Today we are going to read about ARK Investment’s Cathie Wood’s most favorite EV stocks, based on Insider Monkey’s latest article. ARK Investment Management LLC was established by Catherine Wood, and the company now manages nearly $50 billion in assets. Woods, the 65-year-old famous investor has become into the limelight with her lucrative bets. ARK investment Fund has reported a respectable 39.74% annualized returns. According to Cathie Woods, new innovations in the automotive sector, especially in electric vehicles have a lucrative future. She said the world moves to the use of electric vehicles. Also mentioning the Chinese automotive manufacturers, Cathie said these Chinese EV firms would be among the new winners of the future. Among these companies, she mentioned XPeng, the electric vehicle company, saying although she doesn’t own stakes in the firm, she expects it competes with Tesla. Cathie also appreciates BYD, another Chinese automotive and battery producer, ARK holds BYD in their strategies. She also mentioned the automobile car company, Geely which purchased Volvo. In Cathie’s opinion, Geely has lots of arresting plans with several companies including the Chinese technology company Baidu, Inc.
And now without a further ado, let’s see what Insider Monkey has investigated for you. NXP Semiconductors N.V. stands on the fourth spot with a total market cap of $54.6 billion. It operates in producing applications and services for electric vehicles. In the last 12 months, NXP managed to reach a respectable 42.57% return and was at $194.39 at the closing of February 12th. ARK Investment Management invested $51.93 million in NXP Semiconductors, purchasing 326,634 of shares.Taiwan Semiconductor Manufacturing Company Limited stands on the second spot of Insider Monkey’s list. Taiwan Semiconductor Manufacturing Company Limited provides semiconductors for electric vehicles. The firm has a market cap of $593.8 billion. In the last 12 months TSM managed to report a 140.68% return and settled at $138.06 per share at the closing of February 12th.ARK Investment has 4,507,394 shares of TSM, with a value of $491.48 million. For more detailed information please click and jump to the best EV stocks to buy according to Cathie Wood.