EV Stocks To Buy Right Now? 4 To Know

4 Top Electric Vehicle Stocks To Watch This Week

Electric Vehicle (EV) stocks have taken the world by storm over the past few years in the stock market. Naturally, the industry started to gain significant traction after Tesla (NASDAQ: TSLA) made its mark and became one of the largest companies in the world. However, with the correction among EV stocks, many investors may view this as an opportunity to buy on the dip. Last week, Barclays (NYSE: BCS) also initiated coverage for some of the leading Chinese EV makers with Overweight ratings. The British multinational bank gave NIO (NYSE: NIO) a price target of $34 and Li Auto (NASDAQ: LI) a price target of $38. 

Furthermore, the Biden administration also recently rolled out a plan to allocate $5 billion over five years to build thousands of electric vehicle charging stations. This will be part of the bipartisan infrastructure package. Also, the Biden administration believes that EVs could be more affordable for Americans than gas-powered cars and has pledged that half the vehicles in the market will be either electric or plug-in hybrids by 2030. So, it would not be surprising that many investors are eyeing the EV sector again. With that said, here are some of the top EV stocks in the stock market today. 

Electric Vehicle Stocks To Buy [Or Sell] This Week

Xpeng

Xpeng is one of China’s leading smart EV companies. Essentially, the company develops smart EVs that are seamlessly integrated with AI and advanced driver assistance technologies. Known for its commitment to in-house research and development, it vows to create a better mobility experience for its customers. As of now, its primary products are environmentally friendly EVs, the G3 SUV, and the P7 sports sedan. Last week, Xpeng announced that it has reached strategic partnerships in the Netherlands and Sweden. Thus, it will be opening its retail stores in Europe. 

In the Netherlands, the company will be collaborating with Emil Frey Nederland NV. Having ties with Emil Frey, one of Europe’s largest automotive retail organizations, will be a huge boost for Xpeng’s retail expansion plans in the region. Meanwhile, the company will be collaborating with Bilia in Sweden. This is the largest automobile dealer and distributor in Sweden. Its high customer satisfaction track record and comprehensive network will fit well with Xpeng’s ambitions to offer localized products and differentiated services to its customers internationally. Considering these exciting developments, would XPEV stock be a good buy right now?

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Fisker

Another highly anticipated EV company among investors and consumers alike would be Fisker. For those unaware, the company is developing a technology-enabled asset-light automotive business model. Despite a slight delay in the production of its Fisker Ocean all-electric SUV, many remain positive that it will be a hit once it reaches the roads. Earlier this month, Fisker announced that it will debut its Fisker Ocean in the European market at Mobile World Congress in Barcelona at the end of this month. Also, the Fisker Ocean will start deliveries in certain European countries and North America following its production in November 2022.

In fact, it recently opened a European office in Munich and is building a brand experience center in Germany. So, its industry-leading warranty will be supported by service centers throughout the region. Besides that, it will be offering at-home vehicle pick-up or Fisker Mobile Service for customers who prefer skilled technicians to come to them. From this new update, we can see that the company not only prioritizes the quality of the EVs. But, it also emphasizes customer service that would attract and retain the trust of its customers. Given these considerations, would you add FSR stock to your portfolio?

Toyota

Similar to many legacy automotive companies, Toyota has also been ramping up its electrification efforts. In detail, Toyota operates in three business segments, automobile, finance, and other businesses. Its Automotive segment engages in the design, manufacture, and sale of sedans, minivans, SUVs, trucks, and related vehicles. Not to mention, it also provides electric vehicles and vehicles equipped with the new Advanced Drive function, driver assistance, or connected cars services. While most of its vehicles today are not fully electric, it has been producing electrified vehicles for many decades. 

In January, Toyota Motor North America announced its end-year 2021 sales. Whether it is hybrids, plug-ins, or fuel cells, the company’s total electrified powered vehicle (EPV) sales increased by 73.2% in 2021. Its EPV sales make up a quarter of the company’s total sales volume. So, the company remains the number one seller of electrified vehicles for the 22nd consecutive year. Besides that, the company also recently announced that it will be committing an additional $90 million for two of its U.S. manufacturing facilities. This will be part of its efforts to expand the production of its electrified vehicles. Lastly, investors should note that its all-electric 2023 Toyota bZ4X will be released in mid-2022. All things considered, would TM stock be a worthwhile investment today?

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Blink Charging

As mentioned earlier, the EV industry is also highly dependent on companies responsible for EV charging infrastructures. Blink is an owner, operator, and provider of EV charging equipment and networked EV charging services. The company offers both residential and commercial EV charging equipment. Thereby, enabling EV drivers to recharge at various location types. For the uninitiated, its Blink Network is a cloud-based software that operates, maintains, and tracks all of theBlink EV charging stations and the associated charging data. 

Last month, Blink announced a cooperation with Bridgestone Retail Operations to deploy 50 Blink IQ 200 charging stations at 25 Firestone Complete Auto Care and Wheel Works tire and automotive service centers. Each of the 25 locations will deploy a dual-port Blink IQ 200 fast level 2 charging station. This partnership would combine Blink’s industry-leading charging technology with the trusted Bridgestone brand to provide drivers with reliable EV charging at trustworthy automotive locations. Over time, as the demand for EVs continues to rise, the demand for charging infrastructures will move hand in hand. With that said, would you consider BLNK stock a top EV stock to buy?

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