Are These The Best EV Stocks To Invest In Today?
While investors are wondering when will stocks recover from the current downturn in the stock market, electric vehicle (EV) stocks may be worth considering. This could be the case as EV stocks among other supposed high growth names continue to feel the pinch. For the most part, investors turning towards the top EV players in the market would not be all that surprising. After all, EVs are likely the next frontier of the automotive industry now. This is apparent with the current race against the clock to mitigate the effects of global warming. As such, those looking to electrify their portfolios may see an opportunity now with the sector seemingly taking a breather.
For instance, we could take a look at the likes of Lucid (NASDAQ: LCID) and Nikola (NASDAQ: NKLA). To begin with, Lucid recently made waves in the stock market despite concluding the lockup period for a majority of its PIPE investors. This comes alongside news of Saudi Arabia’s sovereign wealth fund reportedly looking to stick with Lucid long term. Furthermore, electric truck manufacturer Nikola is now working with Proterra (NASDAQ: PTRA), an automotive and energy storage tech company. Through the current deal, Nikola now has a long-term supply of batteries for its electric semi-trucks.
All in all, the EV industry remains as busy as ever. This is evident even with the general turbulence in the stock market today. With all that said, could one of these EV stocks be trading at attractive values for you?
Top EV Stocks To Buy [Or Sell] Ahead Of February 2022
- Ford Motor Company (NYSE: F)
- General Motors Company (NYSE: GM)
- Nio Inc. (NYSE: NIO)
- Li Auto Inc. (NASDAQ: LI)
Ford Motor Company
Automotive giant Ford has been continuing to push into the EV space. Through Ford+, the company’s plan for growth and value creation combines its existing strengths, new capabilities, and innovation. In fact, Ford expects about 40% of its global vehicle volume to be all-electric by 2030. It also has planned electrification spending of over $30 billion by 2025. This would include the development of its IonBoost batteries. F stock currently trades at $22.34 as of 12:54 p.m. ET has more than doubled in valuation in the past year alone.
Earlier in the week, the company announced that together with ADT (NYSE: ADT), they will invest in a new joint venture called Canopy. Canopy will provide AI-powered connected security cameras and a corresponding mobile app for a variety of vehicle makes and models. The company also recently announced that it will record a gain of $8.2 billion on its investment in Rivian Automotive (NASDAQ: RIVN), following the latter’s blockbuster market debut in November last year. Ford is an early investor in Rivian and currently owns about 12% of the company. Given this piece of news, is F stock worth investing in today?
[Read More] Top Stock Market News For Today January 20, 2022
General Motors Company
Following that, we have General Motors, a multinational automotive manufacturing company that is also one of the largest in the world. The company is also focused on an all-electric future, with its Ultium battery platform that will power everything from its mass market to high-performance vehicles. It also has a security services company called OnStar Corporation that provides subscription-based communications, in-vehicle security, and emergency services. GM stock currently trades at $56.54 as of 12:54 p.m. ET.
On Wednesday, it announced plans to broaden electrification and this includes expanding its fuel cell technology beyond vehicles. In detail, General Motors announced new commercial applications of its Hydrotec fuel cell technology. It will primarily move from just powering vehicles to power generation. These fuel cell generators could potentially replace gas and diesel-burning generators with fewer emissions at worksites, buildings, and data centers among others. The company is also working with Renewable Innovations on the Empower rapid charger that will help retail fuel stations add more affordable DC fast-charging capability. With that in mind, is GM stock a top EV stock to buy?
Nio is a premium EV company in China’s growing EV market. It designs, manufactures, and sells its vehicles that are packed with next-generation technologies in artificial intelligence, autonomous driving, and connectivity. It also continues to redefine the user experience with its innovative charging solutions and other user-centric service offerings. NIO stock currently trades at $30.29 as of 12:54 p.m. ET. On January 1, 2022, the company reported its fourth-quarter and full-year delivery update.
Diving in, it reported 10,489 vehicles delivered in December 2021, increasing by 49.7% year-over-year. It also delivered 91,429 vehicles in 2021 in total, more than doubling compared to a year ago. Furthermore, cumulative deliveries of its ES8, ES6, and EC6 as of December 31, 2021, reached 167,070. Last month, the company also launched the ET5, a mid-size premium smart electric sedan at its NIO Day 2021. Deliveries will commence in September 2022. In addition, the Company expects to begin the delivery of the ET7, a flagship premium smart electric sedan, in March 2022. All things considered, is NIO stock worth adding to your portfolio right now?
Li Auto Inc.
Speaking of China-based EV makers, Li Auto is another name to consider in the market now. For now, Li Auto’s first and only model is the Li ONE, a six-seat, smart electric SUV. As it stands, LI stock currently trades at $29.99 as of 12:55 p.m. ET. Even with the company’s shares trading in the red year-to-date, Li Auto continues to impress on the operational front. Evidently, the company reported stellar figures in its latest monthly delivery update.
Overall, Li Auto’s deliveries for December 2021 add up to a whopping 14,087 units. This would mark a massive year-over-year leap of 130%. Not to mention, the company also set another record for monthly deliveries. For reference, this brings Li Auto’s total deliveries for the fourth quarter up to 35,221, a 143.5% year-over-year hike. Commenting on all this is co-founder and president of Li Auto, Yanan Shen. After commending the Li Auto team on another record month, Shen also highlighted the firm’s latest software update. Accordingly, this is the OTA 3.0 update that Li ONE users received in December. Through this update, Li Auto customers gain access to its full-stack, proprietary Navigation on ADAS. After considering the company’s current momentum, would LI stock be a top buy for you?
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