Top 5 electric vehicle stocks to buy now

Electric vehicle (EV) stocks are growing outside the auto industry. Many other companies produce goods related to electric vehicles such as batteries, charging stations, motors and other mechanical components. The electric vehicle charging networks ChargePoint (CHPT), Blink Charging (BLNK), EVgo (EVGO) and Wallbox are just a few examples (WBX).

Powertrains compatible with renewable gases and H2 fuel cells are being developed by Hyliion (HYLN) alongside electric powertrains for heavy-duty vehicles.

Commercial electric vehicle fleets can obtain their batteries from Romeo Power (RMO). When it comes to lithium metal batteries, QuantumScape (QS) claims to have made significant progress.

General Motors, Nio and Xpeng rely on Magna (MGA) for battery boxes and e-drive gears. Another SUV from the firm, the Fisker Ocean, is on the way by the end of the year.

Although they have recovered from last year’s losses, the stock charts of most electric vehicle companies are showing new signs of stress. Electric cars are still a relatively new industry, which is why investments by large manufacturers and small entrepreneurs are considered high risk. As the market shifted to a risk mentality and shortages of critical components persisted, their fortunes soured.

Electric vehicle stocks with the strongest combination of fundamental and technical indicators are listed here.

BYD Company Limited (OTCMKTS: BYDDF)

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BYD, a Chinese automaker, is listed in Hong Kong and trades over-the-counter in the United States. It is possible that BYD, a major battery manufacturer, will start supplying Tesla with batteries for electric vehicles in the near future. Its strong growth in 2021 and so far this year can also be attributed to BYD’s in-house chip manufacturing.

BYD has moved to production of BEV and PHEV (PHEV). Despite the Covid-19 shutdowns, BYD more than tripled its EV unit sales in June and the second quarter of 2018. As a follow-up, it more than quadrupled EV sales in 2021. BYD, which has Berkshire Hathaway (BRKB) as a backer, sells electric vehicles in Norway and plans to expand internationally.

The composite score for BYD (BYDDF) is 0.0 and the EPS score is 56. BYDDF stock price challenges its 50-day moving average after climbing back above it on July 14 on strong guidance of profits. As a result, the line representing relative strength weakens.

Tesla (NASDAQ:TSLA)

Tesla Stock
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On July 20, Tesla announced better-than-expected second-quarter results. A previous report said second-quarter electric vehicle deliveries grew 27% year-on-year. Even though production halted in April due to Covid issues, deliveries were down more than 18% from the first quarter.

The Model S Plaid can go from 0 to 100 km/h in less than two seconds, making it the fastest production Tesla to date. The Model 3 sedan and the Model Y crossover SUV are two of Tesla’s four cars. The Cybertruck, Semi and Roadster are part of its future ambitions.

The IBD composite rating for Tesla stock is 58, and the EPS rating is 75, making it the highest-rated auto and electric vehicle company by market capitalization. In July, after spending two months below this critical support level, stocks finally climbed back above the 10-week moving average. The TSLA stock relative strength index is up again after a decline. There is clear evidence of a long-term upward trend.

Each year, Tesla hopes to increase its car deliveries by 50%. As a result, 936,172 Teslas were sent in 2021, an increase of 87% over 2020.

Li Auto Inc (NASDAQ: LI)

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Li Auto’s price-to-earnings ratio is 76, while the company’s value-to-price ratio is 90. While LI stock has remained above key averages, it has started to take of the delay on the RS line, which is worrying for a company leading growth on the IBD 50.

Shares of the Chinese electric vehicle company more than doubled in value in the seven weeks from mid-May to late June, and are now stabilizing around highs. The Li-One SUV is available from Li Auto. The Li-One is a plug-in hybrid electric vehicle with a small gasoline engine. On June 21, Li Auto released the L9, their second SUV.

Despite the Covid struggles, Li Auto saw a resurgence in its electric vehicle sales in June and May, with sales up 63% for the whole of the second quarter. Vehicle power sales nearly quadrupled in 2021 thanks to Li. The company’s revenue is growing at a triple-digit pace.

Lucid Group Inc (NASDAQ: LCID)

Electric cars and Bitcoin
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Lucid Motors, an Arizona-based electric vehicle manufacturer, is leading the way in a new generation of luxury performance cars. Their first production car, the Lucid Air, debuted in January of this year at the CES tech show. With 513 horsepower and a top speed of 200 mph with 0-60 acceleration in 2.5 seconds, it’s easy to see why they called it “The New Standard In Performance.”

On top of that jaw-dropping performance, the car looks like something out of a sci-fi movie. It has self-driving functionality (Level 3) as standard and a spacious interior with luxury amenities such as hand-stitched leather seats and dual panoramic glass roofs with artificial lighting for illumination during driving. night driving.

When the company revealed a reduction in its production target for the year, LCID shares fell. Due to logistics and supply chain issues, Lucid Group reduced its manufacturing target from 20,000 to 12,000 units. That could be a problem for the company, as it only delivered 125 automobiles in 2021 and 360 in the first quarter of 2022.

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