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The 7 Best Electric Vehicle Stocks That Aren't Tesla

We all know that electric vehicles are the future of day-to-day transportation. They are simpler to manufacture than their gas-combustion cousins. They allow for the easy integration of driver assistance and other technologies. And, they can be refueled in your garage with renewable energy from the grid.

How does an investor profit from this trend? Your natural first thought might be to put money in Tesla, but it's hard to make money off a company that is already trading at a price-to-earnings ratio of 50 (or sometimes even more!). Most of the future growth of Tesla is already baked into its share price, unfortunately.

We've also heard about companies like Nikola and Rivian that want to be the "next Tesla," but so far none of them have shown themselves to be formidable competitors to Elon Musk's electric vehicle powerhouse. Some of them even turned out to be outright frauds.

So, how do we profit from the electric vehicle mega-trend? We look at other companies in the E.V. supply chain that are providing parts, equipment, and services to major automobile manufacturers as they begin the transition to producing fully electric vehicles.

We've conferred with Wall Street's top-ranked research analysts and scoured hundreds of their reports to find the best E.V. companies that you can invest in right now. We've identified seven companies that stand to benefit from the electric vehicle mega-cycle and Wall Street's best analysts are giving these companies "buy" and "strong buy" ratings in their proprietary research reports.

#1 - Infineon Technologies (OTCMKTS:IFNNY)

Consensus Rating
Strong Buy
Rating Score
4.0
Ratings Breakdown
4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
N/A

About Infineon Technologies

Infineon Technologies logoInfineon Technologies AG designs, develops, manufactures, and markets semiconductors and semiconductor-based solutions worldwide. Its Automotive segment offers automotive microcontrollers; 3D ToF, magnetic, and pressure sensors; discrete power semiconductors; IGBT modules; industrial microcontrollers; power and memory ICs; transceivers; diodes, MOSEFTs, and modules; and voltage regulators for use in assistance and safety systems, comfort electronics, infotainment, powertrain, and security products. More about Infineon Technologies
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
1/28/2025SusquehannaUpgradeHold ➝ Strong-Buy
10/10/2024CitigroupUpgradeStrong-Buy
9/9/2024New Street ResearchUpgradeStrong-Buy
6/24/2024BarclaysUpgradeStrong-Buy
7/12/2023Jefferies Financial GroupUpgradeUnderperform ➝ Hold
1/18/2023Sanford C. BernsteinInitiated CoverageOutperform
1/17/2023BarclaysInitiated CoverageOverweight
12/12/2022SusquehannaInitiated CoverageNeutral
11/21/2022Stifel NicolausBoost Price TargetBuy ➝ Buy€44.00 ➝ €45.00
11/18/2022Societe GeneraleBoost Price TargetBuy ➝ Buy€38.00 ➝ €41.00

#2 - EnerSys (NYSE:ENS)

Consensus Rating
Buy
Rating Score
3.0
Ratings Breakdown
3 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$117.50 (44.3% Upside)

About EnerSys

EnerSys logoEnerSys engages in the provision of stored energy solutions for industrial applications worldwide. It operates in four segments: Energy Systems, Motive Power, Specialty, and New Ventures. The Energy Systems segment offers uninterruptible power systems (UPS) applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, data center, and renewable and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries. More about EnerSys
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
5/14/2025Roth MkmReiterated RatingBuy ➝ Buy$120.00 ➝ $120.00
1/17/2025OppenheimerUpgradeMarket Perform ➝ Outperform$115.00
9/23/2024Roth MkmReiterated RatingBuy ➝ Buy$120.00 ➝ $120.00
8/27/2024Roth CapitalUpgradeStrong-Buy
8/27/2024Roth MkmInitiated CoverageBuy$120.00
5/24/2024BTIG ResearchDowngradeBuy ➝ Neutral
2/9/2024OppenheimerDowngradeOutperform ➝ Market Perform
12/20/2023OppenheimerBoost Price TargetOutperform ➝ Outperform$110.00 ➝ $116.00
11/6/2023William BlairDowngradeOutperform ➝ Market Perform
8/11/2023OppenheimerLower Price Target$119.00 ➝ $117.00

#3 - ZEEKR Intelligent Technology (NYSE:ZK)

Consensus Rating
Buy
Rating Score
3.0
Ratings Breakdown
6 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$32.02 (8.9% Upside)

About ZEEKR Intelligent Technology

ZEEKR Intelligent Technology logoZEEKR Intelligent Technology Holding Limited, an investment holding company, engages in the research and development, production, commercialization, and sale of the electric vehicles and batteries. It offers battery electric passenger vehicles (BEVs) and SUVs. The company also produces and sells electric powertrain and battery packs for electric vehicles, such as motors and electric control systems; and provides automotive related research and development services. More about ZEEKR Intelligent Technology
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
10/25/2024CICC ResearchInitiated CoverageOutperform$31.74
10/3/2024MacquarieInitiated CoverageOutperform$33.00
8/22/2024Bank of AmericaLower Price TargetBuy ➝ Buy$30.00 ➝ $26.00
6/24/2024CitigroupInitiated CoverageBuy$32.40
6/12/2024Bank of AmericaBoost Price TargetBuy ➝ Buy$35.00 ➝ $36.00
6/6/2024Deutsche Bank AktiengesellschaftInitiated CoverageBuy$35.00
6/4/2024Bank of AmericaInitiated CoverageBuy$35.00
6/4/2024The Goldman Sachs GroupInitiated CoverageBuy$34.00

#4 - Shell (NYSE:SHEL)

Consensus Rating
Buy
Rating Score
3.1
Ratings Breakdown
14 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$78.35 (18.8% Upside)

