As part of the European Green Deal, the European Commission set lofty goals, including a 55 percent reduction in carbon emissions by 2030. The news has boosted American electric vehicle stocks with a growing presence in Europe, such as Tesla and ChargePoint Holdings, Inc. Finance experts are optimistic about the electric vehicle industry’s long-term prospects. Tesla, ChargePoint, and CHPT all announced great quarterly results recently. According to the research, EV sales increased by 140 percent year over year in the first quarter of 2021. Tesla, Inc. has a market capitalization that exceeds the combined value of the US and European automobile industry. There’s also a lot of talk about certain analysts overvaluing the company. The stock price of the electric vehicle manufacturer often discourages individuals who cannot afford it. On August 10, GLJ Research issued a pessimistic forecast for Tesla, Inc. However, there are just as many supporters of the electric vehicle manufacturer as there are those who believe in its future growth. This month, the electric vehicle manufacturer is likely to post higher-than-expected sales in China.
Here is Insider Monkey’s list of the 10 cheap EV stocks to buy now. BYD Company Limited is a Chinese automaker that manufactures and sells vehicles worldwide. On the list of 10 cheap EV stocks to purchase right now, it ranks tenth. In terms of sales, the company is one of China’s largest electric vehicle companies. Ideanomics, Inc. is a New York-based company that provides services to make electric car adoption easier for businesses and consumers. Arrival is ranked eighth on the list of the top ten inexpensive electric vehicle stocks to purchase right now. Commercial electric cars and buses are designed, assembled, and distributed by the corporation. Arrival is one of the greatest EV stocks to avoid if you don’t want to invest in Tesla. Canoo Inc. is ranked seventh. The firm is based in California and produces and sells electric automobiles. Canoo declared that it would focus on constructing a giant plant in the United States. Li Auto Inc. is a Chinese electric SUV manufacturer and seller. On August 12, the firm made its Hong Kong Stock Exchange debut, with the stock falling 2.1 percent during trade and finishing the day down 0.7 percent. For more details, click 10 Cheap EV Stocks To Buy Now.
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