EV-related stocks investors can look at: Kalkine Media explores

September 22, 2022 09:17 AM BST | By Abhishek Sharma
Follow us on Google News:

Highlights:

  • EVs are gaining more interest amid high fuel prices.
  • Electric vehicles are considered to be more economical and cause significantly less pollution.

With fuel prices soaring, electric vehicles or EVs are proving to be an effective alternative mode of transportation. The rise of petrol and diesel prices skyrocketed when global oil prices reached record highs due to the Russia-Ukraine conflict. However, despite the prices coming down in recent months, fuel prices didn't decrease as many retailers did not pass on the cuts to the customers. The high prices are forcing people to look for alternatives.

Today, citizens are contemplating switching to electric vehicles as they are more economical to drive than internal combustion engines. Besides, they cause significantly less damage to the environment due to fewer emissions.

Electric vehicles

Image source: ©2022 Kalkine Media®

Seeing the rising interest, manufacturers are also raising their focus on EVs.

However, while there are benefits to shifting to EVs, it doesn't mean there aren't any challenges. Like petrol and diesel, energy prices have also been rising. This means that charging an EV will also get expensive, though it may still be cheaper than fuel-powered vehicles. Besides, concerns have been raised that the successful shift to electric vehicles may put thousands of jobs at risk because EVs are less complicated to engineer than internal combustion engines. 

Amid the rising interest in EVs, investors can explore the following EV-related stocks listed on the London Stock Exchange.

Ceres Power Holdings plc (LON: CWR)

Ceres Power Holdings is primarily a fuel cell and engineering firm listed on the FTSE AIM UK 50 Index. For the six months ended 30 June 2022, the company posted revenue and other operating income of £9.9 million, significantly lower than the £17.4 million it generated during the same period last year. The gross profit also fell from £12.2 million in H12021 to £5.3 million in H22022. With a market cap of £909.77 million, the CWR's shares were down 12.61% and were trading at GBX 415.00 as of 8:23 am GMT+1 on 22 September.

AFC Energy Plc (LON: AFC)

The Surrey-based company develops hydrogen fuel cells that are used in EV chargers. AFC Energy holds a market cap of £157.34 million, a constituent of the FTSE AIM All-Share index. As of 8:55 am GMT+1 on 22 September, shares of the company were trading at GBX 20.10, down 6.08%.

Pod Point Group Holdings Plc (LON: PODP)

Another prominent EV charging solutions provider, Pod Point Group Holdings Plc, is listed on the FTSE All-Share index and currently holds a market cap of £110.15 million. On Thursday, its shares were trading 0.77% lower at GBX 71.00 as of 8:42 am GMT+1.

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.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.



Top LSE Listed Companies