In this article we discuss the 5 best EV stocks to buy now. If you want to read our detailed analysis of the EV industry, go directly to 10 Best EV Stocks To Buy Now.
5. BlackBerry Limited (NYSE: BB)
Number of Hedge Fund Holders: 31
Blackberry is an excellent EV software play to gain exposure to the electric vehicles market. The company has several partnerships with major EV companies to power their cars with smart software. Blackberry last year entered an agreement with China’s Xpeng Motors. In July 2020, Canoo said its EVs will be powered by BlackBerry QNX operating system (OS), including radar sensors, parking sensors and camera.
As of the end of the fourth quarter, 31 hedge funds in Insider Monkey’s database of 887 funds held stakes in BB, compared to 24 funds in the third quarter. Fairfax Financial Holdings is the biggest stakeholder in the company, with 46.7 million shares, worth $309.7 million.
4. Geely Automobile Holdings Limited (OTCMKTS: GELYF)
Number of Hedge Fund Holders: N/A
Geely is one of the most popular EV companies in the world. The Chinese company recently launched a new brand of EVs called Zeekr. Geely recently entered into a partnership with Volvo after which the two companies will merge their powertrain operations. The company sold 1,320,217 units of vehicles in 2020. Foxconn and Geely recently joined hands for a JV targeted at car production, consulting, intelligent driving systems and related services.
3. Baidu, Inc. (NASDAQ: BIDU)
Number of Hedge Fund Holders: 51
Chinese internet giant ranks 3rd on the list of 10 best EV stocks to buy now. The company earlier this year said it will launch its first self-driving full electric vehicle with Geely in the next three years.
As of the end of the fourth quarter, 51 hedge funds in Insider Monkey’s database of 887 funds held stakes in Baidu, compared to 43 funds in the third quarter. Jim Simons’ Renaissance Technologies is the biggest stakeholder in the company, with 8.6 million shares, worth $1.9 million.
Saturna Capital Corporation, in their Q4 2020 investor letter, mentioned Baidu, Inc. (NASDAQ: BIDU) and emphasized their views on the company. Here is what Saturna Capital Corporation has to say about Baidu, Inc. in their Q4 2020 investor letter:
“In the fourth quarter, Baidu produced the strongest returns. Baidu’s strong quarterly performance is a testament to the premium (some might call it a bubble) markets are placing on electric vehicle and renewable energy companies. Until mid-December, Baidu’s stock remained range-bound and only changed when it was reported the company had plans to enter the electric vehicle market. While we see a bright future for electric vehicles and renewable energy, we remain committed to our investment process that focuses on business fundamentals over market frenzy.”
2. BYD Company ADR (OTCMKTS: BYDDY)
Number of Hedge Fund Holders: N/A
China-based BYD makes cars, battery-powered bicycles, buses, forklifts, solar panels, trucks and rechargeable batteries. The company’s business is spread across various markets including trucks, e-cycles, ICE vehicles, semiconductors and monorail systems, giving it a strong leverage over its competitors.
Legendary investor Warren Buffett’s Berkshire Hathaway owns an 8.2% stake in the company.
1. General Motors Company (NYSE: GM)
Number of Hedge Fund Holders: 70
General Motors is one of the best EV stocks to buy now. The company plans to launch 30 EVs around the world by 2025. The company intends to launch electric versions of Cadillac, GMC, Chevrolet and Buick. Its Chevy Bolt EV is extremely famous in the US.
With a $3.02 billion stake in General Motors, Warren Buffett’s Berkshire Hathaway owns 72.5 million shares of the company as of the end of the fourth quarter of 2020. Our database shows that 70 hedge funds held stakes in General Motors as of the end of the fourth quarter, versus 60 funds in the third quarter.
Junto Investments, in their Q4 2020 investor letter, said that they acquired a position in General Motors Company (NYSE: GM), and so far it’s paying off bigtime. Here is what Junto Investments has to say about General Motors Company in their investor letter:
“General Motors was the biggest gainer. We managed to buy it at a screamingly cheap price in the middle of March. A lot of interesting news has emerged about GM recently, including the new electric product delivery system BrightDrop and GM Cruise’s team-up with Microsoft Azure to commercialize self-driving cars in 2021. GM’s intrinsic value is crystallizing and the company is worth a whole lot more than is still reflected in the market.”
You can also take a peek at Cathie Wood’s Thoughts on the Future, ARK’s Portfolio and Latest Stock Picks and Billionaire Paul Tudor Jones’ Top 10 Stock Picks and Latest Portfolio.
