Gainy app creates stock lists and categories depending on NASDAQ Composite and other indices, as well as current market information. There is a pool of companies that are always on the list of electric vehicle stocks to buy now. For example, companies from S&P 500 that are stable and present on the market for many years. Some companies are new but have great potential for growth.
Deciding which electric vehicle stocks are the best depends on how you look at it. The market of EVs is still relatively young and has a mix of players—newcomers like Tesla and NIO alongside automotive giants like GM and Ford. The companies listed below are some of the most notable representatives of the EV market. Because this market is very young and not very profitable, these stocks may not bring the desired returns at a time when the market for growth stocks is down, at least in the short term and it may be hard to identify the best electric vehicle stock to buy. But it’s a good idea to keep an eye open for younger and smaller companies, not only Tesla and old-school automotive giants (check out the automotive stocks for companies that are more established and pay dividends), so let’s look at some of the most interesting players in this field.
Some of the most interesting stocks for fans of electric vehicles are Tesla (NASDAQ:TSLA), NIO (NYSE:NIO), Aptiv (NYSE:APTV), Rivian (NASDAQ:RIVN), and Li Auto (NASDAQ:LI).
Tesla
A clear leader in electric vehicles that sold almost 421 thousand units in the first half of 2021. Even though Tesla's stock may be overblown with a price-to-earnings ratio of over 300, the company has everything going for it. They are delivering great products that people love, have a market share of 15% and are building two new huge factories in Berlin and Austin. And the stock price just keeps growing. This might not be the best time to buy Tesla as it's currently at an all-time-high, but it's definitely a stock to watch.
NIO
A Chinese electric vehicle maker and one of the most high-profile Chinese stocks on the US market. NIO makes a range of EVs, including a sedan, three SUVs and the stunning electric sports car, EP9. The company already delivered over 42,000 vehicles in the first two quarters of 2021. NIO is unlikely to gain so much publicity as Tesla gets thanks to Elon Musk, but it still looks like one of the best electric vehicle stocks to invest in.
Aptiv PLC
Aptiv is the only company in this list that's not a car manufacturer. It's a technology firm that creates products and solutions for electric vehicles, such as advanced driver assistance systems, computers and high-voltage cabling. The stock is showing great momentum and has grown by almost 30% since the beginning of 2021, and is one of the best electric car stocks to buy now.
Rivian
Rivian is a US maker of electric vehicles and EV technology founded in 2009. Rivian is working on three electric vehicles: the R1S, a sports utility vehicle (SUV), the R1T, a pickup truck, and an electric delivery van currently being developed in partnership with Amazon. In late 2021, Rivian started delivering the R1T, while the other two models remain in development. The company also has plans to build a charging network in the US and Canada by the end of 2023.
Li Auto
Li Auto is a Chinese manufacturer of electric vehicles with headquarters in Beijing. The company is listed on the Hong Kong Stock Exchange (SEHK) and on Nasdaq. Li Auto was founded by Li Xiang, a serial entrepreneur and visionary who has been dubbed the “Chinese Elon Musk.” The company had a successful IPO in 2020, raising $1.1 billion. The company currently sells one model — the Li One, a luxury mid-size hybrid crossover.
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