CWR, SED, AMTE: EV-related stocks to check out right now

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CWR, SED, AMTE: EV-related stocks to check out right now

 CWR, SED, AMTE: EV-related stocks to check out right now
Image source: Alexandru Nika, Shutterstock.com

Highlights

  • As more and more people switch to EVs, houses with off-parking have become more expensive.
  • The prices have soared by up to 33% in some regions, according to new research.

Fuel prices in the UK are touching new highs very frequently these days, putting huge pressure on the pockets of motorists. Due to this, more and more people are switching to electric vehicles (EVs) as they are more economical to drive. Additionally, they also cause significantly less pollution as compared to traditional fuel engines. However, there's a lesser-known side-effect of the switch - a rise in house prices.

According to research conducted by real estate agency Savills, the transition to EVs has led to a surge in the prices of houses with off-street parking where charging points can be installed.

The agency added that the shortage of charging points has led to a rise in the house price premium with off-street parking since 2019.

As more and more people switch to EVs, houses with off-parking have become more expensive.

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Up to 33% premium for a driveway

A home with a driveway in suburban London now costs 4.7% more. This means a £500,000 home will cost £23,500 extra if it has off-street parking. In the most expensive areas, the premium may go as high as 33%, Savills said. This is more than the 26% that a large garden adds to the value of the house.

Another thing to note is that the price hikes are significant in regions like London, where a lot of people have electric cars. The city has a relatively well-developed infrastructure for EVs compared to the suburbs. As per a report by The Telegraph, the combined number of electric cars has risen by 176% in the last two years. On the other hand, the rise in the number of charging points stands at just 72%.

In wake of this information, let us take a look at some EV-related stocks listed on the London Stock Exchange.

Ceres Power Holdings plc (LON: CWR)

Ceres Power Holdings is a fuel cell technology and engineering firm that makes products for use in several markets, including electric vehicles.

It currently holds a market capitalisation of £1,027.41 million, and its last close was at GBX 536.60 on 17 June 2022.

The share value has plunged significantly over the past one year, and the return stands at -42.80%. The year-to-date return too stands in the negative territory at -46.15%.

Saietta Group plc (LON: SED)

Saietta Group is an engineering firm specialising in the design, development, and supply of powertrains for electric vehicles, as well as other applications.

The FTSE AIM All-Share constituent's share value has depreciated by 43.44% on a year-to-date basis. The company holds a market cap of £123.44 million, and its last close was at GBX 145.00 on 17 June 2022.

AMTE Power plc (LON: AMTE)

AMTE Power develops and manufactures lithium-ion battery cells for a range of markets like aerospace, automotive, defence, and other specialised markets.

The company has a market capitalisation of £25.02 million, and its share value has nosedived by 71.27% over the past one year. Shares of the FTSE AIM All-Share constituent closed at GBX 71.00 on 20 June 2022.

Note: The above content constitutes a very preliminary observation or view based on market 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.

Fuel prices in the UK are touching new highs very frequently these days, putting huge pressure on the pockets of motorists. Due to this, more and more people are switching to electric vehicles (EVs) as they are more economical to drive. Additionally, they also cause significantly less pollution as compared to traditional fuel engines. However, there's a lesser-known side-effect of the switch - a rise in house prices.

According to research conducted by real estate agency Savills, the transition to EVs has led to a surge in the prices of houses with off-street parking where charging points can be installed.

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