3 Top EV Stocks To Buy Now For A Year-End Rally: NIO, Ford, And Plug Power

The falling cost of wind and solar energy means the cost of producing hydrogen fuel cells have also dropped. Some believe that hydrogen fuel cells are a superior option compared to electric-powered vehicles due to increased range and power. Another potential catalyst is that the incoming Biden administration is likely to be more generous in offering tax credits and subsidies to companies for green investments. If Democrats can win both Senate races in Georgia, and gain majority control of the Senate, that could lead to further gains for fuel cell stocks, like PLUG, as a more aggressive green energy plan will be expected.

PLUG is rated a Strong Buy by the POWR Ratings. It has an “A” for Trade Grade and Buy & Hold Grade with a “B” for Peer Grade and Industry Rank. It’s ranked #5 out of 59 in Industrial – Equipment. 

Ford (F)

F is not typically considered an EV stock because the bulk of its sales come from traditional vehicles with internal combustion engines (ICE). However, Ford is now manufacturing an electric Mustang and F150 truck.

I believe in the coming months investors are going to start pricing in the potential of its EV division.  In addition, the stock is valued quite reasonable considering it’s expected to sell 2.5 million vehicles in 2021. It has a forward price to earnings ratio of 8.3 and a price to sales of 0.27. Additionally, auto sales are cyclical so the company should benefit from an improvement in economic growth due to the vaccine. Low-interest rates will also provide a marginal boost as financing will be more generous.

The POWR Ratings are constructive for Ford,  as it has a Strong Buy Rating. It has an “A” for Trade Grade, Buy & Hold Grade, and Industry Rank with “B” for Peer Grade. Among Auto & Vehicle Manufacturers, it’s ranked #5 out of 34.

Want More Great Investing Ideas?

9 “MUST OWN” Growth Stocks for 2021

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