strength by offering luxurious cars that offer long battery life, quick charging and even rival the fastest sports cars on the planet with their new Model S having a 0-65mph time of just 1.99 seconds.
Since inception the stock barely made the news until 2020 where it was still valued at under $100 but with mass resurgence, Elons rise to fame and the cars actually being handed over to customers it has now hit all time highs of $1200 which values the company at over $1Trillion.
This is a stock that will be around forever and doesn’t seem to have many competitors yet. It should be part of anyone's portfolio but it comes with high risk and that is Elon Musk. One tweet of his can see this stock spike or sink on any given day plus the worry of what if anything happened to him? Would the company stock half or if not more if he wasn’t the face of the company?
Fuel Cell Energy FCEL
Global leaders in design, manufacturing, operation and the servicing of ultra clean powerplants, FCEL energy are big to be the big company to watch as their plants continue to generate mass amounts of MWH for it’s clients in a cost effective and carbon positive way.
FCEL power plants help supply heating, cooling, hydrogen and electricity which can be used for power grids in cities, manufacturing plants or even entire countries. So far they have generated enough MWH to power 2,816,206 German homes for one year and this is just the beginning.
Their stock price hasn’t been a smooth ride as it once say highs of $30 in early 2021 but shot straight back down to just $8 within 8 months. Currently the stock is up 328% on the year and currently priced at $10.81.
This is a company that will become in higher demand each and every year and if they can deliver on their promises their stock price and company valuation could hit the moon. This is a great time to buy, lock this trade away and reap the rewards after the next decade.
Image courtesy of Finance.Yahoo.com
NIO
NIO is the Chinese version of Tesla who provide what they claim to be the best and fastest electric cars in the world. With currently 5 models to choose from including the NIP EP 9 which is their futuristic supercar, they continue to develop and make sure their customers have plenty of choice to choose from.
Lifetime warranties, roadside rescue and free car connectivity the NIO brand are aiming to give people buying their cars that safe, family feeling which Tesla often fails on. The issue with NIO is they have missed delivering orders due to supply chain issues and the super big problem with the $300B Evergrande debts means that the Chinese market is just not spending as much money as they used to on luxurious items such as cars.
Currently trading at $40 per share the stock has stabilized since it’s fall down from highs of $61. The future is bright for NIO but there is a long way for them to go to catch up to Tesla and the rest of the market.
Plug Power PLUG
Currently trading at $40 per share and on a meteoric rise following the success of Tesla, Plug Power stock is already 103% up so far in the last 12 months. The New York company founded in 1997 developed hydrogen fuel cells that aim to replace conventional car equipment such as batteries and power them with electricity. With all-time highs of $65 there is already a great ROI opportunity in the short term but as long term needs for Hydrogen grows this could be a company that 10X's in value.
Image courtesy of Finance.Yahoo.com
Lucid Motors LCID
An american manufacturer of electric vehicles that was founded in 2007 has hit the ground running since being made public in late 2020. Initial shares were valued at just $9 and are now at $44 with a consistent chart showing continual growth. With a market cap of just $77.44Billion it is still tiny in comparison to Tesla which highlights the potential growth this company can achieve.
Lucid cars are already in production and seen on the roads where their models include the sleek Air Pure and sporty Air Dream Pure.
