In this article, we will discuss the 10 Best Performing EV Stocks So Far in 2025.
Reuters, while quoting the market research firm Rho Motion, highlighted that the global sales of electric and plug-in hybrid vehicles saw an increase of 24% in June as compared to the previous year, as a switch to EVs continued its momentum in China and Europe. EV sales in the US declined by 1% in the month and are expected to struggle to pick up this year. This comes after President Donald Trump’s spending bill cut tax credits earlier than expected.
Key Trends Affecting the EV Industry
According to BloombergNEF, a strategic research provider, global sales of EVs continue to increase and are expected to represent 1 in 4 cars sold this year. Electrification has been quickly spreading in other areas of road transport, with buses and 2 and 3-wheelers reaching very high adoption levels. China continues to dominate the global EV market as more than half of the vehicles sold there are now electric. However, the sales in the US are slowing, while witnessing uncertainty because of policy changes, according to BloombergNEF.
The global sales of battery-electric vehicles and plug-in hybrids increased to 1.8 million units in June, according to data by Rho Motion. Furthermore, the sales in China rose 28% from the same month of last year to 1.11 million vehicles.
Amidst such trends, let us now have a look at the 10 Best Performing EV Stocks So Far in 2025.
A brand new electric vehicle charging at a charging station with a city skyline in the background.
Our Methodology
To list the 10 Best Performing EV Stocks So Far in 2025, we sifted through several online rankings to shortlist the stocks catering to the broader EV sector. Next, we chose the ones that have delivered at least ~30% return on a YTD basis. We chose the ones that are popular among hedge funds. Finally, the stocks are arranged in ascending order of their hedge fund sentiments, as of Q1 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10 Best Performing EV Stocks So Far in 2025
10. Fly-E Group, Inc. (NASDAQ:FLYE)
% Return on a YTD Basis: ~49.6%
Number of Hedge Fund Holders: 1
Fly-E Group, Inc. (NASDAQ:FLYE) is one of the Best Performing EV Stocks So Far in 2025. The company has released its financial results for the fiscal year ended March 31, 2025, with net revenues coming at $25.4 million versus $32.2 million in FY 2024. Fly-E Group, Inc. (NASDAQ:FLYE) saw an improvement in gross margin to 41.1% (up from 40.7% in FY 2024), thanks to the cost reductions and more favorable pricing obtained from its suppliers, mainly in battery sourcing.
With an emphasis on innovation, Fly-E Group, Inc. (NASDAQ:FLYE) provides a broad and growing product portfolio of more than 100 models throughout E-motorcycles, E-bikes, and E-scooters. Its rental service, which is active in New York City, Toronto, and Los Angeles, continues to gain strong traction.
Fly-E Group, Inc. (NASDAQ:FLYE) remains well-capitalized to invest in inventory, vehicle production, and working capital. Moving forward, it remains focused on improving product safety, expanding the geographic reach, and investing in digital platforms. Fly-E Group, Inc. (NASDAQ:FLYE) remains optimistic about its growth prospects despite the decline in revenue, considering it has established a strong reputation and invested in marketing and product diversification.
Fly-E Group, Inc. (NASDAQ:FLYE) is an EV company that is mainly engaged in designing, installing, and selling smart electric motorcycles, electric bikes, electric scooters, and related accessories.
9. NWTN Inc. (NASDAQ:NWTN)
% Return on a YTD Basis: ~118.9%
Number of Hedge Fund Holders: 2
NWTN Inc. (NASDAQ:NWTN) is one of the Best Performing EV Stocks So Far in 2025. The company announced the execution of an agreement with SEET LLC, which is a subsidiary of Medad Holding, a leading investment institution in the UAE. NWTN Inc. (NASDAQ:NWTN) and SEET signed a share purchase agreement according to which the latter will invest US$100 million for the acquisition of newly issued NWTN shares.
Furthermore, SEET and its affiliated companies will partner with NWTN Inc. (NASDAQ:NWTN) in strategic initiatives such as urban mobility, AI, smart energy, and blockchain technology etc. The investment will strengthen NWTN Inc. (NASDAQ:NWTN)’s position as a UAE leader in clean energy, mobility, and high-end manufacturing. Notably, SEET and Medad Group’s other investments remain highly complementary with NWTN’s strength in smart manufacturing as well as accessibility to global technology, added NWTN Inc. (NASDAQ:NWTN)’s management.
