Electric vehicles (EVs) are revolutionizing the automotive industry, offering a more environmentally friendly alternative to traditional gasoline-powered cars. EVs use electric motors and rechargeable batteries instead of internal combustion engines. This makes them significantly more efficient and produces fewer emissions. As countries around the world set increasingly ambitious targets for reducing carbon emissions, many investors are looking to electric vehicle stocks as a potential opportunity for growth and profit.
Investing in electric vehicle stocks can be a high-risk, high-reward proposition. A number of the companies in this space are relatively new. As a result, they have yet to establish a track record of sustained profitability. However, the potential rewards for successful companies can be significant, with the potential to capture a significant share of a rapidly growing market.
As the world continues to transition to electric vehicles, companies that are able to innovate and establish a competitive advantage may be well-positioned to generate significant returns for investors. It is important to conduct thorough research and evaluate individual stocks carefully to ensure that they are a good fit for your investment goals and risk tolerance. That said, here are two EV stocks to watch in the stock market now.
Electric Vehicle Stocks To Watch Now
Tesla (TSLA Stock)
First up, Tesla (TSLA) is a sustainable energy company that operates on a vertically integrated business model. The company strives to accelerate the transition to electric mobility through the manufacturing of electric vehicles. Tesla also sells solar panels and solar roofs for the generation of energy, as well as batteries for stationary storage in residential, commercial, and utility properties.
This month, Tesla announced that it produced more than 440,000 vehicles and delivered over 422,000 vehicles in the first quarter of 2023. The company also revealed that it is transitioning towards a more balanced regional mix of vehicle production, including Model S/X vehicles en route to EMEA and APAC. Tesla will release its financial results for the first quarter of 2023 after the market close on Wednesday, April 19, 2023.
In 2023 so far, shares of Tesla stock have increased by 73.12% year-to-date. Moreover, on Tuesday, TSLA stock opened higher on the day by 1.49% at $187.26 a share.
Ford Motor Company (F Stock)
Second, Ford (F) is a traditional automaker that has been investing heavily in electric vehicle technology in recent years. The company has launched several electric vehicles, including the Mustang Mach-E electric SUV, and has plans to release several more in the coming years.
Last week, Ford Motor Company reported its second quarter 2023 dividend. In detail, the company’s Board of Directors declared a Q2 2023 dividend of $0.15 per share on common stock. What’s more, the dividend is payable on June 1, 2023, to stockholders of record on April 26, 2023. As a result, Ford Motor Company offers an annual dividend yield of 4.66%.
Year-to-date, shares of Ford stock have surged by 10.23%. Meanwhile, during Tuesday’s mid-morning trading session, F stock is trading higher on the day by 1.22% so far at $12.88 a share.