CWR, AFC, AMTE- EV stocks under investors’ lens

Be the First to Comment Read

CWR, AFC, AMTE- EV stocks under investors’ lens

Follow us on Google News:
 CWR, AFC, AMTE- EV stocks under investors’ lens
Image source: Alexandru Nika, Shutterstock.com

Highlights

  • More than half a million electric cars have been sold in the UK In June, according to automotive analyst Matthias Schmidt.
  • The production of EV vehicles in the UK doubled in May as compared to last year.
  • Around one-fifth of the electric cars being driven in the UK are made by the US electric car pioneer Tesla.

Despite global supply chain disruptions caused by the pandemic and the ongoing Russia-Ukraine crisis, more than half a million electric cars have been sold in the UK In June. According to Berlin-based automotive analyst Matthias Schmidt, the UK will overtake France in terms of electric car sales by the end of this year.

From less than 100,000 in 2019, the number of electric cars has significantly increased now. Accounting for around 1.2% of the total 40.5 million cars on the UK roads, electric car sales are anticipated to increase swiftly with new models being rolled out by manufacturers.  As per the Society of Motor Manufacturers and Traders, the production of electric cars in the UK doubled in May as compared to last year.

          EV sales going up in the UK                                                                ©2022 Kalkine Media®

Production of electric cars has surged as carmakers have been trying to keep in line with the strengthening regulations on CO2 emissions, amid the looming prohibitions on the sale of petrol and diesel cars that would be implemented in the UK and EU by 2035. Around one-fifth of the electric cars on the UK roads are made by the US electric car pioneer Tesla.

The UK government has been reducing the subsidies on electric cars steadily. As of June, the subsidies on electric cars have been cut down completely, but despite that, the demand for electric cars has been exceeding the supply for years. However, the EV industry has been significantly impacted lately due to component scarcities and misjudged demand.

Amid the rising electric car production, UK investors can keep an eye on the following EV-related stocks that have good prospects. 

Ceres Power Holdings plc (LON: CWR)

Ceres Power Holdings plc specialises in electrochemical and fuel cell technology for EVs. The FTSE AIM UK 50 Index constituent holds a market cap of £1,080.85m as of 4 July. Ceres' performance has taken a hit over the past year with both one-year and YTD returns in the negative territory as of 4 July, at -47.09% and -43.80%, respectively. Its Earnings Per Share (EPS) also lies in the negative territory, at -0.09. The company’s shares were trading at GBX 562.80, down by 0.25%, at 8:41 AM (GMT+1) on 4 July.

AFC Energy Plc (LON: AFC)

AFC Energy plc builds alkaline fuel cells which are deployable in EV chargers. The company holds a market cap of £146.10 million as of 4 July. The AIM-listed company hasn’t done well over the past year with both one-year and YTD returns in the negative territory as of 4 July, at -70.46% and -60.81%, respectively. Its Earnings Per Share (EPS) also lies in the negative territory, at -0.01. The company’s shares were trading at GBX 19.32, down by 2.87%, at 8:45 AM (GMT+1) on 4 July.

AMTE Power plc (LON: AMTE)

AMTE Power plc develops Lithium-ion and sodium-ion battery cells which are utilized in EVs. The company holds a market cap of £20.09 million as of 4 July. The AIM-listed company hasn’t performed well over the past year with both one-year and YTD returns in the negative territory as of 4 July, at -75.35% and -60.70%, respectively. Its Earnings Per Share (EPS) also lies in the negative territory, at -0.13. The company’s shares were trading at GBX 57.00 at 8:48 AM (GMT+1) on 4 July.

 

Disclaimer

Featured Articles