August 8, 2022

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These 2 Small Electric Vehicle Stocks Have Triple-Digit Upside Potential, Say Analysts

2 min read

Electric vehicles (EVs) have become the car sector’s fastest growing segment, more than doubling last year to reach 6.8 million vehicles globally. This gives EVs a market share greater than 8%, triple where it stood in 2019, before the COVID pandemic. The market has found support from political policy, but more importantly, from improvements in battery technology and manufacture that are slowly making EVs more competitive on price.

The upshot is, EV companies are presenting investors with plenty of opportunities going forward. Automobiles are an essential of modern life, and EVs represent a high-growth leading edge for the industry, and one whose pace of growth is accelerating.

Against this backdrop, we’ve used the TipRanks platform to look up the details on two EV stocks that offer investors a hat-trick opportunity: a Buy rating from the Street’s analysts, triple-digit upside for the coming year, and a cost of entry below $5 per share. Let’s take a deep dive in and look at each of them along with the analyst commentary.

Xos (XOS)

We’ll start with Xos, an EV maker that specializes in electric trucks. This is a turning into a particularly strong niche for EVs, as electric trucks can optimized for urban delivery routes, staying within a relatively short radius of their operating base and charging stations. It’s a mode of operation well-suited to ‘last mile’ delivery, and bypasses a major complaint that EVs are not capable of long-range ops. This is the environment that Xos has focused on.

Xos got its start in 2016, and is working on the design and manufacture of all-electric medium- and heavy-duty commercial vehicles, powertrain systems for those vehicles, and the charging infrastructure to support them. The company boasts a proprietary battery system, dubbed X-Pack, that fits along with a modular chassis, also proprietary, called the X-Platform. The company describes itself as ‘building an electric truck ecosystem for today.’


2022-06-26 19:54:24

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