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Highlights
- In 2021, new car registration increased to 1.65 million as compared to 2020 which led to sale of around 190,000 battery electric vehicles.
- The sales are still below the pre-pandemic level by 29%.
- SMMT has predicted an increase in new car registrations by 19% in 2022.
Electric vehicles are grabbing headlines past many years and is expected to be big this year as well. The number of EVs predicted to be sold in the UK is likely to double in 2022 as compared to 2021. Last year, the Society of Motor Manufacturers and Traders (SMMT) reported an increase in new car registration to 1.65 million as compared to 2020 which led to sale of around 190,000 battery electric vehicles, accounting for about 11.6% of the total sales despite disruption in global supply chains.
However, the sales are still below the pre-pandemic level by 29%. With around 40,910 units sold, Vauxhall Corsa was the best-selling car in 2021 in UK, followed by Tesla Model 3 with around 34,780 units sold and BMW’s Mini stood at third position with around 31,790 units sold.
As the semiconductor shortage eases and demand for electric vehicles increases, SMMT has forecasted increase in new car registrations by 19% to 1.96 million in 2022, which still below 2.3 million sold in 2019.
The Boris government has restricted the sale of new diesel and gasoline vehicles by 2030 and hybrid vehicle by 2035.
Also Read: What are the hurdles in buying an electric car now?
Here are the five FTSE listed EV stocks and stocks that are closely linked to EV manufacturing that can be a good buy this year.
Aston Martin Lagonda Global Holdings PLC (LON: AML)
FTSE 250-listed Aston Martin Lagonda Global Holdings Plc is engaged in designing, engineering, and manufacturing of luxury cars and it mainly operates in the high luxury sports car segment. The company’s market cap stood at £1,579.19 million and it has given a negative return of 26.10% to its shareholders in the last one year as of 6 January 2022.
Aston Martin Lagonda Global Holdings plc’s shares were trading at GBX 1,397.50 on 6 January 2022 around 12:28 pm, up by 3.06%.
Saietta Group PLC (LON:SED)
Saietta Group PLC is an AIM-listed electric vehicle focused company that offers electric drive solutions, including manufacture of prototype and production electric motor for vehicles and has also developed axial flux traction (AFT).
Saietta Group Plc’s shares were trading at GBX 255 on 6 January 2022 around 13:45 and its current market cap is £216.87 million.
Also Read: Sony announces EV entry at CES 2022: 2 FTSE tech stocks to buy now
TI Fluid Systems Plc (LON: TIFS)
FTSE 250 Index constituent TI Fluid Systems Plc is an international manufacturer of highly engineered fluid storage, carrying and delivery systems to offer products and services for light vehicles.
The company’s market cap stood at £1,363.11 million and it has given a return of 6.58% to its shareholders in the last one year as of 6 January 2022. TI Fluid Systems plc’s shares were trading at GBX 261 on 6 January 2022 around 12:44 pm, down by 0.38%.
AMTE Power Plc (LON: AMTE)
AMTE Power Plc is an AIM-listed developer and manufacturer of lithium-ion battery cells, and its products include Ultra Safe (US), Ultra High-Power (UHP), Ultra Prime (UPr) and Ultra Energy (UE). Its shares were trading at GBX 136.50 on 6 January 2022 around 1:45 pm, down by 4.88%, and its market cap is £51.99 million.
Also Read: What are critical metals and why are EV makers racing to secure their supplies?
Ceres Power Holdings Plc (LON: CWR)
Ceres Power Holdings Plc is an AIM-listed company that works on advanced fuel cell technology in a bid to offer economical and environment-friendly energy solutions to other companies.
The company’s market cap stood at £1,819.56 million and it has given a negative return of -31.93 to its shareholders in the last one year as of 6 January 2022. Ceres Power Holdings plc’s shares were trading at GBX 880.50 on 6 January 2022 around 1:15 pm, down by 7.91%.
