15 Best-Performing EV Stocks for November 2024
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According to the International Energy Agency, about 1.6 million electric vehicles (EVs) were sold in the U.S. in 2023 — a significant increase from the 1 million sold the previous year.
Increased sales and enticing EV tax credits may make investing in EV stocks more attractive than ever.
What are EV stocks?
EV stocks include electric vehicle manufacturers, electric battery producers and companies that make charging stations and electric motors. In a broader sense, electric vehicle stocks may also include mining companies and semiconductor companies that produce key EV components.
If you're looking for EV stocks, there are several to choose from. However, keep in mind that investing in individual stocks is typically riskier than investing in a well-diversified index fund or exchange-traded fund. And while stock pickers will often look for a strong track record of performance, many EV stocks don't have one, making the EV market speculative.
» Learn more about index funds vs. ETFs
Best-performing EV stocks
The table below shows the 15 best-performing members of the Solactive Electric Vehicles and Future Mobility Index that are also traded on major U.S. exchanges. The stocks are ranked by one-year return.
Ticker | Company | Performance (Year) |
|---|---|---|
NVDA | NVIDIA Corp | 219.91% |
SITM | SiTime Corp | 76.33% |
CRUS | Cirrus Logic, Inc | 62.35% |
SCCO | Southern Copper Corporation | 55.57% |
TXN | Texas Instruments Inc | 43.13% |
ADI | Analog Devices Inc | 41.60% |
NXPI | NXP Semiconductors NV | 38.30% |
FCX | Freeport-McMoRan Inc | 36.10% |
GOOG | Alphabet Inc | 35.34% |
AMD | Advanced Micro Devices Inc | 31.30% |
AMBA | Ambarella Inc | 28.14% |
FLNC | Fluence Energy Inc | 28.04% |
ENS | Enersys | 13.35% |
THRM | Gentherm Inc | 10.38% |
ST | Sensata Technologies Holding Plc | 8.94% |
Source: Finviz. Data is current as of market close Nov. 1, 2024, and is intended for informational purposes only, not for trading purposes.
EV stock ETFs
If you'd rather not pick individual electric vehicle stocks to include in your portfolio, EV exchange-traded funds (ETFs) could be helpful. These ETFs hold a basket of stocks related to electric vehicles, including EV technology such as charging stations and vehicle batteries. One of these funds is the Global X Autonomous & Electric Vehicles ETF (DRIV). DRIV seeks to mirror the performance of the Solactive Autonomous & Electric Vehicles Index, which lists companies in the electric vehicle space.
Electric vehicles aren't only being produced by new car companies. Legacy car manufacturers such as General Motors, Ford, Toyota and Ferrari all offer at least a hybrid electric vehicle, and most offer a fully electric model. Some of these companies are even included in electric vehicle-themed ETFs.
One drawback of ETF investing is that you don't get complete control over what you invest in. For instance, while funds such as DRIV do invest in EVs and EV technology, some of DRIV's top holdings — NVIDIA Corp. (NVDA), Toyota Motor Corp. (TOYOF), Microsoft (MSFT) and Alphabet Inc. (GOOGL) — may come as a surprise.
How to buy EV stocks
If you're looking to add EV stocks to your portfolio, you'll need a brokerage account to purchase them. Setting up an account is relatively easy and takes about 15 minutes. Once you fund an account, you can research EV stocks and invest directly from your brokerage account.
If you're looking for more environmentally friendly investment options, you can also explore green stocks.
» Want to go deeper? Read our primer on how to buy stocks
