SHOPSMART AUTOS – COMSUMER INFORMATION – SEPTEMBER 7, 2021
Top Electric Car Stocks for Q3 2021 The electric auto industry is comprised of companies focused on the manufacture of electric cars, trucks, vans, and commercial vehicles, as well as companies that offer electric automobile parts and services. While some traditional automakers also produce electric vehicles, this article focuses on companies considered to be largely pure-play electric vehicle manufacturers. The electric car industry is young and growing quickly. Tesla Inc. (TSLA) is one of the more familiar names, but there are others like Workhorse Group Inc. (WKHS) and Arcimoto Inc. (FUV) that are exhibiting rapid growth. As a relatively new industry, there is no benchmark for electric car companies. However, electric car stocks can be compared to the broader equity market as represented by the Russell 1000. The Russell 1000 has provided a total return of 35.7% over the past 12 months.1 This market performance number and all statistics in the tables below are as of June 9, 2021. Here are the top 3 electric car stocks with the best value, the fastest growth, and the most momentum. Best Value Electric Car Stocks These are the electric car stocks with the lowest 12-month trailing price-to-sales (P/S) ratio. For companies in early stages of development or industries suffering from major shocks, this can be substituted as a rough measure of a business’s value. A business with higher sales could eventually produce more profit when it achieves, or returns to, profitability. The price-to-sales ratio shows how much you’re paying for the stock for each dollar of sales generated.
Kandi Technologies Group Inc.:
Kandi Technologies Group is a China-based company primarily focused on the development and production of electric vehicles (EVs), parts, and off-road vehicles. It produces mini electric cars, all-terrain vehicles (ATVs), go-karts, and motorcycles. In late May, the company unveiled its new K32 utility terrain vehicle (UTV), which features pure electric four-wheel-drive propulsion and a fully enclosed cockpit with air conditioning. Sales of the new vehicle are planned to begin sometime in 2021.2
Li Auto Inc.:
Li Auto is a China-based developer and manufacturer of smart electric vehicles. Its main product is the Li ONE, a smart electric sport utility vehicle (SUV). The company also sells peripheral products and related services, including charging stalls and Internet connection services for vehicles.
NIO Inc.:
NIO is a China-based manufacturer of smart and connected electric vehicles, and related parts. Its vehicles are equipped with assisted-driving features. The company also provides vehicle charging solutions. In May, NIO delivered 6,711 vehicles, a year-over-year (YOY) increase of 95.3%. NIO said that its vehicle deliveries were adversely impacted for several days due to semiconductor supply issues.3
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