As governments become increasingly concerned with the environment, they are taking steps to protect it and they are offering perks and tax exemptions for buying electric vehicles. As a result, electric vehicles are selling well each year. EV proliferation has led to the emergence of charging companies for EVs as well. Investors are now flocking to EV stocks to buy.
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When it comes to investing in the EV market, you need to take a step back from what is being reported in the mainstream media. A new report says that even though the EV market is worth $1656.9 billion, it is just nascent and on the rise. In 2027, EVs will be worth $2495.4 billion, growing at a compound annual growth rate of 33.6%.
To get a better understanding of why EV stocks to buy are growing so rapidly, let’s look at what is driving their growth.
Investing in EV stocks to buy can be easier if we take into account the few fundamentals and variables that are driving the market’s growth.
Thus, green energy and zero-emission sustainability are the major drivers influencing the Electric Vehicle market. A variety of government policies and regulations are being formulated to encourage the adoption of EVs. Sources of batteries have become less expensive thanks to the free market. To create a profitable EV business, OEMs are investing heavily.
Due to all the factors listed above, EV stocks will have a great opportunity. Thus, there are several attractive EV stocks to buy with high growth potential.
The Tesla Inc:
The price of The Tesla Inc. (TSLA) moved up by $46.67 during the normal trading session on Tuesday to trade at $922.43. The Tesla Inc. (TSLA) stock has a trading volume of 19.08 million shares, which is low, compared to its average daily volume of 26.32M shares.
Tesla Inc.’s (NASDAQ: TSLA) share prices have increased by 0.05% over the past week, but are down -8.98% in the last quarter. Going further back, the stock’s price has gone over 38.56% over the last 6 months but is down -12.71% in year-to-date trading.
Rivian Automotive Inc:
Rivian Automotive Inc.(RIVN) kicked off the trading day on 02/15/22 with a price increase of 5.81%, equivalent to a $3.64 relative change for the day. Taking a more long-term approach, RIVN had a 52-week range of $50.00 to $179.47. At the time of this article’s publishing, this stock is trading at $66.29.
RIVN stock has achieved a 5-day range of $57.70 to $68.98, with a total performance of +8.76% during that period. Meanwhile, in the past month of trading, this stock has traded in the range of $50.00 to $77.84, generating a -17.09% change during the period. In the past three months, this stock’s price has changed by -55.62%, trading in the range of $50.00 to $179.47.
NIO Inc:
NIO Inc. (NIO) is priced at $25.79 after the most recent trading session. The stock price was reached a high price of $25.8401, prior to closing the session it reached the value of $25.79. The stock touched a low price of $24.20.
In terms of its performance, NIO is down -55.01% over the past year, and it is up 4.46% over the last week. The stock’s price index is -16.67% lower over one month and -36.43% lower over three months. It is showing a -32.31% return in the past six months.
