5 Best EV Stocks To Buy Now

Electric vehicle fans that will soon have an extra $1,400 in their pockets might be wondering which sector stocks deserve their attention.

Here are five EV stocks that are having a better-than-average day.

Canoo Inc. GOEV: EV startup Canoo was in the media spotlight with the unveiling of its fully-electric pickup truck, which will have output ranging up to 600 horsepower and a driving range of more than 200 miles. The company starts taking pre-orders for the production version in the second quarter, with deliveries set to begin in 2023.

See also: How to Buy Electric Vehicle (EV) Stocks

This will be the third vehicle based on Canoo’s multi-purpose platform architecture, dubbed “skateboard,” and will be marketed to commercial customers as well as consumers.

Canoo closed at $14.67, up 13.81%

Li Auto Inc. LI: This Chinese EV company was the subject of initiated coverage from Needham analyst Vincent Yu, who gave it a Buy rating and $37 price target.

Yu praised Li Auto's proprietary technology that enables extended range capabilities along with its focus on vehicle margins and operating efficiencies, stating that the “company's unique value proposition, focused strategy, and diligent margin and costs control, make it a quality asset in the growing EV space.”

Li Auto closed at $26.02, up 11.48%

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Nio Inc. NIO: The Chinese-based manufacturer delivered approximately 43,000 EVs in 2020.

Mizuho Securities analyst Vijay Rakesh gave Nio a glowing writeup with a Buy rating and $60 price target, praising the company as a leader in the “premium automotive EV segment … (in) the largest and most prolific EV market globally,” adding that it “has significant upside as it expands in China, into Europe in 2H21E, and potentially into other markets.”

Nio closed at $46.03, up 11.40%

Tesla Inc TSLA: Did you really think we could have an EV stock article without the rambunctious Elon Musk’s company. One has to wonder whether these EVs are also Teflon-coated – or at least their stocks are.

The company quietly raised the prices on its Model 3 And Model S in a midnight update to its website with nary a peep to the media, but that bit of twilight price tag flipping – which would have dented other companies – didn’t even scratch the stock.

Tesla closed at $699.60, up 4.72%

Worksport Ltd. WKSP: For those stock shopping on the pink sheets, this Canadian company is a leading designer, manufacturer and distributor of tonneau covers for light EV trucks. What differentiates their TerraVis tonneau cover from the competition is the integration of solar panels into the design.

Worksport is teaming with Hercules Electric Mobility Inc. to be a Tier One OEM supply partner for its forthcoming Alpha Electric Pickup, created in partnership with Nissan NSANY. And while these panels are currently not able to independently power an entire journey, the vision is there – and it will certainly help drivers in remote areas where charging stations are scarce.

Worksport closed at $0.36, up 2.13%

Photo by Stan Petersen/Pixabay.