NWTN Inc. (NASDAQ:NWTN) and W Motors Automotive Group Holding Limited announced a strategic JV targeted at expanding their automotive business across diverse mobility projects. Notably, the partnership is expected to combine NWTN Inc. (NASDAQ:NWTN)’s network and access with W Motors’ design and technology excellence.
NWTN Inc. (NASDAQ:NWTN) is a green energy company that is focused on offering passenger-focused, premium EV products and green energy solutions to customers.
8. Niu Technologies (NASDAQ:NIU)
% Return on a YTD Basis: ~104.0%
Number of Hedge Fund Holders: 8
Niu Technologies (NASDAQ:NIU) is one of the Best Performing EV Stocks So Far in 2025. In Q2 2025, the company sold 350,090 units, which consisted of e-motorcycles, e-mopeds, e-bicycles, kick-scooters, and e-bikes. Furthermore, the sales in China and international markets came in at 318,719 and 31,371 units, respectively.
Niu Technologies (NASDAQ:NIU) highlighted that, in China, it focused on its key product line development strategy, improving the existing models via continuous upgrades and refining the product portfolio. Notably, such efforts led to an optimized product mix, making it appealing to a range of consumers. In the international markets, Niu Technologies (NASDAQ:NIU) rolled out a comprehensive portfolio of electric motorcycles, which includes off-road models. Because of an expanded distribution network, the lineup strengthened its global market position.
In China, Niu Technologies (NASDAQ:NIU) continues to advance its intelligent product development strategy through the integration of automotive-grade technologies, including millimeter-wave radar, dual-channel ABS, and an AI Smart Ecosystem. The synergistic combination of product innovation and omnichannel growth continues to fuel measurable increases across domestic sales and market penetration. The company is leveraging innovation and agile infrastructure, which can help mitigate geopolitical challenges.
Niu Technologies (NASDAQ:NIU) is engaged in designing, manufacturing, and selling electric scooters.
7. Solid Power, Inc. (NASDAQ:SLDP)
% Return on a YTD Basis: ~55.5%
Number of Hedge Fund Holders: 16
Solid Power, Inc. (NASDAQ:SLDP) is one of the Best Performing EV Stocks So Far in 2025. The BMW Group is bringing large-format, pure ASSB cells from Solid Power, Inc. (NASDAQ:SLDP) to its test vehicle, a BMW i7, which is being operated in the Munich area. Notably, one of the potential benefits of ASSB technology is higher energy density in a very compact storage system as compared to the current technologies.
Both companies believe in the potential of genuine ASSB technology. Given the higher energy density compared to the current battery technologies, ASSB batteries possess the potential to achieve longer ranges in vehicles without the disadvantages regarding the weight of the overall storage system. Solid Power, Inc. (NASDAQ:SLDP)’s management demonstrated optimism that its partnership with BMW led to the first demonstration of truly all-solid-state battery cells in a vehicle.
In Q1 2025, Solid Power, Inc. (NASDAQ:SLDP) delivered $6.0 million in revenue. This was mainly driven by the execution of its agreements with SK On Co., Ltd. For FY 2025, Solid Power, Inc. (NASDAQ:SLDP) remains focused on fulfilling partner and customer commitments and increasing the electrolyte sampling through the use of the electrolyte innovation center (EIC) to innovate driven by demand.
Solid Power, Inc. (NASDAQ:SLDP) is engaged in developing solid-state battery technologies for EVs and other markets.
6. Microvast Holdings, Inc. (NASDAQ:MVST)
% Return on a YTD Basis: ~30.2%
Number of Hedge Fund Holders: 17
Microvast Holdings, Inc. (NASDAQ:MVST) is one of the Best Performing EV Stocks So Far in 2025. The company has announced a strategic partnership with Evoy, which is a Norwegian company that specializes in high-output electric motor systems for boats. Notably, this collaboration is Microvast Holdings, Inc. (NASDAQ:MVST)’s debut in the electric boat segment and reflects an expansion of Evoy’s battery options for diverse market applications. Notably, Evoy plans to integrate Microvast MV-I high-power battery packs into the leisure boat product line.
