Tesla Inc. (TSLA) has been on a tear to start the new year, rising from $729 to $826. TSLA shares were trading at $841.86 per share on Tuesday morning, up $15.70 (+1.90%). Year-to-date, TSLA has gained 19.30%, versus a 0.91% rise in the benchmark S&P 500 index during the same period. However, TSLA is not the only EV stock that has fared well across the initial weeks of 2021.

Take a close look at the EV sector and you will find several stocks that have spiked to start the new year, many of which are likely to continue their ascension through the remainder of the financial quarter and possibly beyond. Below, we shine the spotlight on the following three EV stocks that have outperformed TSLA to start the new year: Niu Technologies (NIU), General Motors (GM), and Blue Bird Corporation (BLBD).

Niu Technologies (NIU)

E-scooters certainly don’t receive the same level of attention from the mainstream media as electric vehicles yet investors are taking note of the diminutive green devices. NIU is one of the leading makers of solutions for smart urban mobility such as e-scooters. Based in Beijing, NIU is poised to sell millions of e-scooters to those living in the world’s most populous country, as well as other urban residents across the globe.

The POWR Ratings reveal NIU has an “A” Trade Grade component along with “B” grades in the Industry Rank, Peer Grade, and Buy & Hold Grade components. Of 52 stocks in the Technology – Hardware space, NIU is ranked 25th.

NIU started the year at $28.77. The stock has recently been trading around $38, meaning it is outpacing Tesla in the initial weeks of 2021. The top analysts believe NIU will move even higher, setting an average price target of $43 for the stock. If NIU reaches this level, it will have increased by more than 13%.

NIU’s recent spike is largely attributable to its glowing fourth-quarter results. NIU’s quarterly sales grew more than 40% compared to the same period in the year prior. It is particularly important to note the company’s sales outside of China nearly tripled in the quarter.

General Motors (GM)

GM has quickly moved from $40.51 to just under $50 in three weeks of trading. GM plans to release 30 EVs within the next four years. If the company fulfills this expectation, it will become a serious TSLA rival.

Add in the fact that GM is launching a BrightDrop service for commercial delivery in which an electrified pallet moves into an electric van on its own, and investors have all the more reason to be optimistic. Furthermore, the company’s battery division dubbed Altium, combined with its autonomous driving segment is also making strides.

GM still has a fairly low forward P/E ratio of 8.62, meaning it is likely underpriced at its current trading level. Indeed, the analysts are bullish on GM, setting an average price target of $53.50, meaning there is the potential for the stock to pop by more than 7% in the months ahead. Of the 14 analysts who have studied the stock, 13 recommend buying, one advises holding, and none advise selling.

The POWR Ratings show GM has “A” grades in the Peer Grade, Trade Grade, Industry Rank, and Buy & Hold Grade components. The stock is ranked 6th of more than 50 in the Auto & Vehicle Manufacturers segment.

Blue Bird Corporation (BLBD)

When it comes to EVs, most people immediately think of sedans traversing the cities and suburbs as opposed to larger vehicles such as buses. BLBD makes electric school buses. Demand is soaring for the company’s fully electric buses.

As time progresses, BLBD will sell even more of its buses beyond its current primary market of California. School districts throughout the United States are more than willing to go electric with their buses and BLBD is leading the charge.

BLBD’s green buses are made with special V2G technology, short for the vehicle to grid. V2G empowers communities to rely on the buses as a backup source of power if an emergency strikes. All in all, 180,000 BLBD buses are currently in use.

BLBD is a POWR Ratings stud with “A” Grades in the Buy & Hold Grade and Trade Grade components, along with a “B” grade in the Industry Rank component. BLBD’s stock has jumped from $17.86 to $22.39 since the start of the year. The stock’s forward P/E ratio is still a modest 18.66, meaning there is still some space for upward movement before the stock could be considered overvalued.

Want More Great Investing Ideas?

• 9 “MUST OWN” Growth Stocks for 2021
• 5 WINNING Stocks Chart Patterns
• 7 Best ETFs for the NEXT Bull Market