LICY - 3 EV Stocks to Buy Now Besides Tesla
2023-04-16 06:00:00 ET
Tesla (NASDAQ: TSLA) stock has been a winner so far in 2023, surging 51% year to date (though it's still down by almost 50% from where it started 2022). But concerns about the impact of its recent vehicle price cuts and intensifying competition in the electric vehicle (EV) space may lead some investors to search for other ways to invest in the EV trend.
One option would be to build a diversified portfolio of EV automakers. Another would be to invest in companies that support the EV industry, which would provide a catch-all way to benefit from growing EV adoption without banking on the success of specific automakers.
ON Semiconductor (NASDAQ: ON) , Li-Cycle Holdings (NYSE: LICY) , and an exchange-traded fund (ETF) -- the Global X Autonomous & Electric Vehicles ETF (NASDAQ: DRIV) -- offer three out-of-the-box ways to invest in various aspects of the EV industry . Here's why each opportunity is worth considering now.
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3 EV Stocks to Buy Now Besides Tesla