Skip to content
The 5 best electric vehicle stocks to buy now


  • Electric vehicle (EV) stocks are likely to benefit from rising global demand.
  • flashing charging (BLNK): Revenues soar as international expansion continues.
  • Li-Auto (LI): Despite the recent resurgence of the pandemic in China, Li Auto is among the top 10 names of electric vehicles in China.
  • Nio (NIO): Although the title risks being delisted in the United States, global operations are developing.
  • You’re here (TSLA): To overcome supply chain issues, Tesla recycles and produces certain materials and parts.
  • A workhorse (WKHS): Management is confident that Workhorse will meet its production targets.

Source: Ilija Erceg / Shutterstock

The disruptive electric vehicle industry is driven in part by environmental concerns. As required by the Paris Agreement, many countries have agreed to reduce their levels of greenhouse gas (GHG) emissions to zero by 2050. Recent measurements from the United States Environmental Protection Agency suggest transport is the largest source of GHGs with a share of 27%. InvestorPlace.com readers should be aware that petroleum-based fluids, such as gasoline and diesel, make up approximately 90% of the energy source in transportation.

In addition to environmental initiatives, the current war in Ukraine has brought alternative energy sources and electric vehicles into the limelight. Energy costs have skyrocketed in recent months. Although the situation does not resemble the tragic gas shortages of the 1970s, the current disruptions in Eastern Europe have put considerable pressure on oil supply and prices.

According to Allied Market Research“Global Electric Vehicle Market was valued at USD 163.01 Billion in 2020 and is projected to reach USD 823.75 Billion by 2030, registering a CAGR of 18.2% from 2021 to 2030.”

Yet, despite the sector’s potential growth, S&P Kensho Electric Vehicle Index is down 32.7% year-to-date (YTD) and 33.4% over a 12-month period. As a result, many electric vehicle stocks now offer better value.

With that information, I’ve put together a list of the top five electric vehicle stocks worth your attention:

BLNK Blink Charging Co. $16.69
LI Li Auto Inc. $24.39
NIO NIO inc. $16.55
TSLA Tesla, Inc. $742.94
WKHS Workhorse Group Inc. $3.02

Best electric vehicle stocks: Blink Charging (BLNK)

The 5 best electric vehicle stocks to buy now

Source: David Tonelson/Shutterstock.com

flashing charging (NASDAQ:BLNK) provides charging equipment and services. In other words, although it doesn’t make EVs, it still has a big place in the industry.

Blinking load released first quarter (Q1) results on May 9. Revenue hit a record high of $9.8 million with a 339% year-over-year (YOY) increase. Net loss for the quarter was 36 cents per share, compared to 18 cents for Q1 FY21. Cash and marketable securities totaled $161.9 million as of March 31.

Management believes that the company is on the right track to expand its business worldwide. After acquiring Electric Blue in the UK, the company now has a presence in 19 countries, including the US, UK, Belgium, Greece and nine countries in Latin America.

Despite the growth in earnings, BLNK stock is down 38.1% year-to-date and 52% over a 12-month period. Meanwhile, the shares are trading at 29.2 times sales. Right now the 12 month median price prediction for BLNK is $25.

Li Auto (LI)

The 5 best electric vehicle stocks to buy now

Source: Robert Way / Shutterstock.com

The next stock on the list, Li-Auto (NASDAQ:LI), is a major actor in the Chinese electric vehicle market. It relies on its internal combustion engine range extender to appeal to a wider customer base. Li Auto is among the top 10 electric vehicle manufacturers in China, which tops the list of GHG emissions

Chinese domestic policies encourage drivers to choose electric vehicles for their next car purchase. Recent research from Intelligence of Mordor suggests that the domestic market could grow at a compound annual growth rate (CAGR) of over 30% between 2022 and 2027.

Li Auto announced unaudited first quarter results May 10. Revenue reached 9.31 billion RMB – or $1.47 billion – up 168.7% from 3.46 billion RMB a year ago. Meanwhile, the non-GAAP diluted loss per share was 7 cents. Free cash flow (FCF) was $79.2 million.