For Q1 2025, Microvast Holdings, Inc. (NASDAQ:MVST) booked a net profit of $61.8 million and a positive adjusted EBITDA of $28.5 million, reflecting an increased demand for its advanced battery solutions as well as the effectiveness of its emphasis on profitability and operational efficiency. The company achieved record Q1 2025 revenue of $116.5 million, a strong 43.2% YoY growth. Furthermore, Microvast Holdings, Inc. (NASDAQ:MVST) continues to achieve significant traction in the commercial vehicle sector, mainly within EMEA, where it saw more than 100% growth YoY.
Microvast Holdings, Inc. (NASDAQ:MVST) expects that its high-growth EMEA business will maintain strong momentum and will continue to fuel YoY revenue increases. The company has been actively pursuing new strategic partnerships in the region in order to help its current and upcoming product lines.
Microvast Holdings, Inc. (NASDAQ:MVST) offers battery technologies for EVs and energy storage solutions.
5. XPeng Inc. (NYSE:XPEV)
% Return on a YTD Basis: ~59.8%
Number of Hedge Fund Holders: 19
XPeng Inc. (NYSE:XPEV) is one of the Best Performing EV Stocks So Far in 2025. Analyst Jeff Chung of Citi maintained a “Buy” rating on the company’s stock, while retaining the price objective of $29.00. The analyst’s rating is backed by several compelling factors demonstrating the company’s strategic positioning and growth potential. Furthermore, the recent launch of the G7, which is a mid-size BEV-SUV, demonstrated promising initial demand.
The analyst also highlighted that G7’s advanced features place it as a technologically advanced option in the broader market. The partnership with NVIDIA, along with the planned adoption of high-performance chips for future models, demonstrates a commitment to innovation. Furthermore, XPeng Inc. (NYSE:XPEV) has officially opened its order books for the fully-renewed Ultra Smart Coupe SUV G6 and Ultra Smart Premium SUV G9 in Europe.
In June 2025, the company delivered 34,611 Smart EVs, demonstrating a YoY rise of 224% and marking the 8th consecutive month in which deliveries surpassed 30,000 units. In Q2 2025, XPeng Inc. (NYSE:XPEV) delivered 103,181 Smart EVs, setting a new quarterly record. XPeng Inc. (NYSE:XPEV)’s top management believes that its robust product cycle, global expansion, and accelerated adoption of physical AI technologies will drive strong and sustainable growth.
4. Enovix Corporation (NASDAQ:ENVX)
% Return on a YTD Basis: ~31.5%
Number of Hedge Fund Holders: 23
Enovix Corporation (NASDAQ:ENVX) is one of the Best Performing EV Stocks So Far in 2025. Craig-Hallum lifted the price objective on the company’s stock to $15 from $12, while keeping a “Buy” rating, as reported by The Fly. This comes after Enovix Corporation (NASDAQ:ENVX) released its preliminary June results with revenue and adjusted EBITDA surpassing the midpoint of previous guidance. As per the firm, the outperformance was mainly due to the company’s Korean divisions. Furthermore, the company launched its AI-1, an artificial intelligence-focused battery for next-gen smartphone applications, and has started sampling.
As per the preliminary Q2 2025 results, Enovix Corporation (NASDAQ:ENVX) saw revenue of $7.5 million, while the adjusted EBITDA loss narrowed to $21.4 million. The company highlighted that this was its 5th straight quarter exceeding the midpoint of guidance for both revenue and adjusted EBITDA. Enovix Corporation (NASDAQ:ENVX) announced the acquisition of battery cell manufacturing assets from SolarEdge, which is located in South Korea. The acquisition is expected to expand the company’s manufacturing footprint and help position Enovix Corporation (NASDAQ:ENVX) to cater to growing demand in the broader defense industry.
