15 Best-Performing EV Stocks for February 2024

Whether you’re an environmentalist, a growth opportunist or a meme stock aficionado, electric vehicle stocks may seem like an enticing addition to your investment portfolio.
Sam Taube
Alana Benson
By Alana Benson and  Sam Taube 
Updated
Edited by Pamela de la Fuente

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As gas prices surged to all-time highs over the last year, so did interest in electric vehicles (EVs).

According to the International Energy Agency, global EV sales doubled in 2021 to a record of 6.6 million vehicles, and continued their strong growth in 2022.

Given these sales numbers, EV stocks have started to attract a lot of investor interest. And the subsidies introduced by the Inflation Reduction Act could boost sales even more going forward.

Best-performing EV stocks

Ticker

Company

Performance (Year)

NVDA

NVIDIA Corp

222.60%

AMD

Advanced Micro Devices Inc.

126.85%

GOOG

Alphabet Inc

42.90%

ALV

Autoliv Inc.

20.49%

ENS

Enersys

17.51%

LI

Li Auto Inc ADR

17.07%

GNTX

Gentex Corp.

15.62%

NXPI

NXP Semiconductors NV

15.57%

ADI

Analog Devices Inc.

11.98%

SCCO

Southern Copper Corporation

11.41%

SWKS

Skyworks Solutions, Inc.

-6.12%

STM

ST Microelectronics

-6.20%

SITM

SiTime Corp

-7.29%

FCX

Freeport-McMoRan Inc

-9.27%

TXN

Texas Instruments Inc.

-9.89%

Source: Finviz. Stock data is current as of February 1, 2024, and is intended solely for informational purposes, not for trading purposes.

What are EV stocks?

Electric vehicle stocks, or EV stocks, include electric vehicle manufacturers, electric battery producers, and companies that make charging stations and electric motors. In a broader sense, EV stocks may also include mining companies and semiconductor companies that produce key EV components.

If you're looking for electric vehicle 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 often stock pickers will look for a strong track record of performance, many EV stocks don't have one, making the EV market speculative.

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.

» Learn more about index funds vs. ETFs

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Traditional automakers making EVs

Electric vehicles aren't only being produced by new car companies. Legacy car manufacturers such as General Motors, Ford, Toyota and Ferrari all have plans to start producing electric vehicles. Some of these companies are even included in electric vehicle-themed ETFs.

EV stock ETFs

If you'd rather not pick individual electric vehicle stocks to include in your portfolio, EV exchange-traded funds, or 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.

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, DRIV's top holdings — Alphabet Inc. (GOOGL), Apple Inc. (AAPL), Qualcomm Inc. (QCOM), Intel Corp. (INTC) and Nvidia Corp. (NVDA) — may come as a surprise.

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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.

Neither the author nor editor held positions in the aforementioned investments at the time of publication.
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