Do you have these top EV stocks on your December 2021 watchlist?
Electric vehicle (EV) stocks are among the most active stocks in the stock market today. Overall, this is mainly due to a variety of short and long term factors. For starters, the investor hype around emerging names in the field like Rivien (NASDAQ: RIVN) is now putting the industry in the spotlight. Hot IPOs aside, there is also long-term growth potential to consider. Namely, electric vehicles are, in theory, part of the equation when it comes to tackling climate change. As major governments around the world try to reduce their country’s emissions, this is evident. Because of all of this I could see investors looking at the best EV stocks on the stock market. now.
On the one hand, some of the biggest names in the electric vehicle business also continue to make aggressive games. Since last week, Ford (NYSE: F) now works with chipmaker GlobalFoundries (NASDAQ: GFS). Through the current deal, the duo are working to bolster Ford’s chip supply. In doing so, Ford would directly address the global chip shortage. Whatever your reason for considering EV stocks now, there are plenty of options. With that said, could any of those EV stocks be worth buying right now?
The best electric vehicle stocks to watch out for right now
First on this list we have XPeng, a leading intelligent electric vehicle company that develops and manufactures electric vehicles in China. Its sedans and SUVs have captured the attention of a large and growing base of tech-savvy middle-class consumers in China, and the company continues to grow. The company is also internally developing its advanced driver assistance system technology and intelligent on-board operating system. XPEV stock has risen over 65% in the past 6 months.
Last week, the company unveiled a new electric SUV called the G9 and plans to launch it in the third quarter of 2022 in China. Impressively, the G9 will feature Xpeng’s semi-autonomous Xpeng driving system, lidar technology and Nvidia’s DRIVE Orin (NASDAQ: NVDA).
“G9 is our first model to be designed and developed from scratch for the international and Chinese markets, bringing our most sophisticated designs to our customers around the world“Xpeng co-founder Henry Xia said in a press release. Given this exciting news, will you be paying close attention to XPEV stocks at this time?
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The next step is Nio, a pioneer in the Chinese electric vehicle market. In addition to designing and manufacturing its range of electric vehicles, the company also uses next-generation technologies in connectivity, artificial intelligence and autonomous driving. It also offers comprehensive value-added services and a practical and innovative suite of charging solutions to its users. This includes Power Swap, its innovative battery swap service.
On November 9, 2021, the company released its third quarter financial statements. First, vehicle deliveries for the quarter were 24,439, double the previous year. Second, its vehicle sales were $ 1.34 billion for the quarter, also doubling year-over-year. The company also ended the quarter with $ 7.3 billion in cash and cash equivalents.
Impressively, this is done despite continued volatility in the supply chain. Not resting on its laurels, the company continues to accelerate the development of its products and technologies and will offer users new products based on its Nio 2.0 technology platform in 2022. That being said, will you consider investing in NIO action?
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Lucide Group Inc.
Lucid group is a high-end electric vehicle company. The company’s first car, the Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design backed by race-proven technology. It recently began production of vehicles in the third quarter at its Advanced Manufacturing Plant (AMP-1) in Casa Grande, Ariz., And also began Phase 2 of construction at AMP-1 to add 2.85 million feet. squares of space. Given its ambitious expansion, LCID stock has grown by over 120% in the last month alone.
Last week, the company reported its third quarter financial results and also announced that its Lucid Air won the MotorTrend Car of the Year award for 2022. Diving into its highlights, the company also reports that bookings from customers grew to 13,000 during the third quarter, reflecting an order backlog of approximately $ 1.3 billion and have since exceeded 17,000.
The company also received EPA certification as a longer-range production electric vehicle, exceeding 450 miles on a single charge on its Lucid Air. Plus, the Dream Edition R achieves 520 miles of range on a single charge. For these reasons, will you be monitoring LCID stock?
After that is the leading name in EV trade, You’re here. Safe to say, any auto investor worth his salt would know this industry titan. Just to put it mildly, the company produced 238,000 electric vehicles and shipped over 240,000 electric vehicles in its last quarter.
Additionally, Tesla also released stellar numbers in its latest quarterly earnings report. In it, the company posted year-over-year gains of 388% net profit and 433% earnings per share.
If anything, Tesla seems to be working hard to increase its reach in the international market now. Obviously, CEO Elon Musk has provided some positive news on the company’s S Plaid EV model. According to Musk, Tesla is planning an early spring release for the electric vehicle in China. With China being the world’s largest electric vehicle market, this would be Tesla’s strategic game. Could all of this make TSLA stock a premium watch for you?
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Last but not least, we will examine Fisker. Among its EV peers, the company focuses in particular on the development of more environmentally friendly EVs. While the company is expected to start producing its first Fisker Ocean electric vehicles next year, FSR’s stock remains in the spotlight. As it stands, the company’s shares are currently based on annual earnings of over 40%.
As for its upcoming first version of VE, the company recently provided a key operational update. Investors and consumers alike got their first glimpse of the production version of the Fisker Ocean SUV last week.
Notably, the feature-rich automobile comes with a massive 17.1-inch main interface screen. This screen is the result of a collaboration between Fisker and the Taiwanese chip giant Foxconn. After this update, would you consider adding FSR stocks to your watchlist?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.