5 Best EV Stocks to Buy Now

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In this article, we discuss the 5 best EV stocks to buy now. If you want to see more stocks in this selection, check out the 12 Best EV Stocks to Buy Now

5. XPeng Inc. (NYSE:XPEV)

Number of Hedge Fund Holders: 24

XPeng Inc. (NYSE:XPEV) is a Guangzhou, China-based EV company that is addressing the needs of the Chinese tech-savvy and middle-class consumers in the biggest EV market in the world.

XPeng Inc. (NYSE:XPEV) is also working on enhancing the driving experience by offering its proprietary advanced driver assistance system and in-car intelligent operating system. On September 22, Tim Hsaio at Morgan Stanley gave an Overweight rating on XPeng Inc. (NYSE:XPEV) stock with a target price of $41. The company recently revealed its fourth production model in the form of a G9 Flagship SUV that is expected to surpass the current production volume of the P7. The analyst cites the increase in benchmark interest rates by the Federal Reserve as one of the reasons for the correction in XPeng Inc.’s (NYSE:XPEV) stock price. This provides an attractive opportunity for investors to go long on one of the best EV stocks in the market.

Renaissance Technologies raised its stake in XPeng Inc. (NYSE:XPEV) by 257% during Q2 2022.

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