In this article, we will look at the 11 Small Cap EV Stocks to Buy According to Analysts.
On September 12, Reuters reported that Rho Motion data suggests that the global sales of fully electric and plug-in hybrid vehicles grew by only 15% in August 2025. This marks the slowest year-over-year growth rate since January 2025. The global slowdown can be estimated by looking at China’s average EV Sales growth, which has been around 36% per month for the first half of 2025. However, this dropped down to 6% in August.
Data Manager at Rho Motion noted that despite this cool-down in China, EV sales growth in the region is expected to stay strong in the fourth quarter, driven by new funds from the government’s subsidy scheme and the usual rebound of the market. The report highlighted that August was the toughest month for overall Chinese EV sales growth, hampering the progress of some large manufacturers, including BYD, which reduced its 2025 global sales target by 16%. The same month was the best for smaller names in China, including Geely, Xpeng, and Nio, which picked up market share and grew their year-over-year EV sales figures in August 2025.
In terms of the numbers, total global sales of battery vehicles and plug-in hybrids reached 1.7 million in August. Out of this, Chinese sales reached 1.1 million, European sales reached 283,453 vehicles, and North American Sales reached 201,255 units, while sales in the rest of the world reached 144,280 vehicles for the month of August.
Now that we have looked at the recent EV sales figures, let’s take a look at the 11 Small-Cap EV Stocks to Buy According to Analysts.
Our Methodology
To compile the list of 11 Small Cap EV Stocks to Buy According to Analysts, we used the Global X Autonomous & Electric Vehicles ETF and SPDR S&P Kensho Smart Mobility ETF as our sources. Using these ETFs, we aggregated a list of small-cap (market cap between $300 million and $10 billion, our definition) EV stocks for which analysts expect more than 20% upside. We used CNN to check the analyst upside potential and market capitalization of each stock. Next, we ranked the stocks in ascending order of the analyst upside potential. In addition, we have also added the hedge fund sentiment around each stock, sourced from Insider Monkey’s Q2 2025 database.
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).
Please note that the data was recorded on October 8, 2025.
11 Small-Cap EV Stocks to Buy According to Analysts
11. Vontier Corporation (NYSE:VNT)
Market Cap: $5.83 billion
Number of Hedge Fund Holders: 35
Analyst Upside Potential: 24.53%
Vontier Corporation (NYSE:VNT) is one of the Best Small-cap EV Stocks to Buy According to Analysts. On October 7, Vontier Corporation (NYSE:VNT) announced a partnership between its company, Driivz, and Sheetz, for the purpose of powering the growing EV charging network with advanced charging and power management software.
Driivz is a Vontier Corporation (NYSE:VNT) company that provides software for EV charging operations. Whereas Sheetz is one of the fastest-growing convenience retailers in the United States. It is becoming a trusted charging destination with more than 125 charging stations across seven states. Sheetz is launching its EV charging solution, and the company has selected Driivz, after a competitive selection process, to scale and support the network.
Vontier Corporation (NYSE:VNT) is an international industrial technology company that operates through three main segments, including Mobility Technologies, Repair Solutions, and Environmental & Fueling Solutions.
10. indie Semiconductor, Inc. (NASDAQ:INDI)
Market Cap: $955.49 million
Number of Hedge Fund Holders: 13
Analyst Upside Potential: 32.60%
indie Semiconductor, Inc. (NASDAQ:INDI) is one of the Best Small Cap EV Stocks to Buy According to Analysts. indie Semiconductor, Inc. (NASDAQ:INDI) is up more than 18.8% since the release of its fiscal second quarter results for 2025. The company posted positive results during the quarter with revenue of $51.63 million, topping the estimates by $150,670, while the EPS of negative $40.08 also stayed in line with the expectations. Management noted that both the revenue and gross margins were also above the mid-point of their outlook.
In terms of strategic updates, indie Semiconductor, Inc. (NASDAQ:INDI) announced its definitive agreement to acquire emotion3D GmbH. It is one of the leaders in software technology targeting automotive computer vision.
