RIVN - 5 EV Stocks In The Spotlight (That Are Not Tesla)

2024-04-12 09:01:00 ET

Summary

• Tesla gets the most attention in the electric vehicle industry, but there are other EV companies worth considering for investors.
• BYD, the largest EV company in the world by sales volumes, offers profitable growth and a significant scale advantage.
• XPeng, Li Auto, Xiaomi and Rivian also are promising EV players with unique approaches and growth potential.

Article Thesis

The electric vehicle industry appeals to many investors, but one company - Tesla ( TSLA ) - is getting most of the attention, partially due to ambitious goals when it comes to developing autonomous driving vehicles and robotaxis . But there are many other EV companies that could be of interest to investors as well. In this article, we take a look at five of these companies.

Industry Overview

While the majority of vehicles being sold around the world are still using internal combustion engines, the ratio of electric vehicles, relative to all vehicles sold, continues to climb. In the last couple of months, EV sales growth has been a bit below estimates, with reasons being uncertainties around government subsidies, high prices, and consumers being reluctant to spend big bucks on consumer items in a higher interest rate environment....

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