![]() Additionally, the stocks were able to exploit positive conditions in the first quarter of 2023, which saw tech stocks surge in response to forecasts of lower interest rates coming down the line. The methodology aims to identify EV companies that both earn revenue and have also grown in recent years. We limited our search to companies who were able to take advantage of this boon by gaining 4% or more in Q1 (that translates to approximately half of the S&P 500’s gains). Q1 2023 performance of 4% or greater: 2023 has thus far been a bumper year for tech stocks, and many EV companies have seen large gains.All the companies increased revenue in 2022 by at least 10%. ![]() To avoid highly speculative companies with little revenue, all companies on the list have at least $25 million in revenue over the prior 12 months ( TTM). Market cap of at least $800 million: With EVs being such an experimental sector and tech stocks as volatile as they are, we have limited our list to companies with a market cap of $800 million or greater.In addition, the stocks must be listed on a North American stock exchange and meet the following requirements: Some of them are years away from being profitable.įor these reasons, our listing of the best EV stocks is built primarily by screening for sales growth and financial health. Its 61,575 electric vehicle sales in 2022 were more than double its 2021 number.īesides certain boldface names-Tesla, for instance-the universe of public EV stocks is thick with scrappy growth stocks that are only a few years or even months post- IPO. ![]() This is particularly true if you believe in the potential of the auto company’s plans around the Mach-E or its ability to continue to make inroads. Depending on your portfolio composition, shares of Ford could offer a safer way to get exposure to the EV market. The low price/sales ratio reflects this.įord doesn’t offer investors the same potential for high returns, but it does offer lower volatility, greater stability and an impressive 4.75% dividend yield. Investing in Ford is very different from buying the shares of many other, newer EV companies on our list-it’s not a growth stock, but a more than 100-year-old company. These numbers were led by its Mustang Mach-E model, which was the third best-selling U.S. sales of electric vehicles, behind Tesla. This API- Key is user-generated using AES-256 encryption, and users can generate a new API Key any time via the IDrive Face web console.Ford may not be the first name that pops into your head when you picture an EV company, but the famous automaker is number two in U.S. Additionally, all API transactions require an API-Key authorization. IDrive Face ensures the security of user data with end-to-end SSL encryption for all API requests.
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