Are These The Best EV Stocks To Buy In September 2021?
Like it or not, electric vehicle (EV) stocks remain hot stocks to buy in the stock market today. By and large, this would be the case as EVs represent a logical next step for the global automotive industry. Without going into too much detail, EVs are a much more environmentally sustainable means of transportation for the general public. As a result, some would argue that the industry will likely see long-term growth, given the current climate crisis. For now, the current bull thesis surrounding EV stocks would be from the angle of early adopters. With global combustion engine vehicle sales still outpacing that of EVs globally, I can understand the current hype.
Sure, as with most upcoming industries, there are ups and downs. For instance, investors may be selling off some of the biggest names in the Chinese EV market now. As a result, the likes of Nio (NYSE: NIO) and Xpeng (NYSE: XPEV) are under pressure. This would be due to recent mentions of sector consolidations by China’s Ministry of Industry and Information Tech. However, Tu Le, founder of Beijing-based investment firm Sino Auto Insights, had some positive things to say.
According to Le, both of these companies along with other leading names would stand to gain from any consolidation activity. His reasoning is as such, “it’ll eliminate potential competitors and perhaps allow them to acquire a team or technology to enhance their products.” Whether you are with Le or are keener on domestic names such as General Motors (NYSE: GM), there are plenty of options to choose from now. Could one of these three companies be top picks in the stock market this week?
Top EV Stocks To Buy [Or Sell] In September 2021
- Ford Motor Company (NYSE: F)
- Tesla Inc. (NASDAQ: TSLA)
- Lucid Group Inc. (NASDAQ: LCID)
Ford Motor Company
To begin with, we will be taking a look at the Ford Motor Company. For the most part, consumers and investors alike would be familiar with the company’s work. After all, Ford is an automobile industry giant that has been around for over a century. Through its global sales network, the company offers a wide variety of automobiles and commercial vehicles. The likes of which range from its Ford brand to its luxury Lincoln brand. Among its latest ventures would be the push towards EVs. Given Ford’s experience and massive operations, investors could be looking at F stock now.
As it stands, F stock currently trades at $12.78 as of 1:49 p.m. ET. This would be after gaining by over 45% year-to-date. Despite all of this, the company does not seem to be slowing down anytime soon. Namely, Ford is planning to invest $2 billion towards restructuring its operations in India. The current plan would include bolstering its massive salaried employee base of over 11,000 in India. According to Ford CEO Jim Farley, the company is looking to focus on engineering, tech, and business operations in the region.
At the same time, Ford is also looking to shut down two of its production plants in India. Seeing as the plants reported over $2 billion in operating losses over the past decade, this move makes sense. Overall, Farley highlighted that all of this further supports the company’s Ford+ plan. The likes of which he believes will serve to drive sustainable long-term growth for Ford. Given all of this, will you be investing in F stock now?
Read More
Tesla Inc.
Next up, we have Tesla, an EV company with headquarters in California. The company designs and manufactures EVs and battery energy storage systems for its customers. Its subsidiary Tesla Energy is a major installer of photovoltaic systems in the U.S. Impressively, it is also one of the largest global suppliers of battery energy storage systems, with 3 gigawatt-hours installed in 2020. Also, the company says that its customers have helped accelerate the world’s transition to sustainable energy by avoiding 5 million metric tons of CO2e emissions in 2020. TSLA stock currently trades at $730.41 as of 1:49 p.m. ET.
The company says that it produces the most efficient EVs in the market. Furthermore, as it continues to develop its technology, its vehicles’ efficiency will improve further as well. It also boasts an impressive battery pack design that can be recycled and claims that up to 92% of its raw metals can be reused. Ultimately, the company’s transportation ecosystem is fully vertically integrated and it can continue to create affordable products that work together. It also creates a safer transportation system with its Autopilot feature that has reduced accidents when compared with the U.S. average.
In late July, the company reported its second-quarter financials for 2021. Diving in, Tesla says that it broke new and notable records. Notably, it produced and delivered over 200,000 vehicles and exceeded a GAAP net income of $1 billion for the first time in the company’s history. It also ended the quarter with $16.2 billion in cash and cash equivalents. All things considered, will you buy TSLA stock?
[Read More] Top Reddit Stocks To Buy Right Now? 5 For Your Late 2021 Watchlist
Lucid Group Inc.
Next up, we have Lucid Group, which has its luxury line of EVs. The company’s first car, Lucid Air, is a state-of-the-art luxury sedan with a design underpinned by race-proven technology. With a max horsepower of 1,080 and a range of over 500 miles per charge, the company’s flagship model will be able to reach 0 to 60 mph in 2.5 seconds. LCID stock currently trades at $20.12 apiece as of 1:49 p.m. ET and has more than doubled in valuation year-to-date.
On August 31, 2021, the company announced its production preview week at Advanced Manufacturing Plant (AMP-1), a series of events in the week of September 27, 2021, during which Lucid will open the doors of its AMP-1 factory at Casa Grande to media and financial communities. Invited guests will be able to observe the production processes of the Lucid Air and take a deep dive into its advanced EV technology with leading engineers.
It also announced that its limited-run Lucid Air Dream Edition will be produced in two distinct versions, the Dream Edition Performance, and the Dream Edition Range. Its Dream Edition Performance will feature a powertrain optimized for speed and acceleration, while its Dream Edition Range will focus on maximizing range. For these reasons, will you consider adding LCID stock to your portfolio?
