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The future of EVs: Outlook for this year

Mike Ong and Tan Kean Soon
Mike Ong and Tan Kean Soon5/14/2021 6:31 AM GMT+08  • 11 min read
The future of EVs: Outlook for this year
EVs are fast gaining traction. Here are three EV stocks that you may want to put on your watchlist for their growth prospects.
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Share prices of Electric Vehicle (EV) players like Tesla, Nio and XPeng have crashed from their stratospheric highs in February. This was amid a market sell-off of high-growth stocks as US Treasury yields rose and semiconductor chips remained in short supply. Nio has temporarily suspended vehicle production for five days due to a lack of chips. Other players are likely to be in the same shoes.

Shortage or no shortage, Nio still managed to deliver 20,060 vehicles in the quarter ending March. This was up a whopping 423% y-o-y. Tesla also shipped 184,800 vehicles in the quarter, up 209% y-o-y. These delivery figures are simply out of whack with the drop in their share prices. So, is it time to enter EV stocks?

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