About Shell

Shell logoShell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market. More about Shell
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
5/13/2025Hsbc Global ResUpgradeStrong-Buy
5/13/2025Piper SandlerBoost Price TargetOverweight ➝ Overweight$72.00 ➝ $80.00
5/5/2025Wells Fargo & CompanyLower Price TargetOverweight ➝ Overweight$83.00 ➝ $80.00
4/11/2025ScotiabankLower Price TargetSector Outperform ➝ Sector Outperform$75.00 ➝ $70.00
4/8/2025Wells Fargo & CompanyLower Price TargetOverweight ➝ Overweight$87.00 ➝ $83.00
4/8/2025TD CowenLower Price TargetBuy ➝ Buy$82.00 ➝ $76.00
4/4/2025TD SecuritiesReiterated RatingBuy ➝ Buy
3/26/2025BarclaysReiterated RatingOverweight ➝ Overweight
3/26/2025Royal Bank of CanadaReiterated RatingOutperform ➝ Outperform
3/26/2025Wells Fargo & CompanyBoost Price TargetOverweight ➝ Overweight$81.00 ➝ $87.00

#5 - Enovix (NASDAQ:ENVX)

Consensus Rating
Moderate Buy
Rating Score
2.7
Ratings Breakdown
8 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$17.27 (123.2% Upside)

About Enovix

Enovix logoEnovix Corporation designs develops and manufactures silicon-anode lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
5/1/2025JPMorgan Chase & Co.Lower Price TargetOverweight ➝ Overweight$10.00 ➝ $9.00
5/1/2025TD SecuritiesLower Price TargetHold ➝ Hold$10.00 ➝ $7.00
4/29/2025B. RileyLower Price TargetBuy ➝ Buy$17.00 ➝ $12.00
4/24/2025JPMorgan Chase & Co.Lower Price TargetOverweight ➝ Overweight$15.00 ➝ $10.00
4/15/2025BenchmarkLower Price TargetBuy ➝ Buy$25.00 ➝ $15.00
2/20/2025Craig HallumLower Price TargetBuy ➝ Buy$20.00 ➝ $18.00
2/20/2025Cantor FitzgeraldReiterated RatingOverweight ➝ Overweight$30.00 ➝ $30.00
10/31/2024Janney Montgomery ScottDowngradeBuy ➝ Neutral$10.00
10/30/2024Cantor FitzgeraldReiterated RatingOverweight ➝ Overweight$30.00 ➝ $30.00
10/30/2024BenchmarkReiterated RatingBuy ➝ Buy$25.00 ➝ $25.00

#6 - EVgo (NASDAQ:EVGO)

Consensus Rating
Buy
Rating Score
3.1
Ratings Breakdown
11 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$6.25 (69.4% Upside)

About EVgo

EVgo logoEVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services. More about EVgo
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
5/8/2025JPMorgan Chase & Co.Reiterated RatingOverweight ➝ Overweight
5/7/2025Roth CapitalReiterated RatingBuy ➝ Buy
3/31/2025Evercore ISILower Price TargetOutperform ➝ Outperform$7.00 ➝ $4.00
3/12/2025JPMorgan Chase & Co.Lower Price TargetOverweight ➝ Overweight$6.00 ➝ $5.00
3/6/2025Stifel NicolausLower Price TargetBuy ➝ Buy$10.00 ➝ $8.00
3/5/2025Cantor FitzgeraldReiterated RatingOverweight ➝ Overweight$8.00 ➝ $8.00
3/5/2025Needham & Company LLCReiterated RatingHold ➝ Hold
2/19/2025JPMorgan Chase & Co.Lower Price TargetOverweight ➝ Overweight$7.00 ➝ $6.00
1/27/2025UBS GroupLower Price TargetBuy ➝ Buy$8.00 ➝ $5.00
1/16/2025Needham & Company LLCReiterated RatingHold ➝ Hold

#7 - Vontier (NYSE:VNT)

Consensus Rating
Moderate Buy
Rating Score
2.7
Ratings Breakdown
5 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$44.83 (25.4% Upside)

About Vontier

Vontier logoVontier Corporation provides mobility ecosystem solutions worldwide. The company operates through Mobility Technologies, Repair Solutions, and Environmental and Fueling Solutions segments. The Mobility Technologies segment provides digitally equipment solutions for mobility ecosystem, such as point-of-sale and payment systems, workflow automation, telematics, data analytics, software platform, and integrated solutions for alternative fuel dispensing. More about Vontier
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
5/19/2025Evercore ISIBoost Price TargetOutperform ➝ Outperform$45.00 ➝ $47.00
5/5/2025BarclaysBoost Price TargetOverweight ➝ Overweight$45.00 ➝ $48.00
4/14/2025CitigroupLower Price TargetBuy ➝ Buy$45.00 ➝ $36.00
3/26/2025BarclaysLower Price TargetOverweight ➝ Overweight$46.00 ➝ $45.00
2/18/2025Robert W. BairdBoost Price TargetNeutral ➝ Neutral$42.00 ➝ $43.00
2/14/2025BarclaysBoost Price TargetOverweight ➝ Overweight$45.00 ➝ $46.00
1/13/2025CitigroupLower Price TargetBuy ➝ Buy$46.00 ➝ $44.00
1/8/2025BarclaysLower Price TargetOverweight ➝ Overweight$46.00 ➝ $45.00
12/12/2024Wolfe ResearchUpgradePeer Perform ➝ Outperform$48.00
12/10/2024UBS GroupInitiated CoverageBuy ➝ Buy$46.00 ➝ $47.00

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