The death of the electric vehicle (EV) has been greatly exaggerated in 2024. Sure, there were some noteworthy setbacks in production plans or product launches in the U.S., but overall forecasts remain very strong for electric vehicle growth in the new year.
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Specifically, an analysis by Gartner estimates that the number of EVs in use will grow 33% in 2025 to bring the total number of electric cars and trucks to 85 million in total. That figure will be primarily thanks to brisk adoption rates in China (58% growth) and Europe (24% growth), which together are projected to represent 82% of the total EV market next year, according to Gartner.
For investors who want to cash in on EV stocks and the rise of electric vehicles, it’s critical to look beyond the usual suspects in the U.S. and take a truly global approach to the industry. With that in mind, some of the hottest EV stocks to buy for 2025 include:
| Stock | Market value |
| Tesla Inc. (ticker:TSLA) | $1.2 trillion |
| BYD Co. Ltd. (BYDDY) | $106 billion |
| Volkswagen AG (VWAGY) | $43 billion |
| Li Auto Inc. (LI) | $24 billion |
| Nio Inc. (NIO) | $10 billion |
| Albemarle Corp. (ALB) | $12 billion |
| ChargePoint Holdings Inc. (CHPT) | $600 million |
Tesla Inc. (TSLA)
Market value:
$1.2 trillion
If you can put the divisive and sometimes oddball behavior of Tesla CEO Elon Musk aside, it’s undeniable that this company is a force in the global EV industry. Tesla has a huge chunk of the marketplace, with predictions of nearly 1.8 million vehicle deliveries across all of 2024. What’s more, strong momentum after Election Day, thanks to Musk’s close associations with President-elect Donald Trump, has pushed TSLA stock up about 50% on the year even as other electric vehicle stocks have struggled. As a soundly profitable operator while competitors are still figuring out the economics of EVs, Tesla remains the go-to EV stock for many investors as we enter 2025.
BYD Co. Ltd. (BYDDY)
Market value: $106 billion
While Tesla is the first name many people think of when it comes to EV stocks, Chinese firm BYD is actually the top electric vehicle manufacturer in the world. BYD has produced more than 8 million EVs of some form over the last few years, and is currently selling more than 500,000 “new energy vehicles” per month — a potential pace of 6 million annually going forward. Granted, some of that total includes plug-in hybrids that are not fully battery-powered cars, but the scale is undoubtedly impressive. What’s more, the local appeal of this Chinese company amid the uncertainty around tariffs and trade policies all but ensures this home-grown EV stock will thrive in China across 2025 as regional demand remains strong.
Volkswagen AG (VWAGY)
Market value: $43 billion
If BYD is worthy of consideration despite a brisk hybrid business to supplement its fully electric fleet, then legacy automaker Volkswagen also needs to make the cut. After all, it remains the largest vehicle manufacturer on the planet and has the same local appeal in Europe that BYD might have in China amid the current talk of trade wars. EVs are a modest share of total output, to be sure, but VW’s output is still significant simply by virtue of the company’s overall scale. In October, the firm reported battery electric vehicles (not hybrids) topped 500,000 units across the first three quarters of 2024. That puts it on pace for nearly 700,000 vehicles on the full year — and with goals of fully electrifying its fleet by 2030, VWAGY is definitely an EV stock to watch.
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Li Auto Inc. (LI)
Market value: $24 billion
Much smaller than the these other firms and currently bleeding cash as it invests aggressively in growth, Li Auto is nevertheless a top EV stock to watch because of its tremendous growth path.
It delivered 48,740 vehicles in November 2024, up 18.8% year over year, and is currently on pace to top 500,000 units on the year. In 2023, total deliveries were at just 373,000 or so — meaning a roughly 35% growth rate even as other EV stocks are struggling. A big reason for that is because of its premium appeal, with its Li AD Max accounting for more than 80% of orders for models in China priced above roughly $55,000. Admittedly, shares of LI stock have struggled in 2024 but these sales figures are incredibly encouraging for investors who aren’t afraid of taking on a bit more risk to invest in an upstart EV stock versus an established leader.
Nio Inc. (NIO)
Market value: $10 billion
Another junior EV stock operating deep in the red, Nio is putting up impressive growth metrics even if its share performance hasn’t been grand in 2024. Specifically, Nio delivered a record 61,855 units in the third quarter and estimates it will have as many as 75,000 EV deliveries in the fourth quarter. That pace of 300,000 units annually doesn’t seem like much compared with other firms, but considering the firm delivered about half that total in 2023 there is a lot to like about where the firm is headed. What’s more, like BYD and Li, this is a Chinese firm with local appeal in the fastest-growing market for EVs on the planet. That gives it an added tailwind that some Western EV stocks may lack in 2025.
Albemarle Corp. (ALB)
Market value: $12 billion
Not interested in horse-racing vehicle brands? Then instead of playing EV manufacturers, you can invest in the largest and most prominent lithium producer via Albemarle. The company is one of the leading lithium miners globally, with production capacity of 225,000 metric tons and plans to roughly triple capacity by 2030. Supply chain challenges for lithium are tricky, and trade policies could make the situation even more complex in 2025. But as a commodity stock that profits in part based on broader market-wide pricing trends, any shortages or supply bottlenecks will naturally boost lithium prices if things don’t go well — and that will naturally benefit ALB’s bottom line as a result. Even if saber rattling on trade policies never amounts to much in the near term, you could do worse than bet on this top supplier of EV raw materials.
ChargePoint Holdings Inc. (CHPT)
Market value: $600 million
A variation on this theme of investing in the big picture of EVs, ChargePoint is the largest electric vehicle charging company in the United States, with more charging ports and locations than any other network. Specifically, CHPT boasts 70,000 plugs at nearly 39,000 stations. In fact, more than 4 in 10 charging ports nationwide are operated by ChargePoint. The company is small and currently unprofitable, so it definitely carries a level of risk, but investors who aren’t keen on putting money behind firms headquartered in Beijing or Shanghai may find this closer-to-home play a bit more palatable. What’s more, the growth of charging infrastructure in the U.S. provides broad opportunities regardless of which electric vehicle model or manufacturer reigns supreme in the years ahead.
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7 Best EV Stocks to Buy for 2025 originally appeared on usnews.com
Update 12/05/24: This story was previously published at an earlier date and has been updated with new information.
