The electric auto industry is comprised of companies focused on the manufacture of electric cars, trucks, vans, and commercial vehicles, as well as companies that offer electric automobile parts and services. While some traditional automakers also produce electric vehicles, this article focuses on companies considered to be largely pure-play electric vehicle manufacturers. The electric car industry is young and growing quickly. Tesla Inc. (TSLA) is one of the more familiar names, but there are others like Workhorse Group Inc. (WKHS) and Arcimoto Inc. (FUV) that are exhibiting rapid growth.
As a relatively new industry, there is no benchmark for electric car companies. However, electric car stocks can be compared to the broader equity market as represented by the Russell 1000. The Russell 1000 has provided a total return of 21.2% over the past 12 months, as of December 11, 2020. All statistics in the tables below are as of December 14.
Here are the top 3 electric car stocks with the best value, the fastest growth, and the most momentum.
Best Value Electric Car Stocks
These are the electric car stocks with the lowest 12-month trailing price-to-sales (P/S) ratio. For young companies that have not reached profitability, this can provide an idea of how much business you’re getting for each dollar invested.
|Best Value Electric Car Stocks|
|Price ($)||Market Cap ($B)||12-Month Trailing P/S Ratio|
|Kandi Technologies Group Inc. (KNDI)||8.47||0.6||4.2|
|Tesla Inc. (TSLA)||609.99||578.2||21.8|
|NIO Inc. (NIO)||41.98||59.0||25.6|
- Kandi Technologies Group Inc.: Kandi Technologies Group is a China-based company primarily focused on the development and production of electric vehicle products, parts, and off-road vehicles. It produces all-terrain vehicles (ATVs), utility vehicles, go-karts, motorcycles, and other vehicles.
- Tesla Inc.: Tesla is primarily engaged in the design and manufacture of electric cars, SUVs and trucks, as well as electric vehicle powertrain components. The automaker also manufactures and installs solar energy generation and energy storage products. Tesla has become the world's largest automaker by market value due to a 662.5% rise in its stock price since the start of the year. The company has met the criteria for its stock to be included in the S&P 500 Index and will be added to the index before the end of December.
- NIO Inc.: NIO is a China-based manufacturer of smart and connected electric vehicles, and related parts. Its vehicles are equipped with assisted-driving features and next generation technologies. For the month of November, the company delivered a total of 5,291 vehicles, an increase of 109.3% compared to the same period a year ago. Total deliveries for the year amounted to 36,721, up 111.1% compared to the previous year.
Fastest Growing Electric Car Stocks
These are the electric car stocks with the highest year-over-year (YOY) sales growth for the most recent quarter. Rising sales show that a company’s business is growing. This is often used to measure growth of young companies that have not yet reached profitability.
|Fastest Growing Electric Car Stocks|
|Price ($)||Market Cap ($B)||Revenue Growth (%)|
|Workhorse Group Inc. (WKHS)||21.78||2.6||13,160|
|Arcimoto Inc. (FUV)||12.28||0.4||1,950|
|NIO Inc. (NIO)||41.98||59.0||1,497|
- Workhorse Group Inc.: Workhorse Group designs and builds electric vehicles and aircraft, including cargo vans, medium and light-duty pickup trucks, delivery drones, and electric vehicle take-off and landing (eVTOL) aircrafts. The company also designs cloud-based, real-time telematics performance monitoring systems. Workhorse Group posted net sales growth of 13,162.3% in Q3 2020, which ended September 30, 2020. However, the company's net loss widened to $84.1 million from $11.5 million in the year-ago quarter. The company said that 36% of its production-related staff was currently out, either due to contracting COVID-19 or waiting in quarantine for test results.
- Arcimoto Inc.: Arcimoto develops and manufactures three-wheeled electric vehicles. Its three main vehicle designs include: a fun utility vehicle, a vehicle for first responders, and a last-mile delivery vehicle.
- NIO Inc.: See above for company description.
Electric Car Stocks with the Most Momentum
These are the electric car stocks that had the highest total return over the last 12 months.
|Electric Car Stocks with the Most Momentum|
|Price ($)||Market Cap ($B)||12-Month Trailing Total Return (%)|
|NIO Inc. (NIO)||41.98||59.0||1,760|
|Blink Charging Co. (BLNK)||27.24||0.9||1,170|
|Tesla Inc. (TSLA)||609.99||578.2||764.7|
- NIO Inc.: See above for company description.
- Blink Charging Co.: Blink Charging owns and operates electric vehicle charging equipment and a network of charging stations. The company serves residential consumers as well as building owners, parking garages, municipalities, sporting venues, and other public areas. The company announced in late November that it had acquired electric vehicle charging operator U-Go Stations Inc. and its portfolio of 44 direct current fast charging (DCFC) locations. The financial terms of the transaction were not disclosed.
- Tesla Inc.: See above for company description.
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YCharts. "Financial Data." Accessed Dec. 14, 2020.
The Wall Street Journal. "Tesla to Enter S&P 500 at Full Weight in December." Accessed Dec. 14, 2020.
NIO Inc. "NIO Inc. Provides November 2020 Delivery Update." Accessed Dec. 14, 2020.
Workhorse Group Inc. "Workhorse Group Reports Third Quarter 2020 Results." Accessed Dec. 14, 2020.
Blink Charging Co. "Blink Charging Acquires U-Go Charging and its Portfolio of EV Charging Stations." Accessed Dec. 14, 2020.