For many years, when it was an investment for making electric vehicles, there was one company and that was Tesla (NASDAQ: TSLA). However, Nissan too had Leaf. There were few hybrids too. But with Elon Musk’s startup, it proved to be a major “game-changer” for the others.
Electric Vehicle Stocks – Electric Vehicle Market
As far as development in the electric vehicle stocks scenario is concerned, know these facts
Very soon we will be seeing more than a dozen electric vehicle stocks in the market not only in 2020 but near future
It all started when there was a reverse merger between Nikola (NASDAQ: NKLA) and SPAC (special purpose acquisition corporation) Vector IQ. This reverse merger was soon followed by another reverse merger between Velodyne Lidar, Inc (NASDAQ: VLDR), and Hyliion. Lordstown Motors, Fisker, and Canoo are also expected to follow the same path. The latter is into electric vehicle manufacturing. Aside from the above, Chinese electric vehicle manufacturing companies, namely, by trading through traditional U.S IPO, went public.
Since so many companies are venturing out into electric vehicle stocks, if you are interested in investing in this segment, you can give it a try. You will not find that earlier there were not many electric vehicle manufacturers in the market.
- Few companies never manufactured such cars earlier
Nikola is one of the best examples of the fact that many companies were not engaged in manufacturing electric vehicles before. When Tesla started trading in 2010, it was already two years since it had been manufacturing Roadster.
Car stocks are usually for electric cars
Earlier, automakers used to get into a rat race when it came to offering electric vehicles. However, these days you will find that most of the well-known auto manufacturers have at least one model of an electric car to offer to their clients. Many such vehicles that are either undergoing development/designing or are ready to be launched in the market will debut in 2021/2022.
Are electric vehicles the future?
Electric vehicles are certainly the future. However, that does not necessarily mean that we will not have our usual gasoline/fuel-run vehicles among us. But it is being observed that a “quiet revolution” is underway. The migration to low or no emission vehicles is taking place in the electric vehicle market. There might be more than 100 low or zero-emission vehicles in the market by the end of 2025.
Cost for the Electric Cars charging station
The very cost of electric vehicles is quite high. This may be attributed to the cost of the battery that is mostly made up of lithium-ion cells. According to McKinsey, the cost of batteries dropped by 80% between the years 2010 to 2016, amounting to $227/kWh. As such, the cost of charging vehicles is a little on the higher side too.
Single port Level 1 EV charging stations cost ranges from $300-$1,500, Level 2 is $400-$6,500. However, these cars do not offer the same benefits as their counterparts that are available for the same cost as they offer many more advantages. As far as the electric vehicle range is concerned, it is available in the range of 110km.