Massif Capital, an investment management company, released its Q4 2024 investor letter. Here is what the fund said:
“Our most volatile position remains Enovix Corporation (NASDAQ:ENVX), and we admit to being miffed by its continued volatility. At one point, it made sense as it was a story stock, but at this point, the stock has advanced well beyond being a story. Despite the progress the firm is making operationally, the stock has historically annualized volatility over rolling 100-day periods of nearly 100%. Last year, the stock moved more than 30% from local lows to local highs four times; it also had drawn downs from local highs to local lows of more than 35% three times. The short interest in the stock also remains incredibly high at more than 30% of the stock’s float.
This strange trading behavior and short interest are occurring against a strong operational backdrop. The firm completed site acceptance testing for its high-volume production line at its Fab-2 site in December, positioning the company well for mass production of batteries starting in 2025/2026. The management team also continues to advance the sale pipeline, announcing, in December, a prepaid purchase order from a “Silicon Valley-based global technology leader” for a battery solution for the buying firm’s mixed reality wearables. The deliveries for this order will be small in 2025 and ramp in 2026, but it’s unclear, especially given the market for mixed reality wearables (total TAM assuming battery ASP of $5/unit is $175 million), that they will be all that significant. Nevertheless, this order is yet another indicator that this is no longer a company with a science experiment and a story but instead a battery manufacturer…” (Click here to read the full text)
Enovix Corporation (NASDAQ:ENVX) is engaged in designing, developing, and manufacturing lithium-ion battery cells. The company serves wearables and IoT, smartphones, computing, EVs, and original equipment manufacturers.
3. QuantumScape Corporation (NYSE:QS)
% Return on a YTD Basis: ~145.4%
Number of Hedge Fund Holders: 26
QuantumScape Corporation (NYSE:QS) is one of the Best Performing EV Stocks So Far in 2025. QuantumScape Corporation (NYSE:QS) and Murata Manufacturing Co. entered into a first phase of an agreement to explore a collaboration for high-volume manufacturing of ceramic film for the former’s solid-state battery technology. As per QuantumScape Corporation (NYSE:QS)’s top management, this brings together the company’s advanced solid-state battery technology with Murata’s longstanding record of delivering ceramic-based electronic components for some most demanding applications.
By leveraging a network of industry-leading partners, QuantumScape Corporation (NYSE:QS) continues to accelerate industrialization of the solid-state battery technology while maintaining a strong emphasis on innovation and technological advancement. Through the collaboration with experts, QuantumScape Corporation (NYSE:QS) ensures a streamlined path to commercialization.
The electric powertrain has the potential to dominate the global automotive industry, with automakers looking to solid-state battery technology in order to remain competitive. QuantumScape Corporation (NYSE:QS) opines that its technology edge, together with its strong balance sheet and consistent execution, makes it stand apart as a leader in solid-state batteries.
QuantumScape Corporation (NYSE:QS) focuses on the development and commercialization of solid-state lithium-metal batteries for EVs and other applications.
2. Li Auto Inc. (NASDAQ:LI)
% Return on a YTD Basis: ~31.5%
Number of Hedge Fund Holders: 28
Li Auto Inc. (NASDAQ:LI) is one of the Best Performing EV Stocks So Far in 2025. Li Auto Inc. The company announced that it delivered 36,279 vehicles in June 2025, resulting in the second-quarter deliveries of 111,074. As of June 30, 2025, Li Auto Inc. (NASDAQ:LI)’s cumulative deliveries touched 1,337,810. Furthermore, the company announced that the recently launched Li MEGA Home significantly surpassed the sales expectations, which made Li MEGA the top seller among MPVs that are priced above RMB500,000, irrespective of the power source. The company has maintained its position as China’s best-selling domestic automotive brand in the RMB200,000 and above mid-to-high-end market for 2 consecutive years.
Morningstar highlighted that Li Auto Inc. (NASDAQ:LI) focused on its range-extension powertrain, which has become a key selling point for the company’s value-for-money vehicles. As it utilises less battery, plug-in hybrid electric vehicles provide significant price advantages as compared to BEVs. Despite product iterations, Li Auto Inc. (NASDAQ:LI)’s gross margin was healthy at 20.5%, and net income touched RMB646.6 million in Q1 2025, up 9.4% YoY, due to its disciplined cost management and growing economies of scale.
