Member-only story
What Are the Best EV Stocks to Buy Right Now? 5 Things to Look Out For Before February 2022
5 Hot EV Stocks to Watch Today
Electric car equities have become entangled in the larger sell-off that has engulfed the stock market. Many growth stocks with high valuations are trading downward, and the EV industry is no exception. As a result, many investors appear to have forgotten about the EV market’s potential. And I can’t say I blame them. While no one can predict how these stocks will perform in the medium term, the recent sell-offs may give investors with a chance to purchase these stocks at significant discounts.
True, there have been a slew of new entrants into the market. At the same time, traditional automakers have made significant expenditures. For example, General Motors (NYSE: GM) recently announced a $7 billion investment in Michigan to develop a battery facility. It also intends to renovate an existing facility west of Detroit in order to begin producing EVs by 2024. Ford (NYSE: F), on the other hand, intends to invest $11.4 billion to develop factories in Kentucky and Tennessee.
As you may be aware, the Biden administration has made electrification of the American vehicle fleet a primary goal. It’s just a matter of time before most of the vehicles we see on the road are totally electric. With this new…
