Best Electric Vehicle stocks to own

 

Best Electric Vehicle stocks

 

Best Electric Vehicle stocks to own: Electric vehicle (EV) stocks are likely to benefit from rising global demand

 

Electric Vehicle stocks: Revenue grows as international expansion continues.

Best Electric Vehicle stocks to own

Li Auto (LI): Despite the recent resurgence of the pandemic in China, Li Auto is one of the leading 10 EV names in China.

Nio (NIO): Although the U.S. Stocks in the U.S. are at risk of delisting, and expanding global operations.

Tesla (TSLA): To address supply chain issues, Tesla is recycling and producing certain materials and parts.

Workhorse (WKHS): Management is confident that the workhorse will meet production goals.

The disruptive EV industry is partly driven by environmental concerns. As the Paris Agreement requires, many countries have agreed to bring their greenhouse gas (GHG) emissions levels down to zero by 2050. US Recent metrics from the Environmental Protection Agency suggest that transportation is the largest source of GHG, with a 27% share. Readers of InvestorPlace.Com should know that petroleum-based liquids such as petrol and diesel comprise approximately 90% of the energy source in transportation.

 

In addition to environmental initiatives, the current war in Ukraine has put alternative energy sources and electric vehicles into the limelight. Energy costs have been rising in recent months. Although not as tragic as the gas shortage in the 70s, today's unrest in Eastern Europe has put considerable pressure on oil supplies and prices.

 

According to Allied Market Research: "The global electric vehicle market was valued at $163.01 billion in 2020, and is projected to reach $823.75 billion by 2030, registering a CAGR of 18.2% from 2021 to 2030."

 

Still, despite potential growth in the sector, the S&P Kensho Electric Vehicles Index declined 32.7% year-over-year (YTD) and 33.4% over the 12-month period. Therefore, many electric vehicle stocks now offer better value.

 

With that information, I've compiled a list of the five best electric vehicle stocks worth your attention:

 

BLNK Blink Charging Company $16.69 LI Li Auto Inc. $24.39 NIO NIO Inc. $16.55 TSLA Tesla, Inc. $742.94 WKHS Workhorse Group Inc. $3.02 Best Electric Vehicle Stocks: Blink Charging (BLNK)

Blink Charging (NASDAQ: BLNK) provides charging equipment and services. In other words, although it does not manufacture EVs, it still holds an important position in the industry.

 

Blink Charging released its first quarter (Q1) results on May 9. Revenue came in at a record high of $9.8 million, up 339% year-on-year (YOY). Net loss for the quarter was 36 cents per share compared to 18 cents for Q1 FY21. Cash and marketable securities totaled $161.9 million as of March 31.

 

Management believes that the company is well on its way to expanding its operations across the globe.

Despite the increase in revenue, BLNK stock is down 38.1% YTD and 52% over the 12-month period. Meanwhile, the shares are trading at 29.2 times sales. Currently, the 12-month average price forecast for BLNK is $25.

 

Lee Auto (LI)

The next stock on the list, Li Auto (NASDAQ: LI), is a major player in China's EV market. It relies on its proprietary internal combustion engine range extender to appeal to a broader customer base. Li Auto is one of the top 10 EV manufacturers in China, topping the list of GHG emissions

Recent research by Modern Intelligence suggests that the national market may grow at a compound annual growth rate (CAGR) of over 30% between 2022 and 2027.

 

Li Auto announced unaudited Q1 results on 10 May. Revenue came in at RMB 9.31 billion - or $1.47 billion - up 168.7% from RMB 3.46 billion a year ago. Meanwhile, the non-GAAP diluted loss per share was 7 cents.

Despite the resurgence of the COVID-19 pandemic in China, investors are looking forward to the launch of the new line L9 in Q3.

 

LI stock is down 17.6% YTD but is up 20% over the 12-month period. Shares are changing hands at 4.32x sales. Meanwhile, the 12-month average price forecast for Lee Auto is $33.36.

 

Best Electric Vehicle Stocks: Nio (NIO)

differentiates itself with battery swapping and autonomous driving technology.

 

Nio released the unaudited results for Q4 FY21 on March 24. Total revenue came in at 9,900.7 million RMB - or $1,553.6 million - 49.3% YOY. Adjusted diluted net loss was 16 cents per share. Cash and equivalents totaling $2,406 million.

 

Management noted that ES8, ES6, and EC6 deliveries totaled 9,652 vehicles in January and 6,131 vehicles in February, up 33.6% and 9.9% YOY, respectively.

 

Readers of InvestorPlace.Com will remember that the US Securities Exchange Commission (SEC) has added dozens of companies

List of companies that You may face expulsion from exchanges. Most Chinese companies on the list

companies, including Nio, as well as its rivals, Lee Auto and XPeng (NYSE: XPEV).

 

As a result, NIO stock has lost almost 50% YTD. Shares are trading at 3.91 times forward sales and the 12-month average price forecast for Nio stock is $30.87.

 

Tesla (TSLA)

Next up is Tesla (NASDAQ: TSLA), possibly the best-known EV maker. This EV pioneer has disrupted the traditional automotive industry, encouraging other players to incorporate EVs into their product lines.

 

Tesla reported Q1 results in early April. Revenue grew 81% year-on-year to $18.75 billion. Adjusted earnings per share were $3.22, up 246% from the year-ago period. FCF was $2.2 billion.

Despite global supply chain issues, management is keen to increase capacity. To overcome some of these obstacles, Tesla is producing and recycling essential parts and materials.

 

As with most other EV stocks, TSLA stock is down 29% YTD, but still up 16.46% over the 12-month period. The shares are trading at 61.7 times forward earnings and 14.37 times forward selloff. The current 12-month average price forecast for Tesla stock is $1,125.

 

Best Electric Vehicle Stocks: Workhorse (WKHS)

The last EV stock on our list is Workhorse (NASDAQ: WKHS)

We should remind readers that Workhorse is still a pre-revenue EV name.

 

Workhorse reported Q1 results on May 10. The net loss was $22.1 million. Cash and equivalents totaling $167 million.

Management believes that it is meeting various milestones well. It expects to start production of Class 4 vehicles in the third quarter. Production of Class 5 and 6 delivery vans and trucks is expected to begin in Q3 2023 and more products may arrive in 2024.

 

Recent research highlights: "The global market for electric commercial vehicles is projected to reach two million units by 2028,

Nonetheless, WKHS stock is down 32% YTD and 63% over the past year. Finally, the 12-month average price forecast for Workhorse is $6. The stock may appeal to potential investors whose portfolios can handle the volatility that comes with pre-revenue EV stocks.

 

At the date of publication, Tezcan Gecgil had no position (either directly or indirectly) in the securities mentioned in this article

Tezcan Gecgil won the U.S. and has worked in investment management in the U.K. for more than two decades. In addition to formal higher education in the field, he has also completed all 3 levels of the Chartered Market Technician (CMT) exam. His passion is for options trading based on the technical analysis of fundamentally strong companies. She especially likes to set up weekly cover calls for income generation.