TSLA, NIO & 2 other EV stocks to keep an eye on

Highlights

• EV stocks are drawing a lot of investor interest and making the headlines worldwide. 
• Increasing pressure on global energy supplies amid the Russia-Ukraine war has prompted demand for EVs.
• Tesla, NIO and Fisker are some of the top EV stocks for Kiwi investors.

Electric vehicles are being promoted widely by automakers and governments to lower human dependence on fossil fuels and battle climate change. As per the IEA Global EV Outlook report, sales of electric cars rose more than doubled to 6.6 million in 2021. 

New Zealand saw a steep rise in EV registrations in 2021 as the Government introduced thousands of dollars in rebates for EV buyers. EV dealers are also witnessing extraordinary demand for cars amid a surge in petrol prices due to Russia’s invasion of Ukraine. 

Subsequently, EV stocks are getting a lot of interest and making the headlines by investors worldwide as attitudes shift towards environmentally friendly options. 

Let’s take a look at the top EV stocks that Kiwi investors can opt for. 

Tesla Inc (NASDAQ:TSLA) 

Tesla is a US-based EV and clean energy company founded in 2003.  

Tesla recently increased its prices for its product range encompassing Model X, Model Y, Model S and Model 3. Tesla delivered over 936K vehicles in 2021. The Company generated US$2.8 billion in operating cash flow in Q4 and an operating income of US$2.6 billion in the quarter. 

DO READ: Are electric vehicles really eco-friendly? 

Tesla plans to grow its manufacturing capacity and attain a 50% average annual growth in vehicle deliveries. 

Source: © Martinleber | Megapixl.com

On 17 March, TSLA ended the trading session at US$871.6, up 3.73% from its previous close.

NIO Inc. (NYSE:NIO) 

NIO Inc. is a China-based designer and developer of electric vehicles. 

NIO’s share price soared 25.59% on 16 March to reach US$18.75. The optimism came on fresh support measures announced by the Chinese government and the Fed’s confidence in the US economic outlook. 

GOOD READ: Will skyrocketing oil prices give wings to EV adoption? 

On 9 March, NIO got listed on the main board of The Stock Exchange of Hong Kong Limited by offering its Class A ordinary shares. NIO delivered 6131 vehicles previous month, up by 9.9% YOY. 

NIO will report its Q4 and 2021 results on 24 March 2022. On 17 March, NIO ended the trading session at US$18.82, up 0.37% from its previous close.

Fisker Inc. (NYSE: FSR)

Fisker is a US-based auto manufacturer that aims to create the world’s most sustainable vehicles.  

DO READ: Is there a massive global energy crisis in the offing? 

The Company made the debut of its Fisker Ocean all-electric SUV to the European market at the Mobile World Congress in Barcelona last month. Ocean reservations crossed 30K as of 14 February 2022. The Group’s net loss totalled US$138.4 million in Q4 2021 and reported cash and cash equivalents were US$1.2 billion as of 31 December 2021. 

On 17 March, FSK ended the trading session at US$12.06, up 4.6% from its previous close.

XPeng Inc. (NYSE: XPEV)

XPeng is a Chinese EV start-up that made over 25K deliveries in Q3 of 2021, registering a 199.2% rise YOY. The Group reported total revenues of US$887.7 million and a gross margin of 14.4% in the quarter. 

The Company expects 34,500-36,500 vehicle deliveries in the fourth quarter, showing a rise of 166.1% - 181.5% YOY. XPeng plans to persist to trailblaze new and disruptive innovations that reformulate China’s automobile industry. 

ALSO READ: GM unveils electric version of its top-selling pickup Chevy Silverado 

On 17 March, XPEV ended the trading session at US$24.97, down 9.3% from its previous close. XPeng’s shares soared on reports that regulators in the US and China are nearing cooperation as well as increased demand for EVs.

Bottom Line 

NZ Investors can invest in these stocks through various share trading platforms like Sharesies, Hatch, Stake, etc.