5 Best EV Stocks Under $5

In this article, we will discuss the 5 best EV stocks under $5. If you want to see more bargain EV stocks and read our discussion of the EV industry, go directly to the 10 Best EV Stocks Under $5.

5. Electrameccanica Vehicles Corp. (NASDAQ:SOLO)

Stock Price as of August 3: $1.580

Number of Hedge Fund Holders: 9

Electrameccanica Vehicles Corp. (NASDAQ:SOLO) is a Canadian vehicle manufacturer that operates in the EV segment through its cost-effective single-seater and three-wheel variant SOLO.

Electrameccanica Vehicles Corp.’s (NASDAQ:SOLO) EV provides a top speed of 80mph, a range of 40 miles, and sells at a retail price of $18,500. The EV charges from 0% to 85% in two-and-a-half hours on a level two charger. The sale of EVs is expected to compound at an average rate of 34% annually to reach four million by 2030 as the world is transitioning from conventional fuel-powered vehicles. The U.S government is also injecting $7.5 billion as part of its infrastructure bill into developing EV charging capabilities across the U.S, which will benefit a company like Electrameccanica Vehicles Corp. (NASDAQ:SOLO).

Overall, 9 hedge funds reported owning a stake in Electrameccanica Vehicles Corp. (NASDAQ:SOLO) as of Q1 2022.