TSLA to LCID: 5 EV stocks to explore in Q3 after Fed’s rate hike

Highlights:

• Tesla, Inc.’s (NASDAQ: TSLA) revenue rose 81% YoY in Q1, FY22.
• Nio Inc. (NYSE: NIO) revenue increased by 24% YoY in the first quarter of fiscal 2022.
• XPeng Inc. (NYSE: XPEV) revenue jumped 152% YoY in Q1, FY22.

Electric vehicle stocks are companies that produce EVs, EV parts and batteries. The growing climate concerns are driving sales in the EV industry.

According to the US Environmental Protection Agency (EPA), the transportation sector had contributed 27% of the country’s greenhouse emissions in 2020.

But another factor for EV growth lately is the rising fuel costs. US gasoline prices recently climbed to around US$5 per gallon, the biggest increase in years.

Additionally, the government plans to move towards renewable-energy-powered vehicles from the pollution-emitting fossil fuel automobiles phase-wise by 2040.

The following are five electric vehicle stocks that may be worth exploring in Q3.

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Tesla, Inc. (NASDAQ: TSLA)

Tesla is a leading electric vehicle manufacturer based in Austin, Texas. It also produces EV batteries, energy storage systems, and solar panels.

TSLA shares traded at US$680.57 at 2:00 pm ET on June 15, up 2.70% from their previous close. Its stock price decreased by around 44% YTD.

Tesla has a market cap of US$707.08 billion, a P/E ratio of 92.61, and a forward one-year P/E ratio of 64.65. Its EPS is US$7.37. The 52-week highest and lowest stock prices were US$1,243.49 and US$593.50, respectively. Its trading volume was 32,662,930 on June 14.

The company posted revenue of US$18.75 billion in Q1, FY22, an increase of 81% YoY. Its GAAP net income attributable to common stockholders came in at US$3.31 billion, or US$2.86 per share, against an income of US$438 million, or US$0.39 per share, in Q1, FY21.

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Source: Pixabay

Nio Inc. (NYSE: NIO)

Nio is a Chinese EV manufacturer based in Shanghai.

Its stock traded at US$19.47 at 2:05 pm ET on June 15, up 4.34% from its previous close. The NIO stock fell 44.25% YTD.

Its market cap is US$32.91 billion, and the forward one-year P/E ratio is -27.04. Its EPS is US$-0.74.

The stock touched the highest price of US$55.13 and the lowest price of US$11.67 in the last 52 weeks. Its share volume on June 14 was 105,582,700.

The revenue surged 24.2% YoY to RMB 9.91 billion (US$1.56 billion) in Q1, FY22. Its net loss was RMB 1.78 billion (US$281.2 million) against a loss of RMB 451 million (US$67.2 million) in Q1, FY21.

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Lucid Group, Inc. (NASDAQ: LCID)

Newark, California-based Lucid manufacturers EVs, powertrains, etc.

The company’s shares traded at US$16.92 at 2:11 pm ET on June 15, up 1.93% from their closing price of June 14. Its stock value declined 59.44% YTD.

The firm has a market cap of US$28.52 billion and a forward one-year P/E ratio of -14.43. The 52-week highest and lowest stock prices were US$57.75 and US$13.25, respectively. Its trading volume was 15,723,080 on June 14.

The company reported a revenue of US$57.67 million in Q1, FY22, compared to US$313,000 in the year-ago quarter. Its net and comprehensive loss came in at US$81.28 million, against a loss of US$747.95 million in Q1, FY21.

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XPeng Inc. (NYSE: XPEV)

Xpeng is a Chinese EV maker based in Guangzhou.

The stock traded at US$26.43 at 2:16 pm ET on June 15, up 2.64% from its previous closing price. The XPEV stock plunged 48.78% YTD.

Its market cap is US$22.52 billion, and the forward one-year P/E ratio is -18.13. Its EPS is US$-1.08.

The stock touched a peak price of US$56.45 and the lowest price of US$18.01 in the last 52 weeks. Its share volume on June 14 was 12,202,500.

The company's revenue soared 152.6% YoY to RMB 7.45 billion (US$1.17 billion) in Q1, FY22. Its net loss was RMB 1.70 billion (US$268.3 million), compared to a loss of RMB 786.6 million (US$117.17) in Q1, FY21.

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Rivian Automotive Inc. (NASDAQ: RIVN)

Rivian is an electric vehicle manufacturer based in Irvine, California. It debuted in the US market with one of the biggest IPOs in 2021.

Its shares traded at US$28.83 at 2:23 pm ET on June 15, up 5.60% from their closing price of June 14. Its stock value decreased by 73.42% YTD.

Rivian has a market cap of US$25.36 billion and a forward one-year P/E ratio of -4.27. The 52-week highest and lowest stock prices were US$179.47 and US$19.25, respectively. Its trading volume was 16,104,430 on June 14.

The company reported a revenue of US$95 million in the first quarter of fiscal 2022, compared to zero revenue in Q1, FY21. Its net loss came in at US$1.59 billion, or US$1.77 per share, compared to a loss of US$414 million in the year-ago quarter.

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Bottom line:

The stock market has been highly volatile this year. The EV stocks have also retreated in the backdrop of various macroeconomic constraints. Hence, investors should carefully evaluate the companies before investing in stocks.

META TAGS: US EV stocks, electric vehicle stocks, electric vehicle industry, global warming, Tesla Inc., TSLA stock, Nio Inc., NIO stock, Lucid Group Inc., LCID stock, XPeng Inc., XPEV stock, Rivian Automotive Inc., RIVN stock