Top 5 EV Stocks to Buy Now on Sale

Shares of electric vehicle stocks like Tesla, Nio and ChargePoint have been slammed but is now the best time to buy these stocks? What's the outlook for EV stocks and should you invest? Don't miss these 7 top stocks with serious red flags, watch this next!    • 7 Top Stocks with SERIOUS Red Flags  

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EV stocks have fallen out of favor this year but were once the biggest growth theme on Wall Street. Shares of Tesla have made millionaires with the stock jumping 15-fold since just before the pandemic even after a spectacular 145% surge in the first half of the year, Tesla still no higher than it was three years ago.

But are EV stocks really out of gas? Even on the current beating in stock prices, most governments have some kind of timeline to phase out gasoline engines. That phase out in sales of new internal-combustion engines begins by 2030 for much of Europe along with Los Angeles and Seattle here in the US and then kicks into overdrive across the rest of the states by 2050.

Even if prior estimates for EV growth are overstated, with sales expected to reach 4.7 million cars sold annually in 2030 versus just 1.1 million this year, even if those estimated come down to 3.5 million sold in 2030 it would be a three-fold increase in seven years and still only represent about 20% of the car market.

They say it looks darkest before the dawn and that might be the case for EV stocks so I'm taking another look at the best EV stocks to buy for long-term growth.

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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through dividend stocks, investing and ways to make more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
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