Hot EV Stocks: How have they fared in the past year?

Summary

  • Electric Vehicle (EV) is the booming sector and offers a huge opportunity for the investors.
  • The shift towards sustainable development is pushing the EV sector.
  • The companies across the globe EV and allied sectors have grown tremendously and have been giving good returns to the investors.

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The Electric Vehicle (EV) rally, which started in 2020, has already indicated its investors about its future potential. Strong support from the government institutions, stringent tailpipe emission guidelines and a global shift towards cleaner energy has already given wings to the EV sector. It will be unfair to talk about EVs without mentioning the godfather of the industry Tesla Inc. The CEO of EV giant Elon Must recently announced prize money of US$100 million for exploring and putting forth the ways to limit CO2 from the ocean and atmosphere. 

The involvement of celebrities, efforts of leading organisations across the globe to cut emission, and US president Joe Biden's support is likely to change the outlook of EV space tremendously. Let's look at the ten most influential stocks that can become the potential game-changer of the EV sectors.

Source: NASDAQ, NYSE, ASX (As of 3 May 2021)

1)    Blink Charging Co. (NASDAQ: BLNK, BLNKW)

Blink is the leading supplier of EV charging equipment. BLNK has recently inked a pact with General Motors (GM) in a bid to make public charging more convenient. Under GM's Ultium Charge 360, the customers will soon get real-time charging updates, charging point routes and direct payment facility from the GM mobile app.

Also Read: Semiconductor Shortage Chipping Away at EV industry Production

2)    NIO Inc. (NYSE: NIO)

NIO is a China-based smart EV manufacturer. The company delivered a record-breaking 7,102 EVs in April 2021, recording a massive 125.1% growth on a year-on-year basis. The stock has performed surged 6.10% growth in the past one month.

3)    Plug Power Inc. (NASDAQ: PLUG)

Plug Power is a fuel cell and hydrogen cell provider for EVs. The company helped the automakers to replace the conventional lead-acid batteries to power EVs, in Europe and North America. The company focuses on proton exchange membrane technology and other allied storage infrastructure. The company is currently facing a lawsuit as it failed to file its annual report on time.

4)    Archimoto Inc. (NASDAQ: FUV)

Archimoto is an ultra-efficient EV manufacturer with its manufacturing unit located in Eugene, Oregon. The company recently announced that its vehicles would be available for a rebate of US$2,500 under the Oregon Clean Vehicle Rebate and US$2,500 under the Charge Ahead rebate.

Also Read: Is Electric Vehicle Era Making Fossil Fuel-Driven Vehicles a History?

5)    Niu Technologies ADR (NASDAQ: NIU)

Niu is a Chinese EV manufacturer with a specialisation in electric scooters, motorbikes and related accessories. The company is in developing stage and gradually finding markets in the US and Europe. Around 2.05 million shares of NIU are held by Cathie Wood’s Ark Autonomous Technology & Robotics ETF. The company is expecting to announce its Q1 FY21 results on 17 May 2021.

6)    Beam Global (NASDAQ: BEEM, BEEMW)

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Beam Global is the leading sustainable technology provider for EVs. The company has deployed two EV ARC(TM) solar-powered charging systems in the City of San Diego to power growing EVs in the city. EV ARC(TM) systems are fully renewable systems that store and generate electricity on their own to charge EVs.

Must Read: Three ASX stocks to watch for as clean energy market heats up

7)    Workhorse Grp (NASDAQ: WKHS)

Workhorse is a technology company that provides solutions to the EV sector in the US. The company also deals in real-time thematic and cloud-based performances to enable fleet operations by optimising the route and energy efficiency. The company is set to announce its quarterly results on 10 May 2021.

8)    Galaxy Resources Limited (ASX:GXY)

Galaxy is an Australia-based lithium player which supplies lithium to the EV battery manufacturers, with its operations in Australia, Canada and Argentina. In April 2020, the miner announced its merger with Orocobre (ASX:ORE) to become the world’s top five leading lithium chemical company.

Good Read: Orocobre and Galaxy Resources’ merger set to create a lithium giant

9)    Mineral resources Limited (ASX: MIN)

Mineral resources is also an Australian-based multi-commodity miner including, iron ore, lithium and manganese. The miner is constructing a 50 Kilo-Tonnes Per Annum (ktpa) Lithium Hydroxide Plant in collaboration with Albemarle Corporation (NYSE: ALB). The project is expected to complete in the second half of this year.

10) Vulcan Energy Resources Limited (ASX:VUL)

Vulcan Energy is an ASX-listed mining company that is advancing towards battery-grade lithium production using a direct lithium extraction process with zero carbon emission.


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