Since the announcement, several analysts have reiterated their bullish sentiment on the stock. For instance, a day after the earnings release on August 8, Cody Acree from Benchmark Co. reiterated a Buy rating on the stock with a price target of $8. More recently, on September 22, Anthony Stross from Craig-Hallum also reiterated a Buy rating on the stock with a price target of $6.
indie Semiconductor, Inc. (NASDAQ:INDI) is engaged in the development of automotive semiconductors and software for advanced driving systems.
9. Dana Incorporated (NYSE:DAN)
Market Cap: $2.44 billion
Number of Hedge Fund Holders: 41
Analyst Upside Potential: 33.12%
Dana Incorporated (NYSE:DAN) is one of the Best Small Cap EV Stocks to Buy According to Analysts. On October 3, Colin Langan from Wells Fargo lowered the firm’s price target on Dana Incorporated (NYSE:DAN) from $22 to $21, while keeping an Equal Weight rating on the stock.
The rating comes ahead of the company’s fiscal third-quarter results for 2025, which are expected on November 5, 2025. The company posted mixed results during the fiscal second quarter of 2025; however, management raised its full-year guidance by $250 million, adjusted EBITDA by $35 million, and free cash flow by $50 million.
Dana Incorporated (NYSE:DAN) posted $2.35 billion in revenue, down 14% year-over-year but ahead of Wall Street’s estimates by $49.5 million. However, the EPS of $0.13 fell short of the estimates by $0.03.
In addition to Wells Fargo, on the same day, Joseph Spak from UBS also reiterated a Buy rating on Dana Incorporated (NYSE:DAN) with a $25 price target.
Dana Incorporated (NYSE:DAN) provides energy management solutions and also designs and manufactures propulsion systems for vehicles and machines across global mobility markets.
8. Garrett Motion Inc. (NASDAQ:GTX)
Market Cap: $2.63 billion
Number of Hedge Fund Holders: 39
Analyst Upside Potential: 34.56%
Garrett Motion Inc. (NASDAQ:GTX) is one of the Best Small Cap EV Stocks to Buy According to Analysts. Wall Street is bullish on Garrett Motion Inc. (NASDAQ:GTX) ahead of its fiscal third-quarter results for 2025, which are expected to be released on October 23.
The company topped Wall Street estimates during its fiscal second quarter. The revenue of $913 million grew 2.58% year-over-year and topped estimates by $3.10 million, while the EPS of $0.42 also exceeded the consensus by $0.06. Management raised the full-year outlook for 2025. Garrett Motion Inc. (NASDAQ:GTX) is now expecting full-year sales to be between $3.4 billion and $3.6 billion, ahead of the previous outlook of $3.3 billion and $3.5 billion. As a result, the outlook for net income has also increased from a range of $209 million and $254 million to a range of $233 million and $278 million.
Analysts are bullish on the stock. For instance, on September 19, Garrett Motion Inc. (NASDAQ:GTX) was initiated at Stifel Nicolaus with a Buy rating and a $17.5 price target. More recently, on September 30, Hamed Khorsand from BWS Financials raised the price target on the stock from $14 to $18, while reiterating a Buy rating on the stock.
Garrett Motion Inc. (NASDAQ:GTX) is a Swiss automotive company that designs and manufactures turbochargers and electric boosting technologies for light and commercial vehicles.
7. Allegro MicroSystems, Inc. (NASDAQ:ALGM)
Market Cap: $5.09 billion
Number of Hedge Fund Holders: 22
Analyst Upside Potential: 34.64%
Allegro MicroSystems, Inc. (NASDAQ:ALGM) is one of the Best Small Cap EV Stocks to Buy According to Analysts. Allegro MicroSystems, Inc. (NASDAQ:ALGM) is expected to release its fiscal second quarter results for 2026 on October 30, 2025. Wall Street has been bullish on the stock ahead of the company’s earnings release.
