Investing in Electric Vehicles Top 12 EV Stocks in 2022

best ev stocks 2022

Its share price is down 44% on the year and trades at just $11.70. The shares have a rock-bottom price-earnings ratio of only 5.53, and its shareholders get a dividend that yields 4.9%. The company has even restructured itself in order to separate its gasoline-powered automobiles from its newer electric vehicle unit. While lithium prices have cooled off in recent months, the demand for the commodity isn’t expected to wane for many years to come.

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There is some concern by investors that the new L8 launching in Q4 will take away sales from the L9. However, this isn’t warranted because the value proposition for the two vehicles is entirely different. The L8 is a scaled-down, smaller and less expensive version of the L9 SUV. Hyundai Motor (HYMTF, $35.00) has a couple of EV hits on its hands with the Hyundai Ioniq 5 and Kia EV6.

Lordstown Motors (NASDAQ: RIDE)

Allocating a portion of your portfolio to EV stocks is one way to help boost the zero-emissions vehicle transition and potentially bolster your returns. Hyliion (HYLN) is developing electric powertrains for big-rig trucks. Romeo Power (RMO) makes battery packs for commercial EV fleets. Companies with two characteristics generally make the best candidates for stocks to buy and watch, according to CAN SLIM guidelines. Second, they should be technically strong and be shaping bullish chart patterns.

In spite of the company’s promising future, shares have fallen 11% since the beginning of the year and 68% over the past year. Naming recent improvements in supply chains and industrywide sales, Ford reaffirmed its guidance for 2023 in its first-quarter earnings release on May 2. Revenues were up 20% for the quarter, thanks to a 9% increase in vehicle shipments.

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Nio’s EV sales rebounded strongly in February, signaling a positive turnaround after supply chain issues. The company is confident about doubling sales this year, citing new EV models, a robust charging network, and self-driving technology. With annual deliveries skyrocketing from 11,348 to 122,486 vehicles, their compound annual growth rate (CAGR) reached an impressive 81%. Similarly, their annual revenue demonstrated a CAGR of 74% during that period.

We go over five names that appear well-positioned to benefit from this trend. Not only is Nio’s latest EV, the ES7 SUV, a much-anticipated release promised at the end of August, but Nio is also becoming a global leader in battery swapping technology. The company operates more than 900 swap stations across China and plans to launch more throughout Europe as well. The stock is also benefiting from the reopening of trade in China as COVID restrictions are being lifted. Nio, along with its investment firm Nio Capital, has made significant investments in Neo Fusion.

Traditional automakers making EVs

Electric vehicle technology is also constantly evolving, and those making EVs now could be left in the dust by the ones that develop better battery technology or autonomous-driving features. For example, it was able to delay the installation of Level 3 electric vehicle (EV) chargers in Canada without significantly hurting its financials. This penny stock could be worth looking into for its ability to lead a niche EV market and the high demand for its products across industries. The app also provides real-time portfolio, market, and research information, which can be customized to fit the user’s needs.

  • With the global EV market expected to grow at an accelerated CAGR of 18.2% through 2030, there will be a massive TAM for ChargePoint to gradually capture.
  • An opening $142 million, including a 3.7% stake in Aston Martin, cemented the agreement.
  • The Chinese government has also announced a range of subsidies which range between $689 and $1,800 per vehicle.
  • With 30,000 charging station locations, ChargePoint is the largest and most open electric vehicle charging network in the world.
  • According to S&P Global Market Intelligence, Hyundai Mobis is the largest shareholder, with a 20.7% stake.

The table below shows the 15 best-performing members of the Solactive Electric Vehicles and Future Mobility Index that are also traded on major U.S. exchanges. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. The company designs, manufactures and markets test and burn-in products to the semiconductor manufacturing industry.

Best EV Stocks To Buy Now in 2023: Top Electric Car Companies To Invest In

Like Tesla, Rivian stock has crashed since peaking in late 2021, with the company’s shares falling by roughly 80% from their highs. The company’s market cap is now about $26 billion, which is quite the drop. However, the company isn’t consistently profitable, so conservative investors will likely still view that number as wildly optimistic.

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You can argue the benefits of one EV over another, but what all of these vehicle models have in common is that they require constant charging. Sure, some vehicles have better battery spans than others, but you can’t really go on a long trip without charging your EV. ON Semiconductor Corporation does not produce EVs, but it does produce a range of power control and image-sensing chips that are essential components for EVs.

What’s special about the Top Electric Vehicle companies?

While it still ended up with a net loss after factoring expenses, it’s no wonder why investors were keen to offer the company more capital to expand. According to S&P Global Market Intelligence, lithium-ion battery packs cost US$156 per kilowatt hour (kWh) in 2019. At US$100 per kWh, most experts believe EVs will reach cost parity with petrol and diesel vehicles. While some battery packs are below US$100 already, the key here is the average, and BloombergNEF estimates this will be achieved in 2024. While Tesla’s share price has fallen severely from its peak of US$407 in late-2021, its income generation ability has actually grown stronger in 2022, more than doubling total net income in 2021. Similar, basic earnings per share in 2022 ended at $4.02, compared to just $1.87 in 2021.

best ev stocks 2022