AMTE Power, Ceres Power, AFC Energy: EV stocks you may put on watchlist

4 min read | March 05, 2022 03:24 AM AEDT | By Priya Bhandari

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AMTE Power, Ceres Power, AFC Energy: EV stocks you may put on watchlist — Image source: buffaloboy, Shutterstock

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Highlights

Electric vehicle (EV) sales continued to rise as new car registration surged by 15% in February.

The SMMT has urged the UK government to revise the VAT rules for EV charging as the energy cost continued to soar amid the Russia-Ukraine crisis.

Electric vehicle (EV) sales continued to rise as new car registration surged by 15% in February, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The number of new cars rolling off the assembly lines stood at 58,994 cars.

Despite the rise in registrations by 7,682 units, overall car registrations were down by 25.9% from the pre-pandemic levels as new cars sales were down by a quarter due to a global shortage of chips. Registration of battery-electric vehicles (BEVs) rose to 10,417 units, taking the market share to 17.7%, and Plug-in Hybrids (PHEVs) had 7.9% of the market share. When combined with the hybrid (HEV) registration of 6,883 cars, EVs now account for over a third of all new cars on the road.

The SMMT has urged the Boris Johnson government to extend the Electric Vehicle Homecharge Scheme beyond 2025 that is going to end in April this year and want the government to reform Value Added Tax (VAT) rules for EV charging as the energy cost is rising amid the Russia-Ukraine crisis. Currently, VAT of domestic electricity is 5%, but motorists using on-street chargers pay 20%.

The current Russia-Ukraine conflict is another major factor in vehicle supply issues, and experts are predicting that things would be normal only later in the year. Most global carmakers have cut their ties with Russia, some were also forced to halt production due to a lack of spare parts from the manufacturers in Ukraine.

Let us take a look at five-FTSE listed stocks that are related to the EV space:

AMTE Power Plc (LON: AMTE)

The market cap of leading developer and manufacturer of Lithium-ion battery cells for specialist markets, AMTE Power Plc stood at £32.43 million as of 4 March 2022. The company’s share value since the start of the year has depreciated by -35.90% as of 4 March 2022. AMTE Power Plc’s shares were trading at GBX 92.50, up by 0.54%, at 13:14 PM (GMT) on 4 March 2022.

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Johnson Matthey Plc (LON: JMAT)

The market cap of global specialty science chemicals company Johnson Matthey Plc stood at £3,376.05 million as of 4 March 2022. The company’s share value has depreciated by -44.50% over the last one year, as of 4 March 2022, and it hasn’t performed well this year as its year-to-date return is -13.80%. Johnson Matthey Plc’s shares were trading at GBX 1,761.00, down by 2.33%, at 13:18 PM (GMT) on 4 March 2022.

Ceres Power Holdings Plc (LON: CWR)

The market cap of fuel cell technology and engineering company Ceres Power Holdings Plc stood at £1,190.15 million as of 4 March 2022. The company’s share value has depreciated by -43.32% over the last one year as of 4 March 2022. The year-to-date return is -38.52%. Ceres Power Holdings Plc’s shares were trading at GBX 612.00, down by 1.92%, at 13:18 PM (GMT) on 4 March 2022.

AFC Energy Plc (LON: AFC)

The market cap of leading Alkaline Fuel Cell power company AFC Energy Plc stood at £257.07 million as of 4 March 2022. The company’s share value has depreciated by -23.39% over the last one year as of 4 March 2022. Its year-to-date return is -31.54%. AFC Energy Plc’s shares were trading at GBX 33.95, down by 3.00%, at 13:18 PM (GMT) on 4 March 2022.

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Aston Martin Lagonda Global Holdings Plc (LON: AML)

The market cap of leading manufacturer of luxury car Aston Martin Lagonda Global Holdings Plc stood at £998.29 million as of 4 March 2022. The company’s share value has depreciated by -58.89% over the last one year as of 4 March 2022. Its year-to-date return is -39.88%. Aston Martin Lagonda Global Holdings Plc’s shares were trading at GBX 810.60, down by 5.53%, at 13:18 PM (GMT) on 4 March 2022.

Tags- AMTE Power Plc, Johnson Matthey Plc, Ceres Power Holdings Plc, AFC Energy Plc and Aston Martin Lagonda Global Holdings Plc

Note: The above content constitutes a very preliminary observation or view based on industry trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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