Which stocks would you invest in for the coming EV boom?
Everyday the universe of EV stocks is growing. EV stocks doesn’t end with just car makers. Electric car stocks also include Battery stocks, EV suppliers, and charging stocks.
The success of the electric car industry has been years in the making, and there’s much more to come.
We found 3 EV Stocks that will change the we live forever and detailed them below..
Hyliion Holdings (HLYN)
Hyliion Holdings Corp. designs, develops, and sells electrified powertrain solutions for the commercial transportation industry.
Their drivetrain — the Hypertruck ERX — is fueled by compressed natural gas (CNG) and/or renewable natural gas (RNG), which are MUCH more green than diesel, which is used by most trucking companies. RNG can even achieve negative emissions.
HYLN’s powertrain also offers other advantages:
-Increases efficiency and reduces cost of gas for truckers by up to 35% (one of the biggest costs for trucking companies)
-Drastically increases pulling power up hills
-Software uses machine learning that optimizes driving patterns, introducing further savings
-A battery that can recharge in 8 minutes, lasts 5x as long as conventional EV batteries.
Hyliion’s powertrains will be an extremely important bridge for the transition from dirty diesel to hydrogen/electric powered vehicles. Hyliion’s product will be able to run on hydrogen in the future. Hyliion has the best battery out there, and can be used for military and commercial purposes.
Hyliion recently reported its third-quarter results, which happens to be its first earnings report since going public. The company recorded $1 million in revenues from delivering 20 trucks equipped with its electronic-axle system. Hyliion’s biggest rewarding point is that it can retrofit its technology on the existing fleets, giving it an upper hand over rivals.
Chargepoint Holdings, Inc (CHPT)
ChargePoint operates the largest online network of independently owned EV charging stations operating in 14 countries and makes the technology used in it
ChargePoint generates revenue mainly from commercial customers such as offices, commercial buildings, hotels, and universities, which typically provide EV charging facilities as a perk to their employees, tenants, or visitors. ChargePoint also focuses on the electrification of large fleets such as those operated by logistics companies or shared mobility providers. And it sells chargers to commercial and residential customers, along with servicing the installed equipment.
CHPT is the largest provider of EV charging stations in the World with more than 100,000 charging ports. Biden’s infrastructure plan calls for 500,000 charging station national wide with a $174B B in the EV market.
Fourth quarter – gross margin was 21.0%, up from 20.4% in the prior year’s fourth quarter. Fourth quarter non-GAAP gross margin was 21.6% compared to 20.5% in the prior year’s fourth quarter. Fiscal year 2021 GAAP gross margin was 22.5%, a 10 percentage point improvement over gross margin of 12.5% in the prior year period. Non-GAAP gross margin for fiscal 2021 was 22.6%, compared to 12.5% in the prior year period.
ChargePoint has been around since 2007 so it has a head start compared to other EV charging stations.
BYD (BYDDF)
BYD offers a full line of medium and heavy-duty battery-electric trucks that are in operation now.
Bloomberg’s Brooke Sample explained it beautifully:
“The value of Berkshire Hathaway Inc.’s holdings in BYD Co. Ltd., one of China’s oldest makers of cars and automotive batteries, has skyrocketed this year: BYD’s share price is up almost 30%. Buffett has backed BYD for over a decade, holding around 22% in the Hong Kong-listed company, which now sits on a market capitalization of over HK$915.6 billion ($117.6 billion).”
“Our second-quarter results reflect the broad-based strength of our business, as we grew both revenue and daily active users at the highest rates we have achieved in the past four years,” said Evan Spiegel, CEO. “We are pleased by the progress our team is making with the development of our augmented reality platform, and we are energized by the many opportunities to grow our community and business around the world.”
Sample also stated that the market cap is bigger than what Nio (NYSE:NIO) has achieved — and that’s saying something because Nio has achieved plenty.
As for following Buffett’s lead, it’s hard to argue against it. In 2020, BYD generated revenue of nearly $24 billion, up over 31%. In the first quarter of 2021, BYD rang up $6.3 billion, up nearly 25% against the year-ago quarter.
