The rising inflation rates, the subsequent rise in oil prices, and the growing concern about the depletion of the environment have led to many people opting for electric vehicles (EVs) in recent years. They offer a more sustainable, carbon-neutral approach to transportation and are gentler on the pocket, too.
However, the EV industry offers a lot more than just the option of buying an electric vehicle. Investing in EV companies is a great way to leverage the progress these companies make. This list of cheapest EV stocks will help you invest in stocks that are sure to bring returns:
Tesla Inc. (TSLA)
Their flagship innovation and out-of-the-box features have gained them plenty of popularity and for all the right reasons. Tesla has a geographically diversified spread and has been making plans to capture market attention and demand.
The company is constantly investing its profits in its new facilities to ensure consistency in the quality of its EVs. Furthermore, Tesla has been responsible for revolutionizing the automotive industry, and their performance in the market has been a testament to this change. Their stocks are scalable, making them a practical purchase. Currently, the TSLA shares are priced at 227.22 USD.
Volkswagen AG (OTC: VWAGY)
Electric vehicles are the best bet for anyone looking at the future and aiming to invest in an industry with growth potential. They are dividend stocks aiming to grow their value and benefit the company and its shareholders.
Volkswagen is known for creating fast, safe, and reliable vehicles, and its electric vehicles have truly been taking the plunge to add more value to the company. The company sold 231,600 EVs last year, and they are looking to multiply this number further.
While the auto company decided to join the EVs party late, it is remarkable how the company is aggressively chasing the game and giving tough competition to existing contenders. Volkswagen AG (OTC: VWAGY) is currently at 132.75 USD and is a buy if you are looking for a stock with future growth potential.
Li Auto Inc. (LI)
Unlike the other big names on the list, if you are looking for something small but incredibly competitive and reliable to invest in, then Li Auto Inc. (LI) is worth the investment. The company is based in China but has a presence in the US market.
The EV maker is the perfect combination of good values and real-time strong growth. The company was engaged in delivering a high volume of electric vehicles in the years 2022 and 2023 and intends to triple these numbers in the coming years. The company makes battery-powered vehicles that have a built-in gasoline-powered generator to add more convenience for the user. The share price for Li Auto Inc. (LI) is currently at 32.31 USD.
Aptiv PLC (APTV)
A leading global technology company that is known for its trademark innovation and high-performance vehicles. The range of parts and components designed by Aptiv PLC (APTV) is used and appreciated by seasoned professionals in the automotive industry.
Aptiv is highly engaged in delivering smart end-to-end solutions in the mobility industry, autonomous driving tech, and mobility solutions. The brand has strong earning metrics, and its shares are constantly growing. The stock is great for EV enthusiasts who are also looking to leverage the profits from automotive part makers.
As the industry is set to rise significantly in the future, investing in these stocks will also add steady value to your portfolio. The share price for Aptiv PLC (APTV) is at 83.60 USD and follows an upward trend.
Albemarle Corp. (ALB)
Lithium batteries are a vital component of any electric vehicle. They make the power cells that are responsible for driving the electric vehicles. Albemarle Corp. (ALB) is a reliable share that you can add to your portfolio to gain future returns. The company is involved in the production of lithium salt brine deposits in regions of Chile and the U.S. Current price for Albemarle Corp. (ALB) is 128.65 USD, and it’s a worthy investment for long-term profits.
Bottomline
Electric vehicles are set to become a future option for many who are seeking respite from inflation and rising fuel prices. However, if you are on the lookout to earn profits from the growth of this industry, then investing in EV stocks can be the way to go. EV makers and related companies are sure to have future growth together, and they are worth every penny you invest. Even if the market may seem volatile on some days, rest assured that these stocks will consistently grow in years to come.
