Electric vehicle stocks have been among the best-performing and most volatile stocks in the market in recent years. Investors see EV technology as a massive, long-term growth opportunity, and they are scooping up shares of EV initial public offerings and early market leaders. The global EV market is expected to grow 24.3% annually from 2021 to reach $1.3 trillion by 2028, according to Fortune Business Insights. Unfortunately, a rotation out of high-growth tech stocks has weighed on many EV investments in 2022. Here are nine of the best battery companies and EV stocks to buy, according to Bank of America:
Rivian Automotive Inc. (RIVN)
Lucid Group Inc. (LCID)
Proterra Inc. (PTRA)
Nio Inc. (NIO)
XPeng Inc. (XPEV)
Li Auto Inc. (LI)
General Motors Co. (GM)
MP Materials Corp. (MP)
Teck Resources Ltd. (TECK)
Rivian Automotive Inc. (RIVN)
Lucid Group Inc. (LCID)
Proterra Inc. (PTRA)
Nio Inc. (NIO)
XPeng Inc. (XPEV)
Li Auto Inc. (LI)
General Motors Co. (GM)
MP Materials Corp. (MP)
Teck Resources Ltd. (TECK)
