Top Electric Vehicle (EV) Stocks for the Bull Run in February 2024 Top Electric Vehicle (EV) Stocks for the Bull Run in February 2024

JJ Bounty

Electric vehicle (EV) stocks could be in a prime position to deliver strong gains for investors as the broader indices like the S&P 500 and the Nasdaq take off as part of a bull market. I believe that EV stocks can stand to benefit more than companies in other industries — such as tech companies — whose valuations may be stretched too far for the comfort of many investors.

Also, these brands have solid growth prospects ahead of them, making them suitable investments in their own right regardless of the cyclical ups and downs of the market.

Tesla’s Dominance Continues (TSLA)

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

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

Tesla is projected to deliver roughly 2.25 million vehicles in 2024, with Morgan Stanley’s Adam Jonas highlighting Tesla’s potential to expand its dominance outside of China. Backed by an expanding product line and strong financial outlook, Tesla remains a significant player in the EV market.

General Motors’ Underrated Potential (GM)

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

Despite facing setbacks, General Motors (NYSE:GM) has made significant strides in the EV sector. The brand is steadfastly committed to transitioning its vehicles to electric, aiming to eliminate tailpipe emissions from light-duty vehicles by 2035.

GM’s reintroduction of plug-in hybrid options alongside its all-electric vehicle efforts, as well as its undervaluation and low valuation ratios, make it an underappreciated pick for investors looking to invest in EV stocks.

Ford’s Sustainable Transition (F)

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

Ford Motor (NYSE:F) is making a strong pivot towards sustainable transportation through the electrification of its vehicles. The company announced plans to launch seven new all-electric vehicles in Europe by 2024, including both passenger and commercial vehicles.

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Ford’s commitment to transitioning to an all-electric lineup in Europe by 2035, coupled with its great dividend yield and expected share price appreciation, positions it as a strong contender in the EV market.