Electric vehicle (EV) stocks have been among the most popular investment options for investors over the last few years. The industry performed extremely well on the back of a higher global EV adoption rate. Approximately 9% of global car sales were EVs in 2021, up from 4.1% in 2020 and 2.5% in 2019. This makes EV stocks a good investment for value investors to look into.
As the EV industry is still young and growing, most of the pure-play companies do not pay dividends. Hence, income-seeking investors should look to invest in original equipment manufacturers that are making a major shift toward EVs.
Let’s take a look at these three EV companies from a value investor’s standpoint…
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