The 11 Best Electric Car Stocks To Buy Now!

Sarah Foley - November 16, 2020

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Once considered a thing of the future, electric cars have finally made their way to the mainstream. This new technology will be used to combat climate change and reduce our reliance on fossil fuels. The best electric car stocks could see rapid growth as the industry booms.

There are many companies around the world that are involved in the production and distribution of electric vehicles. We’ve rounded up the best electric car stocks to add to your portfolio as this industry continues to grow.

Electric Car Stocks To Invest In

Tesla car

Tesla Inc (NASDAQ: TSLA)

Tesla Inc. is one of the most well-known electric car companies in the world. They are currently based in Silicon Valley, where they produce electric cars and a number of other clean energy products. Tesla is run by world-renowned businessman Elon Musk.

Tesla led the market in the development of electric vehicles. They released their first model, the Roadster, in 2008. They have released four newer models in the years since.

Investors have been very keen on Tesla this year, and for good reason. No other electric car brand comes close to Tesla’s name recognition or its market share. They are currently the most valuable car producer in the world and will be added to the S&P500.

Tesla earnings exceeded expectations in the third quarter of 2020. This was their fifth profitable quarter in a row. One of the things that helped Tesla stay profitable is their diverse business model. In addition to cars, they also create solar energy products and rechargeable electric batteries.

Tesla has long been known as a luxury car manufacturer. However, they’re looking to expand their range of vehicles and cater to a broader market sector.

The recent election in the US could potentially benefit Tesla as well. In his campaign, Joe Biden proposed extensive climate change reform. This could include tax credits for electric vehicle manufacturers like Tesla.

Tesla will likely also continue to expand into China and other markets with sales potential. They are currently producing their newest car, the Model Y, in China.

Since Tesla has such a large share of the market, it’s unlikely that this car company is going anywhere anytime soon. They are consistently one of the best electric vehicle stocks to buy Tesla is worth adding to your portfolio if you haven’t already invested in it.

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Nikola is a relatively new electric vehicle producer based in Arizona. They have committed to developing zero emissions vehicles and have released a number of prototypes.

In particular, Nikola is focused on the production of zero emissions trucks. Earlier in 2020, they announced the Badger, a concept for a truck that would use hydrogen cell technology and have a 600 mile range.

The company has been steadily increasing their truck production this year. They have also been in talks with General Motors about a deal that would allow them to increase their manufacturing capabilities.

Many investors have been wary of Nikola as they have struggled with publicity issues in the past. However, some experts have indicated that their stock may still be undervalued.

Since Nikola stock is currently very affordable, it may be the right time to open a position. Should the General Motors deal come through, it’s likely that their stock value would increase. Since companies globally are making the switch to electric delivery vehicles, Nikola might see more deals like this in the future.

Workhorse Group (NASDAQ:WKHS)

Workhorse Group is an American manufacturing company that makes parts for electric cars and trucks. Although they’ve made parts for other types of vehicles as well, Workhorse has set themselves apart by focusing on electric vehicles and other sustainable technology.

Workhorse stock has dropped slightly in value over the last month. However, this could mean it’s the right time to buy. Workhorse is in talks with the US Postal Service for a huge order of trucks.

If they land this contract for electric delivery vehicles, it would be worth over $6 billion for Workhorse. It would likely result in a jump in stock prices as well. They already count DHL and UPS among their customers as well.

The USPS will likely make their decision on the Workhorse contract by the end of 2020. Investors should consider buying Workhorse stock now to take advantage of this potential growth.

Fisker (NYSE:FSR)

Fisker is one of the newer electric car stocks on the market. They were founded in 2016 and are the latest venture from legendary vehicle designer Henrik Fisker. They released their IPO earlier this year.

Fisker has released several electric vehicle prototypes. Some of the most exciting include the Fisker Ocean and the Fisker EMotion. The EMotion is a streamlined sports sedan, while the Ocean is a larger SUV. Both will be long-range and designed for high performance.

Although these are luxury vehicles, they have captured the attention of the market. Since they are newly public, it might take some time before their value stabilizes. However, they have excellent potential for the future, especially as their cars eventually make it to market. Their price is low right now and it might be a good long term buy.

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Chinese Electric Car Stocks

Nio car interior


Nio is a Chinese electric car manufacturer based in Shanghai. While Tesla has been leading the way in the EV market in recent years, Chinese companies are catching up.

Nio currently has four electric car models on the market. They also produce semi-autonomous car technology. They operate battery swap, charging, and service stations throughout China for their electric vehicles. Nio currently leads the market in battery swap technology.

Nio stock price started to take off in May of this year. This growth has been relatively unchecked, with some analysts wondering if shares will eventually hit a ceiling.

Nio stock started to drop in mid-November as analysts determined that it may be over-valued. However, Nio has not released their third quarter earnings yet. Depending on how the company performs, Nio’s stock could get another boost.


