Best EV stocks to Buy for Q1 2023
Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
79% of retail CFD accounts lose money
The popularity of electric vehicles has led to several new companies operating in the sector and has even pushed traditional car makers to shift to battery-operated vehicles. On this page, our experts have selected five of the best EV stocks to buy for the year ahead.
What are the top EV stocks to buy?
Below you can find a list of the top EV stocks to buy this year as selected by our investment experts. Click the buttons next to each stock to buy right now, or keep scrolling to read more about each company.
| # | Stock symbol | Company name | Trade now |
|---|---|---|---|
| 1 | TSLA | Tesla | |
| 2 | RIVN | Rivian | |
| 3 | NIO | Nio | |
| 4 | XPEV | XPeng | |
| 5 | F | Ford |
1. Tesla (TSLA)
Tesla is widely considered one of the market’s best electric vehicle stocks. The company is the largest EV manufacturer in the world, producing around a million cars per year across several models, including the Model S, Model 3, Model X, and Model Y. As the market leader in the EV space, Tesla has consistently grown its revenues in recent years.
One of the main reasons why Tesla is a good stock is its strong financial performance. Despite the challenges posed by the pandemic, its stock price began to surge in early 2020, driven by strong demand for its vehicles and increasing investor confidence in the company. However, in 2022, its price fell due to increasing competition in the EV space and several production issues.
Additionally, Tesla has been expanding its business beyond just producing electric cars. In 2020, it announced it would make solar panels and energy storage systems. Tesla is also involved in developing autonomous driving technology, which it hopes to implement in its cars shortly. This diversification of business could provide opportunities for growth and revenue streams in the future, making it an attractive stock for investors.
2. Rivian (RIVN)
Rivian is an electric vehicle manufacturer making strides in the industry. The company has been growing steadily and is well-positioned to benefit from the global shift to electric vehicles. It has increased its production numbers, announced plans to double its output in 2023, and opened a second manufacturing plant in Georgia. T
One of its most significant achievements is its deal with Amazon to deliver 100,000 electric trucks. The company has already produced the first 1,000 vehicles, which indicates demand and potential for future partnerships. Amazon has placed a big bet on Rivian and is helping the company with its development and production in a way that will allow them to reach mass production and scale up.
Despite this positive news, Rivian’s shares have recently been down due to the company’s decision to no longer work with Mercedes for an EV van platform and the broader drop in the industry. This news may have caused some investors to lose confidence in the company, but it could also provide a good buying opportunity for those looking to invest in a growth stock in the EV market.
3. Nio (NIO)
Nio is a Chinese electric vehicle (EV) manufacturer, often referred to as the “Tesla of China.” Founded in 2014, Nio partners with a state-owned auto manufacturer to sell a fleet of five battery-operated vehicles.
It has built a battery-swapping network across the Chinese mainland, allowing owners of Nio EVs to “refuel” within five minutes at over 200 stations. Nio is considered a growth stock, with a share price that soared nearly 1000% after its IPO in 2018 but has since seen a decline.
Despite a setback due to the global semiconductor shortage, Nio is expanding in Europe and doubling the size of its manufacturing plant to produce nearly 300,000 EVs per year.
4. XPeng (XPEV)
XPeng is an up-and-coming electric vehicle manufacturer based in Guangzhou, China. The company designs, manufacture, and sells smart EVs, focusing strongly on advanced technology such as artificial intelligence and cloud computing. It also has its own proprietary software and hardware for Autopilot, making them a leading player in the autonomous driving space.
With global demand for EVs rising, especially in China, XPeng is well-positioned to benefit from this trend. The company has recently experienced rapid growth, selling nearly 100,000 EVs in 2021, which was more than double its previous year’s sales.
Founded in 2015, XPeng targets middle-class consumers in the mid to high-end segment of the market. This strategy has led to solid sales and revenue growth, making it an attractive option for investors looking for a piece of the growing EV market. With its focus on advanced technology, proprietary software and hardware and strong sales growth, XPeng is an excellent stock to buy for investors looking for a growth stock in the EV market.
5. Ford (F)
Ford isn’t strictly an EV company, as much of its revenue is generated from non-electric vehicles. However, It is making a significant investment in the EV space by opening a new factory campus in Tennessee. This $5.6 billion project is set to come online in 2025 and will be used to produce a new electric truck and batteries for its Ford and Lincoln brands.
This move by Ford shows a clear commitment to the EV market and positions the company well for growth in the industry. Ford already has a strong lineup of EV models, including the successful F-150 Lightning, Mustang Mach-E, and E-Transit van, and with the new factory, it will be able to expand its offerings even further.
In addition, Ford has announced plans to invest $22 billion in EV and autonomous vehicle development by 2025, which indicates the company’s focus on the EV market and its commitment to future growth. With a strong lineup of EV models and a new factory on the way, Ford is well-positioned to benefit from the growing demand for electric vehicles.
Where to buy the best EV stocks
You can buy all EV stocks on our list by visiting any brokerage platform below. Click on any of the links to get started in minutes and invest in the best electric vehicle stocks for 2023.
What is an EV stock?
An electric vehicle stock refers to a stock that is associated with companies involved in the production, development, and distribution of electric vehicles. This can include companies that manufacture EVs and those that produce key components such as batteries, motors, and charging systems.
These stocks can also include companies involved in the development of autonomous driving technology and other advanced technologies related to EVs.
Are EV stocks a good investment?
EV stocks are considered a good investment for a few reasons. Firstly, the global shift towards electric vehicles is expected to continue in the coming years as more and more consumers and governments look to reduce their carbon footprint.
This demand increase for EVs will likely drive growth for companies involved in producing, developing, and distributing electric vehicles. As a result, investing in an EV stock provides an opportunity to gain exposure to this growing market and benefit from this trend.
Secondly, investing in EV stocks also allows investors to diversify their portfolios and invest in a new and emerging industry. The EV market is still in its early stages and is expected to continue to evolve in the coming years. Additionally, investing in EV stocks can align with personal values of investing in sustainable clean energy and ESG-friendly companies. Before investing, it’s a good idea to keep up to date with the latest news, which you can do on the links below.
Aston Martin shares are rebounding: the case for selling its F1 team
Snap stock loses 15% on Q4 loss: buy the dip?
Wedbush’s Manuelian reveals his top semiconductor stock
General Motors Q4 results: ‘we’re positioned to win in EV space’
A top Wall Street analyst says this EV stock could cut in half this year
Key wage inflation measure eases in Q4: don’t be ‘too bullish’ on stocks
More of the best performing stocks
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >