In 2021, China and Europe will have sold 1.2 million and 1.4 million electric vehicles, respectively, due to an increase in the number of reservations for these vehicles. Many traditional automakers have also invested heavily in the development of new electric models in order to meet the growing demand. According to estimates, electric vehicles will account for 48 percent of all new car sales by 2030. As new entrants take hold of the market, the electric vehicle sector is expected to deliver IPOs worth $100 billion by the end of 2023.
Here is Insider Monkey’s list of 1o electric car stocks to buy for 2022. A California-based electric vehicle manufacturer, Rivian Automotive, Inc., has been operating since 2009. Batteries made in-house by the company will also reduce the company’s reliance on market supply chains. SUV, pickup truck and delivery van are among its upcoming electric vehicle models. 87 percent increase in Citadel Investment Group’s stake in Lordstown Motors Corp. Insider Monkey tracked 12 hedge funds with $25.92 million in stakes in the company in the third quarter. There will be an electric minivan from Canoo Inc. on the market by 2022. Commercial vehicles for ride-sharing and rental services are included in the product line. The company reported a loss per share of $0.47 in the third quarter, which was in line with analysts’ expectations. An electric vehicle manufacturer located in Phoenix, Arizona, Nikola Corporation was founded in 2012. First electric trucks are expected to be delivered in the fourth quarter of 2021. Nikola Corporation released its third-quarter financial results on November 4th, showing a loss per share of $0.22. Fisker Inc. was owned by a total of 15 hedge funds at the end of the third quarter, with a total value of $228.1 million. This compares to the previous quarter when 16 funds owned stakes totaling $256.2 million invested in the company. For more details, click 10 Electric Car Stocks To Buy For 2022.