Top Electric Vehicle Stocks for the Next Bull Run 3 EV Stocks to Buy for the Next Bull Run

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By Ronald Tech

Electric vehicle stocks could be in a prime position to deliver strong gains for investors as the broader stock market takes off as part of a bull market. EV stocks can stand to benefit more than companies in other industries. They have solid growth prospects ahead, making them suitable investments regardless of the cyclical ups and downs of the market.

Tesla (TSLA)

Tesla (TSLA) model X displayed in China auto expo during covid19 pandemic. Staff wearing face mask.

Source: helloabc / Shutterstock.com

Tesla (NASDAQ:TSLA) continues to dominate the EV market with a substantial market value, showcasing its capability to produce vehicles at scale, leading to reduced prices and a broader market capture.

Analysts predict Tesla will deliver roughly 2.25 million vehicles in 2024. These deliveries are supported by an expanding product line that could complement its efforts, ramping up production of new vehicles.

While the consensus on Wall Street is that TSLA is a “Hold,” its stock price is predicted to rise within the next twelve months, and its EPS is also predicted to surge next year. These facts lead to the belief that TSLA is one of those EV stocks that could benefit substantially from the ongoing bull market.

General Motors (GM)

Cadillac car and SUV dealership. Cadillac offers a full line of gas and electric EV vehicles. GM stock

Source: Jonathan Weiss / Shutterstock.com

General Motors (NYSE:GM) has made significant strides in the EV sector, despite facing setbacks such as the withdrawal of a $5 billion EV development plan with Honda.

GM is steadfastly committed to transitioning its vehicles to electric. CEO Mary Barra underlines this commitment to eliminating tailpipe emissions from light-duty vehicles by 2035. Additionally, GM recently announced the reintroduction of plug-in hybrid options alongside its all-electric vehicle efforts. This undervaluation is punctuated by its low valuation ratios, trading at just 5x earnings and 0.2x times sales.

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Ford Motor (F)

Ford Go Electric Automobile Exhibition At Genoa, Italy. F stock

Source: TY Lim / Shutterstock.com

Ford Motor (NYSE:F) is making a strong pivot towards sustainable transportation through the electrification of its vehicles.

Ford is set to announce seven new all-electric vehicles in Europe by 2024, including both passenger and commercial vehicles. Another bonus for investors is that Ford pays a great dividend yield and Wall Street expects its share price will increase within the next twelve months.

On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.

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