The best stocks of electric cars to buy today? 3 To know
3 trending EV stocks to watch in the stock market today
If you followed stock Exchange news this year you will know the stocks of electric cars. More commonly, most would call these cars electric vehicles (EVs). Today, the current momentum of this industry is mainly due to the major environmental issues of our world today. With concerns about global warming and climate change, electric cars would become more and more relevant. Just this week, the news broke that President Biden intended to announce a new national target for domestic sales of electric vehicles. This primarily affects electric cars accounting for half of all new vehicle sales in the United States by 2030. As a result, investors might see a top-notch opportunity. electric car stocks on the stock market today.
On the one hand, investors have no shortage of options. Of course, many would be familiar with the likes of You’re here (NASDAQ: TSLA). It is the leading name in the industry after all. Pair that with its clean energy home grid solutions and TSLA’s stock would now benefit from the global green wave. Elsewhere, another rapidly growing space in the electric vehicle industry to know about now would be the Chinese market. Big names such as Xpeng (NYSE: XPEV) and Li Auto (NASDAQ: LI) would come into play in this space. In particular, Xpeng recently won over investors by delivering a record number of electric vehicles last month. Notably, it has seen a 288% year-over-year increase.
Overall, the case of best stocks of electric cars continues to grow every day. This would be the case with massive government support and persistent consumer demand. Given all of this, you might be looking to invest in some of the best EV stocks yourself. If so, here are three that are worth knowing now.
Best Electric Car Stocks To Buy [Or Sell] This month
Ford Motor Company
To begin with, we’ll take a look at the Ford Motor Company. This legacy automotive manufacturing is a titan in today’s automotive industry. Like most of its peers, the company is gradually moving towards a fully electrified fleet. Given the current popularity of Ford’s offerings, a switch to electric cars would be appropriate. US customers looking to upgrade their current vehicles would have more alternatives available and Ford could keep up with current industry trends. Could all of this make the F stock a top electric car stock to consider?
If anything, Ford doesn’t appear to be slowing down anytime soon. In its latest quarterly tax report released last week, the company posted total revenue of $ 26.75 billion for the quarter. This represents a considerable increase of 38% year over year. On top of all this, Ford also released some solid numbers in its July 2021 sales update. In it, the company saw sales of its Mustang Mach-E electric car rise 15.8 percent from month to month. At the same time, bookings for the Ford F-150 Lightning truck currently stand at over 120,000. Overall, it appears that demand for Ford’s current offerings remains strong.
While all of this is great, Ford continues to aim for its goal of electrifying its portfolio. The company is currently aiming to invest $ 22 billion by 2025 to do so. Overall, Ford vice president of US and Canadian sales Andrew Frick said: “With our strong portfolio of new products, robust transaction prices and a large order bank, we are perfectly positioned for significant growth as the semiconductor chip situation improves.“Given all of this, some would say the F-stock might have more room to move forward. Would you say the same?
Source: TD Ameritrade CGU
Another company to consider in the electric vehicle industry today would be Nio. In short, the company is one of the leading designers and manufacturers of intelligent electric vehicles with autonomous driving capabilities. For the most part, Nio primarily caters to the burgeoning Chinese consumer electric vehicle market. To put it in perspective, today it is the largest electric vehicle market in the world and continues to grow significantly. According to the China Association of Automobile Manufacturers, sales of new energy vehicles in China could increase by more than 40% per year until 2025. With Nio’s offerings being a prime option there, it is not. surprising that investors are now eyeing NIO shares.
Of course, the company’s shares are already sitting on gains of over 220% over the past year. However, Nio nevertheless appears to be shifting into high gear operationally. Earlier this week, the company released stellar numbers in its July 2021 delivery update. In it, Nio delivered a total of 7,931 vehicles in July, indicating a whopping 124.5% increase in year after year.
All things considered, I can understand if NIO’s stock is currently at the center of the major electric car stocks. Overall, the company continues to exceed expectations and expand its business. This is clear from its efforts to penetrate the European market right down to its battery swap plans. With Nio set to release its second quarter results next week, would you consider NIO stock to be one of the best buys right now?
Source: TD Ameritrade CGU
General Motors Company
Similar to our first entry, General Motors (GM) is another historic automaker turning to electric vehicles. As you might expect, the company designs, manufactures and markets its wide range of automotive offerings around the world. When it comes to its electric car projects, GM plans to have a fully electrified portfolio by 2035. Among its flagship brands, the company’s Cadillac division is looking to have a fully electric lineup by 2030. All of this. Would it make GM’s stock a market-leading electric car now?
Well, for one thing, German Bank (NYSE: DB) analyst Emmanuel Rosner seems to believe it. On Thursday, the analyst hit GM stock with a buy rating and a price target of $ 68. That would indicate a potential rise of 24.9% from its current price of $ 54.44 at Thursday’s closing bell. Notably, Rosner appears to be bullish on GM stocks despite the company’s recent earnings.
In detail, GM reported earnings per share of $ 1.97 on revenue of $ 34.17 billion for the quarter. This is compared to estimates of $ 2.23 and $ 30.9 billion. Among other factors, the company is also facing the global shortage of semiconductor chips. Regardless, GM appears optimistic about its long-term growth prospects, raising its outlook for 2021. CFO Paul Jacobson said: “The year is actually going quite well and I think we exceeded all of those initial expectations to go beyond what we thought we could do at the start of the year.“In light of all this, will you be adding GM stocks to your portfolio?
Source: TD Ameritrade CGU
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.