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Are you ready for electric car stocks to revolutionize transportation as we know it? Your portfolio had better be.
There was a time not too long ago when Tesla (NASDAQ:TSLA) was the entire electric vehicle market. Now, there are nearly two dozen publicly traded companies savvy investors ought to have on their radar.
What caused electric car stocks to start revving their engines? And where should you start when evaluating this highly competitive sector?
Consumers have become more concerned about environmentalism. At the same time, companies continue rolling out improvements to charging infrastructure and vehicle driving ranges. As demand for EVs grows, a rush of initial public offerings continues to bring new competitors — and a whole lot of profit potential — to the market niche.
According to Qian Yang, a doctoral student at Michigan State University, new attention on electric vehicles will support rapid innovation. This rapid innovation should in turn support investor gains:
“With more players in the market, we can expect cheaper and longer ranging batteries and faster charging. Hopefully we are going to see standardization of charging plugs that will truly enable proliferation of private funded charging stations. All these will drive down the cost of owning EVs.”
The EV market is constantly growing, but right now, these are the 23 electric car stocks to watch:
- Tesla (NASDAQ:TSLA)
- General Motors (NYSE:GM)
- Nikola (NASDAQ:NKLA)
- Fisker (NYSE:SPAQ)
- Ford (NYSE:F)
- Workhorse (NASDAQ:WKHS)
- Lordstown Motors (NASDAQ:DPHC)
- Nio (NYSE:NIO)
- Li Auto (NASDAQ:LI)
- Kandi Technologies (NASDAQ:KNDI)
- Xpeng (NYSE:XPEV)
- BYD Company (OTCMKTS:BYDDF)
- Toyota (NYSE:TM)
- Arcimoto (NASDAQ:FUV)
- ElectraMeccanica Vehicles (NASDAQ:SOLO)
- Amazon (NASDAQ:AMZN)
- Ayro (NASDAQ:AYRO)
- BMW (OTCMKTS:BMWYY)
- Fiat Chrysler (NYSE:FCAU)
- Hyundai (OTCMKTS:HYMTF)
- Honda Motor (NYSE:HMC)
- Hyliion (NYSE:SHLL)
- Canoo (NASDAQ:HCAC)
InvestorPlace has done the hard work for you, sorting through the headlines, product launches and market rallies. This all-encompassing guide to electric car stocks will teach you everything you need to know, whether you want to park your cash in speculative subscription EV services or industry leader Tesla.