Electric cars are becoming increasingly popular across the globe. In a few decades, every car on the road could be electric. Investors that buy electric car stocks soon could be in an excellent position to capitalize on this macro-scale trend.
Traditional car companies are also entering the EV fray. These classic car stocks are slowly increasing their exposure to the EV industry. Car stocks could also benefit from an eventual shift to electric vehicles.
Electric vehicle stocks could grow significantly in the coming years. For more on the hottest growth stocks, check out more of our top stock picks here. To get late-breaking coverage of the hottest stocks, sign up for free Stock Dork Alerts. You’ll receive a free copy of our “2020 Growth Guide” when you join, so subscribe today.
Top Five Electric Car Stocks You Can Buy
Here are five electric car stocks you should consider buying today.
Tesla Inc. (TSLA)
Tesla remains the most popular electric car brand in the world. The shares of Tesla Inc. is up by 13.5% year-to-date, despite the stiff competition it now faces in the electric vehicles industry. Tesla continues to stay ahead of the pack due to its innovativeness, and the stock could be worth your money at the moment.
Tesla’s Model 3 was crowned the best electric car of the year by Edmund.com. Editors at Edmund arrived at this conclusion after extensive testing of the electric vehicles. Tesla’s Model 3 emerged as the highest-ranking electric vehicle of 2019.
The company is on track to expand its operations to Israel by next year. Tesla’s representatives have been meeting with Israeli ministries of transportation and energy. They are accessing the legal requirements for Tesla to become a local electric car distributor in Israel. The expansion of its market could play a role in the stock performing excellently.
Nio Inc. (NIO)
One of the leading Chinese electric car manufacturers, Nio is a popular EV stock. While 2019 has been tough for the company, it remains a famous electric car brand. The stock price is down by 172% since the start of the year. However, it could recover its value by next year.
Earlier this month, Nio revealed that it delivered 2,528 vehicles in November, which saw it maintains its strong momentum. The deliveries represent the fourth consecutive month that Nio recorded growth in shipments. The strong performance by Nio heading into 2020 could see the stock record considerable growth next year.
Ford Motor Company (F)
Ford is one of the leading car manufacturers in the world. The company had delved into the electric vehicles industry and is looking to become a leader over time. Ford’s share price is up by 15% year-to-date but could surge higher as we head into 2020.
Last month, Ford rolled out its Mustang Mach-E. This is the first all-electric SUV from Ford as the company aims to spend $11 billion on electric vehicles and hybrid cars by 2022. The car is the leading edge of a new generation of Internet connectivity for Ford. It enables Ford to carry out over-the-air software updates, making it an exciting car for road users.
General Motors Company (GM)
General Motors is known for designing, manufacturing, marketing, and distributing vehicles and vehicle parts. Its entry into the electric car scene will see it challenge the likes of Ford and Tesla. General Motor’s share price has had a mixed year, up by 1% after attaining several highs over the past month.
The Chevrolet 2020 Bolt EV is a leading electric car by General Motors. Last week, GM and LG Chem partnered to build a $2.3 billion electric car battery plant in Ohio. Operations could commence by mid-next year, expanding GM’s activities in the electric vehicles sector.
Volkswagen AG (VWAGY)
Volkswagen is one of the largest car manufacturers in the world. The German-based automotive company is behind popular brands such as Audi, Škoda Auto, SEAT, Porsche, and more. The company’s stock is up by 18% since the start of 2019.
The entry of Volkswagen into the EV sector makes it a worthwhile stock to consider. The company launched the ID.3, a vehicle it describes as its first ‘electric car for the masses.’ The car will be available by mid-next year. Volkswagen is planning to spend €60 billion to expand its electric car fleet. The company plans to roll out 75 electric car models and 60 hybrid cars over the next decade. Such an investment would make it one of the leading EV companies in the world.
More Electric Cars Worth Buying
Electric vehicles are becoming more popular as car manufacturers are diversifying into the sector. However, some electric car stocks are worth buying now, due to their vast potential. Subscribe to the Dork to get the latest on electric cars. You can get even more stock market news by following the Stock Dork on Twitter and Facebook. Don’t miss another update, sign up for mobile Dork Alerts to get hot stock picks, insights, and analysis delivered directly to your phone.