Summary: The electric vehicle (EV) market is rapidly growing, and investing in EV stocks has become an attractive opportunity. In this guide, we present the 3 best EV truck stocks to consider adding to your portfolio in 2023. To invest in the stocks on our list, investors can open an account at an online stock trading platform such as eToro.
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What are EV truck stocks?
EV truck stocks are shares of car companies involved in the electric truck industry, that is, companies that manufacture, develop, or provide services related to electric trucks.
As interest in EVs continues to grow, the market for electric trucks is bound to evolve and grow as well, with several automakers working on developing cutting-edge models. Consequently, by diving into EV truck stocks, you stand to potentially benefit from a new and thriving market.
The popularity of electric trucks is mainly driven by increased environmental awareness and climate change. Governments and consumers are looking for ways to reduce their carbon footprint, and large automakers are stepping up to the challenge. Traditional companies like Ford and General Motors, as well as newcomers like Rivian Automotive, are competing to bring electric trucks and SUVs to the market.
Note
1. Top 5 electric car battery stocks;
2. How to buy self-driving car stocks;
3. Top 3 EV penny stocks to buy;
4. Top 3 Chinese electric car company stocks to buy.
3 Best EV Truck Stocks
With the evolving landscape of the automotive industry, considering EV truck stocks can provide great potential for your investment portfolio. However, it’s important to remain informed and equipped with the knowledge required to make sound decisions. By focusing on the top players in the industry, for example, you’ll be well on your way to capitalizing on the electric pickup truck boom and maximizing your investment returns.
The top 3 EV truck stocks to consider adding to your portfolio include:
1. Tesla
When investing in EV stocks, it’s impossible to ignore Tesla, the industry leader. Tesla is known for its innovative electric vehicles and consistent growth in both market capitalization and share price, making it an attractive option for investors.
Moreover, Tesla is committed to expanding its reach through expenditures such as Gigafactories and Supercharger stations, showing its dedication to mass adoption of electric vehicles and sustainable energy.
Tesla stock price today
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2. Rivian
Rivian is a promising newcomer in the EV industry. The company captured the attention of early adopters with its sleek R1T electric pickup trucks and R1S SUV line-ups, and today, it enjoys investments from the likes of Amazon, which placed an order for 100,000 electric delivery vans from Rivian by 2030. In addition, Rivian has been making strategic movies ensuring collaborations with companies like Mercedes-Benz, which has the potential to make a significant impact in the EV truck market.
Rivian stock price today
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3. Ford
Ford is a legend in the automotive industry, and it entered the electric truck market with its F-150 Lightning model, which generated a lot of buzz. Moreover, Ford’s willingness to invest in electric vehicle technology, such as charging stations and rebates for customers, indicates its commitment to transitioning towards electric vehicles. And since the company has a long history and a strong presence in the U.S. market, it might be a solid option for investors looking to diversify their portfolio by investing in the domestic market.
Ford stock price today
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Where to buy EV truck stocks?
Our go-to brokerage for electric vehicle stocks is eToro, a popular trading platform with millions of active users and a plethora of nifty trading features, including:
- Commission-free stock trading;
- Access to over 2,000 stocks from 17 different exchanges;
- The option to purchase fractional shares;
- A user-friendly platform that simplifies the trading experience.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
EV truck stocks — Some observations
Investing in EV truck stocks can add diversity to your portfolio by allowing you to tap into the potential of an emerging market. However, as with any other investment, it’s important that you stay aware of relevant market factors, such as inflation, interest rates, etc.
When researching EV truck stocks, it can be helpful to look for companies with modular vehicle designs and innovative electric motor technologies. Moreover, companies focusing on improving charging infrastructure, such as developing public charging stations, can add value to the overall EV market.
Finally, try to stay informed about the latest industry trends, such as supply chain difficulties, government rebates, and Federal Reserve policy updates, as they can also impact the industry’s trajectory.
Risks and challenges involved with electric vehicle stocks
Investing in electric vehicle (EV) stocks can be an exciting opportunity. However, there are several risks and challenges to consider when adding EV truck stocks to your investment portfolio. Some of them include:
- Unpredictability: One major concern for investors in the EV market is unpredictable sales. While companies such as Rivian and Tesla have experienced significant growth in recent years, the industry as a whole is still new and evolving. To make sure you can stay afloat in a constantly changing investment landscape, try to stay mindful of the uncertainties involved with EV sales numbers and how they may impact the financial performance of your portfolio;
- Competition: Competition in the EV market is fierce, with titans such as Tesla, Ford, and Volkswagen constantly battling for a larger share of the growing market;
- Regulatory issues: Another challenge in the EV industry is related to the dynamic regulatory environment. Climate change considerations and the goal to reduce carbon footprint have led to various governments enacting legislation favoring EV adoption. However, changes in political climate or potential new regulations could impact the growth prospects of EV manufacturers;
- Interest rates: When considering investing in EV stocks, you should also take into account the potential interest rate hikes being contemplated by the Federal Reserve. Inflation can make money borrowing less viable for automakers and potentially hinder investment in EV technologies;
- The pace: New EV technologies are emerging all the time, including batteries, charging infrastructure, and modular vehicle designs. As an investor, you should keep in mind the potential risks related to companies not keeping pace with these advancements, as well as the opportunities presented by companies that successfully leverage new technologies.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about EV truck stocks
What are the 3 best EV truck stocks?
The 3 best EV truck stocks to buy in 2024 include Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN), and Ford (NYSE: F).
Are EV stocks a safe investment?
Like with other investments, there are inherent risks associated with EV stocks. Nonetheless, the industry seems promising due to the increasing demand for electric vehicles and global initiatives to address climate change.
How do I buy EV truck stocks?
You can buy EV truck stocks through online stock brokerages such as eToro.
Highly Rated Stock Trading & Investing Platform
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Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
