In this article, we discuss the 5 best electric vehicle stocks to buy for the long term. If you want to read about some more EV stocks for the long term, go directly to “EVs Still Appear Conservative”: 10 Best Electric Vehicle Stocks to Buy for Long Term.
5. Ford Motor Company (NYSE:F)
Number of Hedge Fund Holders: 46
Ford Motor Company (NYSE:F) designs, manufactures, markets, and services a range of Ford vehicles. In addition to hundreds of millions poured into EV manufacturing over the past few years, Ford is listed among the best electric vehicle stocks to buy for the long term since it is also investing in autonomous driving, a key EV growth driver. On September 12, the firm said it was expanding the availability of its advanced driver assistance technologies, BlueCruise and ActiveGlide, to the Lincoln and Mustang models.
On September 20, Morgan Stanley analyst Adam Jonas maintained an Equal Weight rating on Ford Motor Company (NYSE:F) stock with a price target of $14, noting the market was not yet out of the woods in terms of supply chain tightness in auto.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Ford Motor Company (NYSE:F), with 29 million shares worth more than $323 million.
In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Ford Motor Company (NYSE:F) was one of them. Here is what the fund said:
“Ford (NYSE:F) is another example of typical industrial manufacturing business executive mindsets. The April 18, 2022, Bloomberg Businessweek cover story features Ford CEO Jim Farley behind the wheel of an electrified Ford F-150 Lightning. The article is titled, “Hey Elon, THIS is a truck.” I thought the article was terrific. One idea especially stood out to me. Since the F-150 is such a popular vehicle, it “argued for a gradual approach to electrification. Essentially the company retrofitted an existing F-150 with an electric powertrain rather than develop an entirely new truck.” No all-in financial and operation bet by this company on electrification.”