Nearly three times as many electric vehicles were sold in 2021 as there were in 2019. Around 16 million electric vehicles are now on the road, according to the International Energy Agency. China has a significant lead over the rest of the world in the adoption of electric vehicles. A target of 20% of the Chinese car market share for EVs by 2025 has been set by the Chinese government. Electric car sales increased by 70% and 100% in the United States and Europe, respectively. Tesla and Stellantis are two of the best EV stocks to invest in right now.
Insider Monkey highlights the 10 auto companies that sold the most EVs in 2021. Automaker Ford Motor Company is based in Michigan and produces automobiles. Hedge funds love it because it’s one of their favorite auto stocks. Ford Motor Company was the subject of a $1.6 billion hedge fund investment at the end of the third quarter in 2021. Toyota’s lofty EV ambitions aren’t reflected in the hedge fund sentiment surrounding the company. A total of 10 hedge funds had $876 million invested in Toyota Motor Corp. at the end of the third quarter of 2019. NIO Inc. creates and distributes intelligent electric vehicles. Chinese authorities are cracking down on dual-listed companies, which is one of the stocks that has taken a beating. In contrast to other Chinese companies, there hasn’t been a mass exodus of hedge funds from the stock. This is the second Chinese electric vehicle manufacturer to make headlines as the country’s EV sales soar. Xpereng Inc. Deliveries of electric vehicles from the company in January were up by 115% compared to the same month in 2021. There were 47,872 sales of retail units in the United States in January, Hyundai Motor Company announced. Venue, Tucson, Palisade, and Ioniq were some of the models that shattered sales records. For more details, click 10 Auto Companies That Sold The Most EVs In 2021.