In the second quarter, management plans to deliver between 21,000 and 24,000 vehicles. Despite the resurgence of the Covid-19 pandemic in China, investors are eagerly awaiting the launch of the new L9 line in the third quarter.

LI stock is down 17.6% year-to-date, but up 20% over a 12-month period. Shares change hands at 4.32 times sales. Meanwhile, the 12-month median price forecast for Li Auto is $33.36.

Best electric vehicle stocks: Nio (NIO)

The 5 best electric vehicle stocks to buy now

Source: various photographs / Shutterstock.com

This third stock of electric vehicles, Nio (NYSE:NIO), also comes from China. It is differentiated by battery exchange and autonomous driving technologies.

Nio freed Q4 FY21 unaudited results as of March 24. Total revenue was RMB 9,900.7 million or $1,553.6 million, up 49.3% year-on-year. Adjusted diluted net loss was 16 cents per share. Cash and cash equivalents totaled $2,406 million.

Management noted that deliveries for the ES8, ES6 and EC6 totaled 9,652 vehicles in January and 6,131 vehicles in February, up 33.6% and 9.9% year-on-year, respectively.

InvestorPlace.com readers will recall that the United States Securities Exchange Commission (SEC) added dozens of companies to a list of companies that could be expelled from US stock exchanges. The list mainly includes Chinese companies, including Nioas well as its rivals, Li Auto and XPeng (NYSE:XPEV).

As a result, NIO stock has lost nearly 50% since the start of the year. Shares trade at 3.91 times forward sales and 12-month median price forecast for Nio stock is $30.87.

Tesla (TSLA)

The 5 best electric vehicle stocks to buy now

Source: Vitaly Karimov / Shutterstock.com

The next step is You’re here (NASDAQ:TSLA), perhaps the most famous manufacturer of electric vehicles. This pioneer of electric vehicles has disrupted the traditional automotive industry, encouraging other players to include electric vehicles in their product lines.

You’re here first quarter results released At the beginning of April. Revenue was $18.75 billion, up 81% year-on-year. Adjusted earnings per share were $3.22, up 246% over the same period last year. The FCF was $2.2 billion.

Despite global supply chain issues, management is keen to increase capacity. In order to overcome some of these obstacles, Tesla produces and recycles the necessary parts and materials.

Like most other EV stocks, TSLA stock is down 29% year-to-date, but still up 16.46% over a 12-month period. The shares are trading at 61.7 times forward earnings and 14.37 times forward sales. The current 12-month median price prediction for Tesla stock is $1,125.

Best electric vehicle stocks: Workhorse (WKHS)

The 5 best electric vehicle stocks to buy now

Source: Photo by WorkHorse.com

The final stock of electric vehicles on our list is A workhorse (NASDAQ:WKHS). Its products include delivery trucks and drones for the commercial transportation industry. We must remind readers that Workshorse is still a pre-revenue electric vehicle name.

A workhorse first quarter results released May 10. The net loss was $22.1 million. Cash and cash equivalents totaled $167 million. During the quarter, it opened a new design center in Wixom, Michigan to enhance its engineering capabilities.

Management believes that it is following the various stages well. It expects production of Class 4 vehicles to start in the third quarter. Production of Class 5 and Class 6 vans and delivery trucks will likely begin in the third quarter of 2023, and more products could arrive in 2024.

Recent Research Highlights“The global electric commercial vehicle market is expected to reach over two million units by 2028, growing at a compound annual growth rate between 2020 and 2028 of approximately 41%.” In other words, Workhorse could, in fact, capture a slice of that growth.

Nonetheless, WKHS stock is down 32% year-to-date and 63% over the past year. Finally, the 12 months the median predicted price for Workhorse is $6. The stock could appeal to potential investors whose portfolios can handle the volatility that accompanies a pre-income EV stock.

At the date of publication, Tezcan Gecgil did not hold (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.

Tezcan Gecgil has worked in investment management for over two decades in the US and UK. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) exam. His passion is option trading based on the technical analysis of fundamentally sound companies. She particularly enjoys setting up covered weekly calls to generate income.

InvestorPlace

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.