Home > Best EV Stocks to Buy in June 2021

Best EV Stocks to Buy in June 2021

The growth of electric vehicle companies has accelerated in the past few years, so we’ve searched for the seven best EV stocks that could electrify your investment portfolio. 

Where Can I Buy the Best EV Stocks in June 2021?

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Which EV Stocks to Buy in June 2021?

Here is our list of the top seven EV stocks you can buy this month to ride the growth wave of EV stocks.

1. Tesla Inc. (NASDAQ: TSLA)

Tesla Inc. is an American company that manufactures electric cars, solar roof tiles, solar panels, and energy storage batteries.

Tesla stock gained around 700% in 2020 but is down 16% so far this year. Tesla sold its highest-ever 499,550 vehicles in 2020, up 36% from 2019. In Q1 2021, the company reported 74% higher revenue (of $10.39 billion) and 2,638% higher net income (of $438 million) compared to the same quarter last year. During the quarter, Tesla delivered 184,000 vehicles, which was a new quarterly record for the company.

Tesla CEO Elon Musk expects to achieve average annual growth of 50% in vehicle deliveries in the coming years. Tesla’s Shanghai Gigafactory and its upcoming Berlin and Texas factories — which are expected to start production this year — will contribute to the vehicle deliveries’ growth.

Even though the stock trades at 480x trailing twelve-month earnings, it has lost more than 30% from its peak of $880. The company recently launched the Model S Plaid and is also actively exploring the self-driving, renewable energy, and ride-hailing industries, which leaves plenty of room for growth and improvement.

You can consider purchasing Tesla stock on dips to lower your average cost while riding the growth the EV industry has to offer.

Buy Tesla Inc. shares now >

2. Ford Motor Company (NYSE: F)

American automaker Ford Motor Company shares are up 70% this year, rising from $8.52 to $15.82 per share. In its Q1 2021 earnings report, the company posted revenue of $36.2 billion, net income of $3.3 billion, and adjusted earnings per share of $0.89. Ford sold 27,202 cars, 216,899 SUVs, and 277,233 trucks (which are the company’s high-margin products).

Ford expects that by 2035, electric car sales will account for 40% of the company’s overall sales, for which the company plans to invest $22 billion through 2025. Ford’s EV sales production will decline, possibly by 1.1 million units this year, due to chip shortage after a fire at its Japanese chip supplier Renesas. The company even produced roughly 22,00 vehicles without chips and plans to install them at a later stage.

Despite the short-term challenges, Ford’s fundamentals are strong and the company expects to have navigated the challenges by the first quarter of 2022.

Buy Ford Motor Company shares now >

3. ChargePoint Holdings (NYSE: CHPT)

ChargePoint Holdings is an American company that develops EV charging stations and is currently operating a network of more than 114,000 EV charging stations in 14 countries in North America and Europe. ChargePoint Holdings stock is down 22% this year while it gained 192% over the past 12 months.

In Q1 2021, the company booked revenue of $40.5 million and expects to increase it to $200 million in FY2021 during the next three quarters. ChargePoint Holdings is yet to achieve profitability and — according to analysts — will reach the breakeven point in 2024.

While ChargePoint is in a better position to leverage its strength of operating the largest network of EV stations, competitors like Plug Power and Tesla could give it a tough time. But there is plenty of room for growth as the electric vehicle industry accelerates.

Buy ChargePoint Holdings shares now >

4. General Motors (NYSE: GM)

The share price of American automaker General Motors gained 121% over the last 12 months. The company has recently updated its half-year guidance for earnings, expecting a boost in production from its Flint plant by 1,000 trucks per month and its Wentzville plant by 30,000 trucks. The prioritized production of its high-margin vehicles, the best use of available chips, and earlier-than-expected semiconductor deliveries allowed GM to update the half-year earnings guidance.

In Q1 2021, GM reported revenue of $32.5 billion and net income of $3 billion. Of the $3 billion net earnings, $1.2 billion came from the GM Financial arm of the company. General Motors sold 642,250 new vehicles in the USA at an average price of $40,353 during the first quarter versus 618,335 sold in the same quarter last year. In China, the company sold 780,000 vehicles in Q1 2021 compared with 462,000 sold in Q1 2020.

General Motors’ encouraging results and improved 2021 outlook makes it a suitable EV stock for investment.

Buy General Motors shares now >

5. Nio Inc. (NYSE: NIO)

Nio Inc. is a Chinese electric automaker headquartered in Shanghai. The stock gained a hefty 567% over the past 12 months but has lost about 15% so far this year. In its first-quarter earnings report, Nio reported revenue of 8 billion yuan, up 481% from the year-ago quarter.  During the period, the company delivered 20,060 vehicles, up 423% from the year-ago quarter but slightly lower than the analysts’ prediction of 20,070 vehicles. The company was able to improve its vehicle margin to 21.2% during Q1 2021 compared to 7.4% in Q1 2020, primarily on the back of higher average selling prices and lower material costs.

For Q2 2021, Nio expects to post revenue of 8.1 billion to 8.5 billion yuan and deliver 21,000 to 22,000 vehicles. The encouraging Q1 results coupled with strong growth prospects in Q2 make this EV company a decent candidate for investment.

Buy Nio shares now >

6. Li Auto (NASDAQ: LI)

Chinese electric automaker Li Auto gained 70% over the past 12 months. During the last month, the stock gained 64% as it moved up from $17.01 to $28 per share. In its first-quarter earnings report, the company reported revenue of $545.7 million and expects to increase it to the $609 million to 651 million range in the second quarter. Sales of SUVs during the quarter were 12,579 and deliveries are expected to increase to 15,500 vehicles in Q2 2021.

Li Auto is looking to improve its cash position ahead of the proposed new EV launch by putting forward a $750 million convertible debt offering.

Buy Li Auto shares now >

7. Xpeng (NYSE: XPEV)

Chinese electric automaker Xpeng gained about 66% over the past month while the 52-week gain stands at 95%. In the first quarter of 2021, the company reported revenue of 2.95 billion yuan, up 616% from the year-ago quarter. Vehicle deliveries jumped to 13,340, up 487% from the same quarter last year. In January, Xpeng rolled out an autonomous driving feature for its P7 sedan customers, overtaking its competitors Nio, Li Auto, and Tesla.

For Q2 2021, Xpeng expects revenue of 3.5 billion yuan and vehicle deliveries of 15,500 to 16,000 units.

Buy Xpeng shares now >

Where to buy EV Stocks today?

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Why Buy EV Stocks in June 2021?

Electric vehicle manufacturing is a growing industry, with companies like Tesla pioneering the trend. Most companies in the EV industry are showing double-digit growth with great potential, providing an opportunity for investors to capitalize on the growth of EV stocks.

The Bottom Line

Electric vehicle stocks, such as Tesla, Ford, and Nio have generated explosive returns during the past year on the back of significant progress in manufacturing electric vehicles and developing technology related to the EV industry.

The adoption of electric vehicles is yet to take off, so now might be the best time to invest in EV stocks to ride the possible future returns.

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