Skip to main content

Electric Vehicle Checkpoint: Tesla Is Still the EV King

See the latest news for the top stocks in the electric vehicle space including Ford, General Motors, NIO, Lordstown Motors, and more.

The Alliance for Auto Innovation asked President Joe Biden earlier this week to encourage the Commerce Department to direct cash to the auto sector in order to address the growing semiconductor supply chain issues. Biden has said he wants around $37 billion in U.S. funds to kick-start domestic semiconductor production and met with industry leaders at the White House Monday.

Jim Cramer, the founder of TheStreet, recently called NXP  (NXPI) - Get NXP Semiconductors NV Report the "bottleneck for Ford  (F) - Get Ford Motor Company Report and perhaps for General Motors  (GM) - Get General Motors Company Report," naming it the "biggest problem" in the chip shortage.

Wedbush analyst Dan Ives had positive comments on Ford and General Motors as two automakers that continue to advance their electric plans regardless.

Tesla's  (TSLA) - Get Tesla Inc Report March deliveries in China created a strong trajectory for the electric vehicle major into the rest of 2021, Ives said. Tesla delivered 35,500 vehicles, and the carmaker remains the EV king.

Referencing the "green wave," Ives said that lifting the 200,000 electric-vehicle tax-credit ceiling, which was restored to Tesla and General Motors, and a likely $10,000 electric-vehicle tax rebate will be major catalysts for industry growth in the U.S., thanks to the focus on green energy from President Joe Biden's administration.

ARK Innovation ETF  (ARKK) - Get ARK Innovation ETF Report shares edged higher Thursday as star fund manager Cathie Wood added nearly $250 million in Coinbase  (COIN)  shares to her flagship funds while trimming some holdings of Tesla. The ARK Innovation ETF sold around $178 million in Tesla shares. 

Wood has been a long-time proponent of both Tesla and Bitcoin, two of her fund's key assets, and only recently claimed the clean-energy carmaker's shares could rise to $3,000 each by the year 2025.

For more in-depth coverage of the electric vehicle sector including trading recommendations and investment strategies, follow experts on Real Money.

Here is a list of the electric vehicle stocks to watch and their performance from the past week by percentage change at the close of trading on Wednesday, Apr. 14:

Tesla | +9.13% 5-Day

Tesla  (TSLA) - Get Tesla Inc Report shares jumped higher in premarket trading Monday after analysts at Canaccord Genuity lifted their rating on the clean-energy carmaker as it moves toward an "Apple-esque ecosystem" of energy products. 

Canaccord analyst Jed Dorsheimer said Tesla is poised to "radically" change the battery power market with its industry-leading technology and production capacity, adding that its successful transition to mass-market electric vehicle production will allow it to "attack and conquer another trillion-dollar market in energy generation and storage."

Last month, Tesla Chief Executive Elon Musk said the company would accept bitcoin as payment for its electric vehicles. 

TheStreet Quant Ratings rates Tesla as a Hold with a rating score of C.

Ford | -3.85% 5-Day

Ford  (F) - Get Ford Motor Company Report cautioned last month that if the shortage extends through the first half of the year, it could take a hit of between $1 billion to $2.5 billion to its adjusted bottom line.

The company's EV sales are up 74% on strong sales of the Mustang Mach-E and F-150 PowerBoost Hybrid, according to the company's reported first-quarter 2021 U.S. sales results.

TheStreet Quant Ratings rates Ford as a Hold with a rating score of C.

Scroll to Continue

TheStreet Recommends

General Motors | -3.86% 5-Day

Shares of U.S. automaker General Motors  (GM) - Get General Motors Company Report dropped Monday after U.S. regulators started investigating complaints the airbags on thousands of GM vehicles may not inflate in a crash.

However, the company still remains hot as bulls continue to ride the electric vehicle trend higher in the stock.