XPeng is another leading Chinese EV stock. They currently have operations in Guangzhou, China and Mountain View, California.

XPeng was founded in 2014, but only launched their IPO in August of 2020. Their shares remained steady through most of September and October before rising as a result of excellent third quarter sales numbers.

Since XPeng is relatively new to the market, they could be subject to volatility in a way that companies like Tesla are not. However, market data indicates that XPeng has huge growth potential. This is especially true if they can keep up their performance in the coming year.

Electric vehicles have become incredibly popular in China. XPeng will need to remain competitive and keep a strong market share as this business grows.


Li Auto is another new electric vehicle company based in China. They only went public in July of 2020, but have made a splash in the market.

This company takes a slightly different approach to electric vehicles than its competitors. Many of their products are hybrid models that can run on either electric or gasoline. This means they have a very long range and don’t need to be charged as often.

Li’s third quarter performance was very strong, which boosted their stock value. They’ve also increased their vehicle delivery compared to previous years.

Since Li is one of the newer electric car stocks on the Chinese market, it still has plenty of room to grow. They’re currently outperforming Nio and are competitive with XPeng.

Electric Car Battery Stocks

Albemarle Corporation (NYSE:ALB)

Albemarle Corporation is the world’s largest producer of lithium, which is a key component of electric car batteries. This chemical company also produces catalysts and bromine specialties.

This company is based in Charlotte, North Carolina, but has plants all over the world. Recently, they have been increasing their lithium production to take advantage of opportunities in the electric car market.

Albemarle’s stock value has grown steadily since the dip in March. Although they reported losses in the second quarter of 2020, they were able to keep their output stable through responsible financial decisions. Their cash flow has remained steady

While quarter three earnings still declined year over year, Albemarle was able to beat investors’ expectations. This pushed shares even higher.

They have also been tapped by the US Department of Energy for key lithium research projects. This makes them an industry leader in developing electric car batteries and other rechargeable technologies.

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Panasonic (OTC:PCRFY)

Panasonic is a Japanese electronics company that is heavily involved in the electric vehicle market. They are one of the world’s largest suppliers of lithium ion batteries.

A lithium ion battery is essential for any electric vehicle as well as hybrid vehicles. They currently have a deal with Tesla Inc. as well as many other notable electric car manufacturers.

Panasonic’s stock is very affordable, which means that it can be subject to volatility when compared to larger electric car stocks. However, they’ve been consistently on the way up this year as they’ve increased their battery sales.

Since landing the Tesla deal, Panasonic has reported very strong revenue numbers. They’re also optimizing their production to minimize excess costs. This is a great value stock for any investor wanting to benefit from the electric vehicle trend.

Electric Car Charging Stocks

electric vehicle charging

Blink Charging Co (NASDAQ:BLNK)

Blink is one of the leading provides of electric vehicle charging stations in the US. They are based in Miami but have charging stations available throughout the country, especially in large metro areas.

In addition to running the charging stations, Blink also acquired BlueLA Carsharing in September. This company runs Los Angeles’s city car-sharing program. Auto sharing solutions are likely to get more popular as society transitions to electric cars. This acquisition places Blink in an exciting position going forward.

Blink Charging Co. has been a very volatile stock, so investors will want to be cautious until the price stabilizes. They posted less-than-ideal earnings in the third quarter of 2020, which caused a big drop in share prices.

These kind of ups and downs are fairly normal for a new company like Blink, especially in an industry that is changing so rapidly. As electric vehicles become more common, Blink will have more opportunities to install charging stations and stabilize their revenue.


Aptiv is an Irish company that provides parts and technology for electric vehicles and their chargers. Since Aptiv’s products directly support the electric vehicle industry, it’s likely that they’ll see some growth as prominent EV companies increase their vehicle sales.

Aptiv also stands to grow as companies build electric vehicle charging stations around the world. Their charging cables and other battery technologies are an essential for many of the world’s largest EV manufacturers.

Like many other companies, Aptiv’s stock struggled during the early days of the coronavirus pandemic. However, they have managed to rebound and even grow their stock value this fall.

Aptiv’s potential for long term growth makes it one of the best stocks in the electric car and battery market. They’ve been very innovative in terms of their partnerships with other companies, such as Lyft and BMW. They’ve also managed to exceed expectations with their earnings this year despite economic challenges.

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Electric Car Stocks: Final Thoughts

EV stocks are very exciting right now. Electric vehicles are hitting the mainstream, with much of the development happening in China and in the US. Sustainable transportation has become a must have to combat our global climate crisis.

Electric car stocks have been very successful in the last year, and it’s likely just the beginning. As governments around the world continue to encourage low-emissions technology, we can expect to see EV stocks increase in value.


Sarah Foley is a freelance content writer based in Chicago. She covers finance as well as real estate, technology, pop culture, and more.