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Highlights
- Electric car sales more than doubled in 2021, reaching a record high of 6.6 million, with more cars sold per week than in 2012.
- Despite supply chain issues, electric vehicle sales increased dramatically in 2022.
- The ASX200 Materials sector traded in green during intraday trading session today.
Electric vehicle (EV) stocks may be worth considering now in the stock market today as the demand for EVs are rapidly increasing.
There are two major potential tailwinds for electric vehicle firms, in general, to keep an eye on right now. To begin with, European Union leaders are considering a partial embargo on the purchase of Russian oil. This would be the sixth round of sanctions imposed on Russia due to its invasion of Ukraine.
Second, there are indications out of China that the government plans to lift the two-month COVID ban in Shanghai.
Because of these, many electric vehicle (EV) stocks are trading in the green today.
Meanwhile, ASX 200 Material Index was also 2.55% up at 18,255.90 at 1.51 PM AEST.
In this article, we will discuss three ASX-listed EV companies to look out for in June 2022. hese include Novonix Limited, Ampol Limited and Magnis Energy Technology Limited.
Image Source: © 2022 Kalkine Media ®
Data Source- ASX website 03 June 2022
Novonix Limited (ASX:NVX)
Novonix Limited is a lithium-ion battery material, equipment, and services manufacturer and distributor in North America. Graphite exploration and mining, battery technology, and battery materials are its three segments.
Stock performance: Shares of Novonix were trading 3.12% higher at AU$3.63 apiece on ASX today at 1.53 PM AEST. The company has provided a negative YTD return of around 60.50% to its shareholders. However, its shares have jumped almost 97.28% in the last year.
Also Read: Novonix (ASX:NVX) shares buzzed in red today; here’s why
Ampol Limited (ASX:ALD)
In Australia, New Zealand, Singapore, and the United States, Ampol Limited purchases, refines, distributes, and markets petroleum products. Convenience Retail, Fuels, and Infrastructure are the company's two segments.
Ampol's Convenience Retail segment offers fuels through its retail network. Fuel and lubricant supplies are wholesaled by the Fuels and Infrastructure division.
Ampol was earlier known as Caltex Australia Limited.
Stock performance: At 2.02 PM AEST, Ampol's shares were spotted trading at AU$35.00 each, up 3.18% on ASX. The company's shares have grown around 17.73% YTD, and it has provided 20.07% returns to its shareholders in the last year.
Source: © Mrdoomits | Megapixl.com
Magnis Energy Technology Limited (ASX:MNS)
Magnis is a lithium-ion battery cell manufacturer based in Australia. It focuses on three main areas: gigafactories, battery technology, and graphite.
Stock performance: Magnis' shares were trading at AU$0.39 each, up 2.63% on ASX today at 2.08 PM AEST. The company's shares have fallen around 32.17% YTD, while it recorded a 34.48% increase in its 52-weeks share price.
Also Read: WHC, VEA, ALD: 3 ASX energy stocks in focus as fuel prices fall