The company topped expectations during the FQ1 2026 results. Its revenue of $203.41 million grew 21.86% year-over-year, exceeding the expectations by $5.18 million. Moreover, the EPS of $0.09 also came in ahead of the consensus by $0.01. Management also released its outlook for the second quarter, noting that it expects net sales for the quarter to be in the range of $205 million to $215 million, the midpoint of which reflects 12% year-over-year growth. In addition, the gross margins are also expected to stay high between 48% and 50%.
On September 5, Thomas O’Malley from Barclays reiterated a Buy rating on the stock with a price target of $30. More recently, on September 11, Joshua Buchalter from TD Cowen also reiterated a Buy rating on the stock with a price target of $37.
Allegro MicroSystems, Inc. (NASDAQ:ALGM) is a technology company that develops power and sensing semiconductor solutions for motion control and energy-efficient systems.
6. Aeva Technologies, Inc. (NASDAQ:AEVA)
Market Cap: $993.62 million
Number of Hedge Fund Holders: 19
Analyst Upside Potential: 42.78%
Aeva Technologies, Inc. (NASDAQ:AEVA) is one of the Best Small Cap EV Stocks to Buy According to Analysts. On September 30, Aeva Technologies, Inc. (NASDAQ:AEVA) released a multi-sensor FMCW 4D LiDAR and camera dataset for autonomous vehicle research. The dataset is recognized as the industry’s first open dataset, which features key elements including semantic segmentations, tracking, lane annotations, and object velocity measurements.
Management noted that this open dataset provides researchers with highly accurate and dense range sensing data. Moreover, the company’s interactive sensor diagram provides both wide and narrow fields of view for LiDAR and camera systems. Management believes that this data has the potential to enable researchers to push boundaries of the current autonomous technology.
Aeva Technologies, Inc. (NASDAQ:AEVA) is a tech company that designs and produces LiDAR sensing systems and other autonomous driving-related software for vehicles including EVs.
5. ECARX Holdings Inc. (NASDAQ:ECX)
Market Cap: $788.57 million
Number of Hedge Fund Holders: 19
Analyst Upside Potential: 52.14%
ECARX Holdings Inc. (NASDAQ:ECX) is one of the Best Small Cap EV Stocks to Buy According to Analysts. On September 25, ECARX Holdings Inc. (NASDAQ:ECX) announced next-generation AI experience for the launch of its new Lynk & Co 07 EM-P hybrid sedan and 08 EM-P hybrid SUV.
Management noted that their Pikes, computing platform, and Cloudpeak, cross-domain software, will deliver this solution. The new solution will be powered by Qualcomm’s Snapdragon SA8295P automotive-grade SoC, which will become the foundation to support various other features, including AI Agents, 95-inch AR-HUDs, navigation, voice interaction, vehicle control, and more.
ECARX Holdings Inc. (NASDAQ:ECX) is engaged in developing systems on chip modules for automotive computing platforms and integrated software solutions for vehicle cockpits.
4. Sigma Lithium Corporation (NASDAQ:SGML)
Market Cap: $1.18 billion
Number of Hedge Fund Holders: 22
Analyst Upside Potential: 63.93%
Sigma Lithium Corporation (NASDAQ:SGML) is one of the Best Small Cap EV Stocks to Buy According to Analysts. Sigma Lithium Corporation (NASDAQ:SGML) is expected to release its fiscal third-quarter results for 2025 on November 14. Wall Street is bullish on the stock despite the company missing estimates during the second quarter of 2025.
The company posted a revenue of $16.88 million, down 63.26% and below expectations by $19.74 million. The EPS of negative $0.17 also fell short of the consensus by $0.09. Although these results were below Wall Street estimates. However, the stock has gained more than 24% since the earnings release on August 14. This is because Sigma Lithium Corporation (NASDAQ:SGML) exceeded its lithium oxide concentrate target during Q2 2025. It achieved 68,368t of lithium oxide concentrate, representing a 38% year-over-year increase and ahead of the target of 67,500t.