General Motors is idling another North American plant as a result of the ongoing shortage in global semiconductor supplies. And, CNBC said the carmaker will temporarily close its facility in Spring Hill, Tennessee later this month, and reiterated the company's estimate that chip shortages will ding its 2021 operating profit by as much as $2 million. 

TheStreet Quant Ratings rates GM as a Buy with a rating score of B.

Nikola | -4.39% 5-Day

Nikola  (NKLA) - Get Nikola Corporation Report Wednesday unveiled plans to collaborate with Iveco and OGE to transport hydrogen from production sources to fueling stations that support fuel-cell elective vehicles.

The three companies said in a statement that they have agreed to transport hydrogen via a pipeline network to fueling stations.

TheStreet Quant Ratings has no rating for Nikola.

NIO | -0.67% 5-Day

NIO  (NIO) - Get NIO Inc. (China) Report, the Chinese electric vehicle maker, reported big gains in their first-quarter deliveries. NIO was advancing 7.9% to $42.06.

The company said it delivered 20,060 vehicles in the first quarter, up a record 423% from a year ago. It delivered 7,257 vehicles in March, a new monthly record and up 373% year-over-year.

TheStreet Quant Ratings rates NIO as a Sell with a rating score of E+.

Lordstown Motors | -7.50% 5-Day

Lordstown Motors  (RIDE) - Get Lordstown Motors Corp. Class A Report is being sued for misleading shareholders. A purchaser of Lordstown Motors filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Exchange Act of 1934 between October 26, 2020, and March 17, 2021.

TheStreet Quant Ratings doesn't have a rating for Lordstown Motors.

XPeng | -3.46% 5-Day

Xpeng  (XPEV) - Get Xpeng Inc Report debuted the Xpeng P5 smart sedan on Wednesday, which the Chinese electrical vehicle maker said is the world’s first mass-produced smart EV equipped with automotive-grade LiDAR technology.

The Xpeng P5 is the company's third production model. LiDAR, or light detection and ranging, is a system that helps provide visibility for autonomous vehicles.

Shares were climbing 3.4% to $35.63 on Monday.

TheStreet Quant Ratings has no rating for Xpeng.

Plug Power | -11.17% 5-Day

A securities fraud class action lawsuit has been filed against Plug Power Inc.  (PLUG) - Get Plug Power Inc. Report on behalf of those who purchased or acquired Plug securities between November 9, 2020, and March 1, 2021.

"Plug Power had accounting issues and we need to get to the bottom of them," Cramer said Tuesday during the "Mad Money Lightning Round." 

TheStreet Quant Ratings rates Plug Power as a Sell with a rating score of D.

QuantumScape | -13.80% 5-Day

QuantumScape  (QS) - Get QuantumScape Corporation Class A Report, an electric vehicle battery maker, said it met conditions for Volkswagen to invest an additional $100 million in it.

“This will be the second and final closing under the May 14, 2020 stock purchase agreement between VW and QuantumScape that provided for a total $200 million investment," the company added.

TheStreet Quant Ratings doesn't have a rating for QuantumScape.

Canoo | -3.88% 5-Day

Canoo  (GOEV) - Get Canoo Inc. Class A Report this past week lost more than a quarter of their value after the electric vehicle maker did not report revenue for the December quarter and was downgraded at Roth Capital.

The Dallas company said that it planned to deemphasize its contract-engineering-services line, which led Roth analysts to downgrade the stock to neutral from buy. They slashed their price target on the stock to $12 from $30.

TheStreet Quant Ratings doesn't have a rating for Canoo.

Fisker | -11.24% 5-Day

Fisker  (FSR) - Get Fisker Inc Class A Report was included in Cramer's list of top electric-vehicle plays in March.

TheStreet Quant Ratings doesn't have a rating for Fisker.

Ford is a key holding in Jim Cramer's Action Alerts PLUS charitable trust. Want to be alerted before Jim Cramer buys or sells any stock? Learn more from Cramer and his membership team now.