Electric vehicle (EV) stocks are generating significant interest as the world transitions towards sustainable energy. These companies, which manufacture EVs or produce essential components and infrastructure, are poised for growth in this evolving sector. MarketBeat has identified five key EV stocks to watch: Tesla, Li Auto, Enphase Energy, Rivian Automotive, and XPeng.
Tesla (TSLA)
Tesla, Inc. is a well-known company that designs, develops, manufactures, leases, and sells electric vehicles, along with energy generation and storage systems. The company operates in two segments: Automotive and Energy Generation and Storage. The Automotive segment delivers electric vehicles and also provides related services such as non-warranty after-sales support, used vehicle sales, and supercharging. Recent trading information showed Tesla shares down $6.73 during mid-day trading on a Monday, reaching $286.25, with a trading volume of 62,396,264 shares.
Li Auto (LI)
Li Auto Inc. operates in the energy vehicle market in China, and also provides sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment. The company designs, develops, manufactures, and sells premium smart electric vehicles, including MPVs and sport utility vehicles. On a Monday, NASDAQ:LI traded down $3.42, reaching $27.31, with a trading volume of 7,163,793 shares.
Enphase Energy (ENPH)
Enphase Energy, Inc. designs, develops, manufactures, and sells home energy solutions, mainly for the solar photovoltaic industry. The company offers semiconductor-based microinverters that convert energy at the individual solar module level. These are combined with proprietary networking and software technologies to provide energy monitoring and control. ENPH traded down $2.95 on a recent Monday, reaching $54.38, with 3,518,061 shares traded.
Rivian Automotive (RIVN)
Rivian Automotive, Inc. designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a pickup truck and an SUV. On the trading day, RIVN traded down $0.04, hitting $11.80, with a total volume of 14,497,167 shares.
XPeng (XPEV)
XPeng Inc. designs, develops, manufactures, and markets smart electric vehicles in China. Their offerings include SUVs and sedans, alongside services like sales contracts, supercharging, and insurance. XPEV traded down $1.17 during trading hours on a Monday, hitting $20.33, with 8,373,747 shares exchanged.