Management noted that the revenue fell despite an increased lithium oxide concentration because of a deliberate strategy to withhold products during volatile periods. Analysts have a bullish sentiment on Sigma Lithium Corporation (NASDAQ:SGML).
On September 26, Rock Hoffman from Bank of America Securities reiterated a Buy rating on the stock with a $12 price target. Earlier on August 15, Joel Jackson from BMO Capital Markets also reiterated a Buy rating on the stock with a price target of $12.
Sigma Lithium Corporation (NASDAQ:SGML) is an international producer of carbon-neutral lithium concentrate, which is used for electric vehicle batteries.
3. VinFast Auto Ltd. (NASDAQ:VFS)
Market Cap: $7.97 billion
Number of Hedge Fund Holders: 6
Analyst Upside Potential: 78.57%
VinFast Auto Ltd. (NASDAQ:VFS) is one of the Best Small Cap EV Stocks to Buy According to Analysts. On October 4, VinFast Auto Ltd. (NASDAQ:VFS) launched two new electric bus models at Busworld Europe 2025.
This includes the EB 8 and EB 12 electric bus models. The EB 12 model is a full-size 12-meter city bus that adheres to UNECE and CE regulations and is now available to order in Europe. On the other hand, the EB 8 is a smaller bus, 8 meters long, and the is expected to be available for order later. Management noted that this marks a key step for the company towards expanding from the private passenger vehicle market into the public transport sector.
VinFast Auto Ltd. (NASDAQ:VFS) is an automotive company that designs and manufactures electric vehicles, including cars, e-scooters, and e-buses.
2. Enovix Corporation (NASDAQ:ENVX)
Market Cap: $2.44 billion
Number of Hedge Fund Holders: 24
Analyst Upside Potential: 86.51%
Enovix Corporation (NASDAQ:ENVX) is one of the Best Small Cap EV Stocks to Buy According to Analysts. Enovix Corporation (NASDAQ:ENVX) is set to report its fiscal third-quarter results for 2025 on October 29. Wall Street has a mixed opinion on the stock ahead of the earnings release.
The company posted a revenue of $7.47 million, which grew 98.20% year-over-year, topping estimates by $1.13 million. The EPS of negative $0.22 also stayed in line with the expectations. Analysts have a mixed opinion on Enovix Corporation (NASDAQ:ENVX). For instance, earlier on August 1, Jeff Osborne from TD Cowen assigned a Hold rating to the stock with a $15 price target. However, later on August 28 and September 11, William Blair and Craig-Hallum reiterated a Buy rating on the stock without disclosing price targets, respectively.
More recently, on September 14, Bill Peterson from J.P. Morgan also reiterated a Hold rating on Enovix Corporation (NASDAQ:ENVX) with a $12 price target.
Enovix Corporation (NASDAQ:ENVX) manufactures advanced lithium-ion battery cells that provide higher energy density and storage capacity compared to conventional batteries.
1. Aurora Innovation, Inc. (NASDAQ:AUR)
Market Cap: $9.96 billion
Number of Hedge Fund Holders: 41
Analyst Upside Potential: 118.18%
Aurora Innovation, Inc. (NASDAQ:AUR) is one of the Best Small Cap EV Stocks to Buy According to Analysts. Wall Street is bullish on Aurora Innovation, Inc. (NASDAQ:AUR) as the company approaches its fiscal third quarter 2025 earnings date. The company is set to release its fiscal third-quarter results on October 28, 2025.
Several analysts have expressed their bullish sentiment on the stock recently. For instance, earlier on September 15, Andres Sheppard from Cantor Fitzgerald reiterated a Buy rating on the stock with a price target of $12. More recently, on October 6, Ravi Shanker from Morgan Stanley also reiterated a Buy rating on Aurora Innovation, Inc. (NASDAQ:AUR) with an associated price target of $12.
Aurora Innovation, Inc. (NASDAQ:AUR) develops a self-driving platform that works across various vehicle types. The company also offers driverless trucking through the same platform.
While we acknowledge the potential of AUR 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 AUR and that has 100x upside potential, check out our report about this cheapest AI stock.
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