Electric vehicles are now among the hottest segments of the stock market. Tesla (NASDAQ: TSLA) leads the way, but NIO Inc (NYSE: NIO), Nikola Corporation (NASDAQ: NKLA), Blink Charging (NASDAQ: BLNK), and Workhorse (NASDAQ: WKHS) are all contenders for the market's attention right now. Plus, there are a number of high-profile private companies that could go public soon and nearly every major automaker has made a push into EVs.
By most accounts, these stocks look expensive. Price to sales ratios look more like those of tech stocks than manufacturing companies -- but there's also reason to think these growth stocks are worth paying for if you're willing to wait for the EV industry to mature.
Image source: NIO.