Market Overview

Smaller Firms Look To Make A Splash In The Booming EV Space

Share:
Smaller Firms Look To Make A Splash In The Booming EV Space

2020 has been an absurd year in many ways, but it has been a fantastic year for some lucky industries such as e-commerce and electric vehicles. Tesla (NASDAQ: TSLA), NIO (NYSE: NIO) and newcomer Li Automobile (NYSE: LI) have seen their share price explode by 409%, 1158% and 84% since January.

As if these triple digits weren't impressive enough, even more upside is expected. Xpeng Inc (NYSE: XPEV), a relative newcomer, has seen tremendous success in a short amount of time as it literally carved out its own demand. Li Auto, that was founded in 2015, quickly made waves on Wall Street as it hit NASDAQ in July, with its stock price more than doubling since. This revolutionary playfield is getting abundant with new entrants, and its hard to separate the potential of these companies from the hype.

Still, many small companies are looking to make a name for themselves in the field through innovative products and potentially revolutionary approaches to green transportation.

EVs were one of the main topics at Benzinga's Small Cap Event

Several such companies took center stage during a virtual conference that Benzinga held on December 8th-9th.

Ideanomics (OTC: IDEX) highlighted its EV and fintech subsidiaries. CEO Alf Poor said the King of Malaysia invested in one of the company subsidiaries and that the company plans on entering the commercial fleet market and selling school buses in Europe.

Electrameccanica Vehicles (OTC: SOLO) said it's capturing the space between passenger vehicles and micromobility as it began production in August, while expanding its retail footprint with 10 existing locations.

Worksport (OTC: WKSP) presented its revolutionary solar-powered tonneau covers as part of its TerraVis technology. The beauty of this groundbreaking system is that it will be able to enhance any existing pickup truck as well as eliminate range and plug-in anxiety of upcoming electric pickups. CEO Steven Rossi will also be presenting at the 13th annual LD Micro Main Event on Wednesday, December 14.

EV Charging

Another thriving component of the EV space is the charging infrastructure needed to support the new generations of green tech.

This has put companies like Blink (NASDAQ: BLNK) in high demand. The charging company has risen over 1,400% since the beginning of the year.

Plug Power Inc. (NASDAQ: PLUG) is another infrastructure player which entered a deal with Apex Clean Energy to develop a green hydrogen network using wind powers so it can tap into very low-cost renewable power. Moreover, this cooperation will allow the company to accelerate the shift to clean energy as its goal is for over 50% of its hydrogen supplies to be generated from renewable sources by 2024. It also revealed it partnered with Universal Hydrogen to build commercially viable hydrogen fuel-cell based propulsion system that is designed to power commercial aircrafts.

Workhorse Group (NASDAQ: WKHS) might be more of a business provider as opposed to consumer-focused brand, bu  that is not a bad thing considering the potential future of the EV industry. Although its deal with United States Postal Service has been delayed, it's still pulling a lot of high retail deals. Since January, its stock price has skyrocketed 541%.

It seems the sky is the limit

The EV revolution has only just begun and it is expected to grow exponentially as the technology becomes cheaper to produce and more prominent throughout the world's transportation infrastructures.

This article is not a press release and is contributed by IAM Newswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com

The post The Sky Is the Limit for EVs appeared first on IAM Newswire.

 

Related Articles (BLNK + IDEX)

View Comments and Join the Discussion!

Posted-In: electric vehicles IAM NewswirePenny Stocks Small Cap Markets Tech