The 10 Best EV (Electric Vehicle) Stocks to Buy in 2024

April 9, 2024

A quick but comprehensive rundown of the best EV (electric vehicle) stocks to invest in this year.

Best EV Stocks To Buy/Invest in for 2021

Best EV Stocks to Buy in 2024

Ditch those gas guzzlers, the future is electric! The EV revolution is accelerating, and these stocks are your ticket to ride the lightning. Miss out, and you'll be left in the dust as other investors charge towards profits.

Tesla, Inc. (TSLA)

Dynamic Stock Chart for TICKER TSLA

The undisputed king of EVs. Tesla may be volatile, but its dominance in the market and potential for long-term growth make it a force to be reckoned with.

  • EV Pioneer: They built the brand and the infrastructure, giving them a massive head start.
  • Elon Factor: Musk's decisions and tweets can drive wild price swings, adding to the risk.
  • Competition Rising: Legacy automakers are catching up, and Tesla needs to keep innovating to stay on top.

Rivian Automotive, Inc. (RIVN)

Dynamic Stock Chart for TICKER RIVN

An exciting EV startup focusing on electric trucks and SUVs. They have promising partnerships with Amazon and others, and their focus on the adventure market could set them apart.

  • Amazon Backing: Their huge order from Amazon gives them some stability and future revenue potential.
  • Production Hurdles: Scaling up manufacturing is where many EV startups stumble.
  • Market Potential: Electric trucks and adventure vehicles are a hot segment with less competition (for now).

Lucid Group, Inc. (LCID)

Dynamic Stock Chart for TICKER LCID

A Tesla challenger in the luxury EV space. Lucid boasts sleek styling, impressive range, and cutting-edge technology.

  • Luxury Focus: High-end EVs may have a more stable market than mass-market models.
  • Production Ramp-up: They need to overcome manufacturing challenges to meet demand.
  • Brand Recognition: Still building their reputation, unlike established giants like Tesla.

Nio Inc. (NIO)

Dynamic Stock Chart for TICKER NIO

A major Chinese EV player with ambitions to expand globally. They offer innovative battery-swapping technology, which could be a game-changer if it gains widespread adoption.

  • China Market Leader: Tapping into China's massive EV demand is a significant advantage.
  • Battery Swapping: Could solve range anxiety and speed up 'recharge' times.
  • Geopolitical Risk: Tensions between the US and China could impact their stock.

The New Digital America: How to Profit from the Historic Shift

Texas Oil Stock

A strange new day is coming to America in 2024. The way we shop, travel, communicate, and do business is being reshaped by emerging technologies like AI, blockchain, and cloud computing.

This digital transformation, accelerated by the pandemic, is creating an entire new class of wealth-building opportunities. Stocks that could soar 100% to 500% or more by taking advantage of this "New Digital America."

Legendary Wall Street analyst Marc Chaikin has developed a powerful system to pinpoint these future money-making stocks before the big money piles in. His proprietary "Power Gauge" uses 20 market factors to predict which under-the-radar stocks will be rated a BUY by Wall Street in the months ahead.

Don't miss your chance to get ahead of this massive wealth shift. Follow Marc's #1 stock pick for the New Digital America before it's too late.

Ford Motor Company (F)

Dynamic Stock Chart for TICKER F

A legacy automaker going all-in on EVs. Their iconic Mustang Mach-E is a hit, and they have the manufacturing muscle to become a serious EV contender.

  • Brand Power: The Ford name carries weight, and they have an existing customer base.
  • Transition Challenges: Shifting from gas-powered to electric production is a huge undertaking.
  • Market Opportunity: If they successfully pivot to EVs, their stock could soar.

General Motors Company (GM)

Dynamic Stock Chart for TICKER GM

Another Detroit giant betting its future on electric vehicles. They're investing heavily in EV technology and have ambitious plans to roll out a wide range of electric models.

  • Manufacturing Expertise: GM knows how to build cars at scale, which is key in the EV game.
  • Legacy Baggage: Their old-school reputation could be a hurdle in attracting some EV buyers.
  • Brand Portfolio: Their diverse brands allow them to target various market segments with EVs.

Xpeng Inc. (XPEV)

Dynamic Stock Chart for TICKER XPEV

A Chinese EV company focused on technology-driven vehicles. They're targeting younger buyers with advanced features and a focus on autonomous driving capabilities.

  • Tech Innovation: Their emphasis on self-driving tech could pay off big if they succeed.
  • Market Focus: Targeting younger Chinese consumers is a smart play in a huge market.
  • Competition: The Chinese EV space is crowded, and they need to stand out to thrive.

Li Auto Inc. (LI)

Dynamic Stock Chart for TICKER LI

Another Chinese EV automaker with a growing lineup of vehicles. They're focused on offering premium features and competitive pricing to expand their market share.

  • Value Proposition: Aiming for the sweet spot between luxury and affordability.
  • China Focus: The domestic market is huge, but they may have global ambitions later on.
  • Differentiation: They need to carve out a clear niche in China's competitive EV landscape.

Fisker Inc. (FSR)

Dynamic Stock Chart for TICKER FSR An EV startup with a focus on design and sustainability. They've partnered with manufacturing giant Magna Steyr https://www.magnasteyr.com/ to outsource production, potentially reducing their risk.

  • Design Edge: Their vehicles boast unique styling, which could attract attention.
  • Outsourcing Model: Partnering for manufacturing could allow them to scale faster.
  • Unproven Concept: They still need to prove they can deliver vehicles on time and profitably.

Canoo Inc. (GOEV)

Dynamic Stock Chart for TICKER GOEV

An EV company targeting commercial and lifestyle vehicles with futuristic designs. Their focus on subscription models and unique features make them a wildcard in the EV race.

  • Niche Market: Focusing on vans and lifestyle vehicles could pay off if they gain traction.
  • Subscription Approach: A different business model that could disrupt traditional ownership.
  • High Risk: Their success depends on their vehicles being truly unique and in demand.

The Bottom Line

The EV revolution is unstoppable! These stocks offer a mix of established players and bold newcomers, but they all have the potential to supercharge your portfolio.

Do your own research – the road to EV profits is paved with homework. Miss out on this electrifying revolution, and you'll be kicking yourself as others speed past.

About the author 

Jenna Lofton, an expert in stock trading, investing, and financial planning, combines over a decade of experience with rigorous academic training. Holding dual MBAs in Finance and Business Administration from the University of Maryland, Jenna's expertise is grounded in a deep understanding of the financial markets. Her career, which started on Wall Street, has evolved into empowering others through her insights and analyses in the dynamic world of finance.


Based in New York City, Jenna's approach is informed by her hands-on experience as a former financial advisor and her keen observation of market trends. She is known for translating complex financial concepts into actionable strategies, making her a valuable resource for both seasoned investors and newcomers to the stock market. Her commitment to financial literacy and her ability to demystify investment principles have made her a respected and authoritative voice in the investment community.

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