1. Garrett Motion Inc. (NASDAQ:GTX)
% Return on a YTD Basis: ~32.4%
Number of Hedge Fund Holders: 33
Garrett Motion Inc. (NASDAQ:GTX) is one of the Best Performing EV Stocks So Far in 2025. BNP Paribas Exane initiated coverage on the company’s stock with an “Outperform” rating and a price objective of $14.00. The firm pointed to Garrett Motion Inc. (NASDAQ:GTX)’s robust profitability, FCF conversion, and a clear commitment to capital returns. The company’s net sales for Q1 2025 came in at $878 million, with net income reaching $62 million. The company continued to return capital to shareholders via $30 million of common share repurchases and its first quarterly dividend amounting to $12 million.
Garrett Motion Inc. (NASDAQ:GTX) strengthened its global leadership in turbocharging and won new business with established and new automakers, primarily in plug-in hybrid and range-extended electric platforms. Garrett Motion Inc. (NASDAQ:GTX) also joined the Russell 2000® Index after the market closed on June 27. The company has reached a milestone in the development of its E-Powertrain high-speed technologies and secured the first series production award from Hyundai, a leading axle supplier, to integrate Garrett’s high-speed E-motor and inverter technology into their axle and transmission platforms for the heavy-duty commercial vehicles, with production aimed for 2027.
Garrett Motion Inc. (NASDAQ:GTX)’s growing suite of zero-emission products revolutionizes sustainable mobility by providing advanced, efficient, and high-performing solutions for EV propulsion and thermal management.
McIntyre Partnerships, an investment management company, released its Q4 2024 investor letter. Here is what the fund said:
“Garrett Motion Inc. (NASDAQ:GTX) is a leading manufacturer in the moat-rich turbocharger (TB) market, with a global end-market and industry-leading margins. As TBs are not used in battery electric vehicles (BEVs), the market has concerns about GTX’s terminal value, which is suppressing its valuation. GTX trades ~5x my 2025 levered FCF with leverage at 2x EBITDA. Beyond its core business in TBs, GTX has a separate BEV growth story that is currently pre-revenue with high upfront costs, depressing GTX’s reported run-rate FCF. As a result, I believe GTX is even cheaper on owners’ earnings than the headline numbers suggest. Beyond its BEV investments, GTX has been using its FCF to buy back significant amounts of stock. Since 2022, GTX has retired almost one-third of its shares outstanding. If either BEV penetration is less bad than feared or GTX has success in its BEV investments, I believe GTX shares are significantly undervalued.
Before I dig into numbers, I want to revisit GTX’s TB business, which I believe has a deep moat and is highly predictable. TBs are a high-tech, mission-critical component of a car’s engine. The TB market is a duopoly between BWA and GTX. While there are also smaller Asian competitors, GTX and BWA enjoy significant engineering and R&D advantages over their peers, which creates a moat and allows GTX to earn among the highest margins and lowest annual price downs of any publicly traded auto supplier. TBs are essentially mini-jet engines that take the exhaust fumes and push that air back into the engine, increasing power and fuel efficiency. TBs are highly sophisticated devices – the TB’s turbine spins at up to 150,000 RPMs, yet the distance between the spinning turbine and the wall of the TB can be as small as a seventh the width of a human hair. GTX’s years of R&D allow them to deliver products that competitors cannot match. As a testament to this, Bosch and Mahle, two of the largest auto suppliers in the world, launched a TB joint venture in the late 2000s with the explicit blessing and support of GTX’s customers, the auto OEMs. A scaled competitor teaming up with your customers to break your duopoly is a business nightmare, yet after a decade, Bosch-Mahle gave up and exited the space. They could not match GTX’s products. Finally, the TB is a critical component of an engine, which is, in turn, the most important component of a car. Engines are designed years in advance, and once a product is designed into an engine, it is virtually impossible to design out. Once Mercedes designs a Garrett TB into an AMG engine, GTX has an almost guaranteed 100% renewal product with a multi-year life cycle. GTX’s backlog is exceptionally sticky and 90% booked 3+ years out. While BEV is a wild card, GTX has visibility on its core operations for years…” (Click here to read the full text)
While we acknowledge the potential of GTX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GTX and that has 100x upside potential, check out our report about this cheapest AI stock.
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