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Highlights
- Traditional fuel-powered vehicles are slowly being replaced by newer, greener and renewable alternatives
- A wide range of electric vehicle (EV) stocks are available in the market, like Tesla, Nissan, Ford, etc.
- Investors can diversify their investment portfolio by investing in these clean and green stocks
With rising prices of petrol and diesel, the awareness of GHG emissions and green alternatives is also growing at a frantic pace. Further, several countries are phasing out oil and gas for cleaner and sustainable renewable energy.
Do Read: Here’s how range of electric vehicles has evolved over time
According to a report, there are nearly 12 million electric cars on the road worldwide as of 2022. The number is likely to jump to around 50 million by 2025.
This is welcome news for the EV sector as it prepares to replace its traditional fossil fuel counterparts.
With this backdrop, let us look at some of the top and promising electric car stocks to watch out for this year.
Source: © Drimafilm | Megapixl.com
Tesla
California-based Tesla, which is led by famous Elon Musk, is the leading electric car provider. Since its inception, this car manufacturer has pioneered the market and is currently the biggest EV seller across the globe. It boasts having a market cap of over US$1 trillion.
A Quick Read: Tesla dips its toes in electricity retailing market: Five things to know
Currently, its range of electric vehicles includes models like Model S, Model 3, Model X and Model Y. Moreover, its Cybertruck boasts better utility than that of a truck and is equipped with much more performance than a sports car.
It is noted that the car company delivered 310,000 vehicles in Q1 FY22, up 68% on pcp, despite battling a global shortage of computer chips and other parts.
NIO
Next in line is Nio, which was founded in 2014, and is a Chinese automobile manufacturer specialising in designing and manufacturing smart, high-performance EVs. It has a market cap of US$32.41 billion.
As per the Company, it delivered 9,985 vehicles in March 2022, climbing by 37.6% Y-o-Y. Towards May-end, NIO plans to introduce the 2022 NIO ES8, ES6 and EC6 models, equipped with the most advanced and latest features.
Nissan
Coming up next is Nissan, which was established in 1933 and is headquartered in Japan. It is one of the leading automakers across the world and has nearly US$16.26 billion as its market cap.
Nissan Leaf is its most popular EV and is perhaps one of the best-selling electric vehicles worldwide. The car is laced with breathtaking features and world-class interiors. Also, customers can choose from a range of colour options.
Hyundai
We would now look into Hyundai, which was incorporated in 1967 and is a South Korea- based car manufacturer. The Company boasts a diverse range of models, offering the latest technology, efficiency, safety and style, and it has a market cap of US$30.52 billion.
One of its very popular EV models is Hyundai IONIQ 5. An interesting feature of this model is that it comes in all three variants, hybrid, plug-in hybrid as well as all-electric.
Its other EV models include Hyundai Kona, Hyundai Kona Electric Elite, etc.
Also Read: From Toyota to Audi: How leading carmakers are planning to go 100% electric
Ford
Topping off the list is Michigan-based Ford, which was established in 1903 and boasts a market cap of US$61.05 billion.
Apart from manufacturing electric vehicles, the Company also designs and develops Ford trucks, sport utility vehicles and also luxury vehicles worldwide.
Currently, its low-emissions vehicles include Ford Escape PHEV and other Puma and Focus Vehicles. Further, it is soon launching Puma Mild-Hybrid and Escape Hybrid Ford models in New Zealand. Also, the full electric e-Transit EV is soon arriving this year.
Bottom Line
Owing to a continuous focus on clean energy, EV stocks are gaining plenty of attention from investors around the world.