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 48.3% over the past 12 months, as of March 10, 2021. All statistics in the tables below are as of March 11, 2021.
Here are the top 3 electric car stocks with the best value, the fastest growth, and the most momentum.
These are the electric car stocks with the lowest 12-month trailing price-to-sales (P/S) ratio. For companies in early stages of development or industries suffering from major shocks, this can be substituted as a rough measure of a business's value. A business with higher sales could eventually produce more profit when it achieves, or returns to, profitability. The price-to-sales ratio shows how much you're paying for the stock for each dollar of sales generated.
|Best Value Electric Car Stocks|
|Price ($)||Market Cap ($B)||12-Month Trailing P/S Ratio|
|Kandi Technologies Group Inc. ( KNDI)||6.69||0.5||3.3|
|Li Auto Inc. ( LI)||23.34||21.1||12.5|
|NIO Inc. ( NIO)||41.32||64.4||20.5|
- 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.
- Li Auto Inc.: Li Auto is a China-based automobile manufacturer. The company designs and develops smart electric sport utility vehicles (SUVs). Li Auto recently reported financial results for its 2020 fiscal year (FY), which ended December 31, 2020. The company reported a net loss of $23.2 million as annual revenue rose 3,225.5%.
- NIO Inc.: NIO is a China-based manufacturer of smart and connected electric vehicles, and related parts. Its vehicles are equipped with assisted-driving features and next generation technologies. The company recently announced financial results for FY 2020, which ended December 31, 2020. NIO reported a net loss as revenue rose 107.8%. The net loss was 53.0% smaller than reported in FY 2019.
These are the electric car stocks with the highest year-over-year (YOY) sales growth for the most recent quarter. Rising sales can help investors pick out growing startups that have not yet reached profitability. In addition, earnings per share can be significantly influenced by accounting factors that may not reflect the overall strength of the business. However, sales growth can also be potentially misleading about the strength of a business, because growing sales on money-losing businesses can be harmful if the company has no plan to reach profitability.
|Fastest Growing Electric Car Stocks|
|Price ($)||Market Cap ($B)||Revenue Growth (%)|
|Workhorse Group Inc. (WKHS)||15.94||2.0||24,830|
|Arcimoto Inc. (FUV)||18.50||0.6||1,950|
|NIO Inc. (NIO)||41.32||64.4||147.7|
- 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 recently announced financial results for FY 2020, which ended December 31, 2020. The company reported annual net income of $69.8 million compared to a net loss of $37.2 million in the previous year. Net sales rose 269.8%.
- 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. The company announced in late January that it has agreed to acquire Tilting Motor Works, the creator of the leading three-wheel conversion kit for touring motorcycles. The transaction is valued at between $9.25 million and $10.25 million and is expected to close during the first quarter of 2021.
- NIO Inc.: See above for company description.
These are the electric car stocks that had the highest total return over the last 12 months.
|Electric Car Stocks with the Most Momentum|
|Price ($)||Market Cap ($B)||12-Month Trailing Total Return (%)|
|GreenPower Motor Co. Inc. ( GP)||25.72||0.5||1,910|
|Blink Charging Co. ( BLNK)||35.35||1.5||1,400|
|Arcimoto Inc. (FUV)||18.50||0.6||1,130|
- GreenPower Motor Co. Inc.: GreenPower Motor is a Canada-based automobile manufacturer. The company manufactures and distributes all-electric transit, school, and charter buses.
- 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.
- Arcimoto Inc.: See above for company description.
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YCharts. "Financial Data." Accessed Mar. 11, 2021.
Li Auto Inc. "Form 20-F for the fiscal year ended December 31, 2020," Page 3. Accessed Mar. 14, 2021.
NIO Inc. "NIO Inc. Reports Unaudited Fourth Quarter and Full Year 2020 Financial Results." Accessed Mar. 14, 2021.
Workhorse Group Inc. "Workhorse Group Reports Fourth Quarter and Full Year 2020 Results." Accessed Mar. 14, 2021.
BusinessWire. "Arcimoto to Acquire Tilting Motor Works." Accessed Mar. 14, 2021.