In this article, we will list the 5 Best Small Cap EV Stocks to Buy Right Now. Please visit 8 Best Small Cap EV Stocks to Buy Right Now if you would like to see the extended list and the methodology behind it.

5. Wolfspeed, Inc. (NYSE:WOLF)

On April 22, 2026, Wolfspeed, Inc. (NYSE:WOLF) announced the appointment of Yasuhisa Harita as regional president for Asia Pacific, effective June 1, 2026. Harita will be based in Tokyo and will lead the company’s commercial strategy across Japan, Korea, and the ASEAN region.

Last month, Wolfspeed, Inc. (NYSE:WOLF) completed its previously announced private placements of convertible notes, common stock, and pre-funded warrants. In connection with the transactions, the company redeemed approximately $475.9M of its Senior Secured Notes due 2030, which is expected to reduce annual interest expense by about $62M and total debt by approximately $97M. The private placements included $379M of 3.5% Convertible 1.5 Lien Senior Secured Notes due 2031, 3,250,030 shares of common stock priced at $18.458 per share, and pre-funded warrants to purchase up to 2,000,000 shares at $18.448 per warrant, each exercisable at $0.01 per share. The shares were issued at a 10% premium to the March 18, 2026, closing price. Gross proceeds were used to fund the note redemption, along with associated premiums, accrued interest, and related fees and expenses.

Wolfspeed, Inc. (NYSE:WOLF) focuses on silicon carbide and gallium nitride technologies across global markets.

4. Lotus Technology Inc. (NASDAQ:LOT)

On April 10, 2026, Lotus Technology Inc. (NASDAQ:LOT) reported Q4 revenue of $163M compared to $272M last year and adjusted EBITDA of ($62M) versus ($398M) a year ago. Qingfeng Feng said the company continued executing its strategy despite external headwinds, citing efforts to advance technologies, refine its product mix, and deliver “industry-leading driving performance.” Qingfeng Feng also pointed to its global footprint and the achievement of UN R171.01 certification, along with the launch of its first PHEV vehicle, as part of efforts to support growth and maintain competitiveness.

Last month, the company launched its new SUV, For Me, known as Eletre X in Europe, in Beijing on March 29. The model, built on the new X-Hybrid Architecture, is offered in Standard and Special Edition variants priced at RMB 508,000 and RMB 558,000, respectively, with deliveries starting March 30.

Earlier in March, Lotus Technology received certification under UN Regulation No. 171, 01 Series, becoming the second globally operating automaker to achieve this standard. Its Eletre hyper-SUV is set to roll out the Highway Navigation Pilot function in Europe via over-the-air updates beginning June 2026. The company said Eletre is the first and only China-built model certified under UN R171.01 and equipped with the HNP function as of the announcement.

Lotus Technology Inc. (NASDAQ:LOT) designs, develops, and sells battery electric lifestyle vehicles globally.

3. ChargePoint Holdings, Inc. (NYSE:CHPT)

On April 21, 2026, ChargePoint Holdings, Inc. (NYSE:CHPT) introduced Express Solo, described as “the world’s fastest standalone EV charger,” capable of delivering 600kW charging speed to a single vehicle and marking the launch of the company’s DC fast charging architecture.

Earlier in the month, ChargePoint said it enabled more than 90 charging ports for the South Coast Air Quality Management District across Los Angeles, Orange, Riverside, and San Bernardino counties. The deployments are intended to provide charging access for employees and the public. Rick Wilmer said the company is working to deliver “accessible and reliable charging options” while supporting efforts to reduce greenhouse gas emissions and improve air quality.

Last month, ChargePoint launched ChargePoint Premier Care and the ChargePoint Support Portal. Premier Care offers personalized support with a dedicated expert to help manage charging operations, while the Support Portal is a self-service platform designed to give station owners visibility and tools to address issues more efficiently.

ChargePoint Holdings, Inc. (NYSE:CHPT) provides electric vehicle charging technology solutions across North America and Europe.

2. Blue Bird Corporation (NASDAQ:BLBD)

On April 14, 2026, Blue Bird Corporation (NASDAQ:BLBD) appointed Lyndon Lie as senior vice president of engineering. In this role, Lie will oversee all engineering functions across the company’s platforms, including product development, platform engineering, innovation, and execution, and will also lead the integration of engineering activities related to the Micro Bird acquisition. Lie previously held senior engineering and technology leadership roles at Volkswagen Group of America, Nikola Corporation, General Motors, and TPI Composites.

Earlier in the month, Blue Bird Corporation (NASDAQ:BLBD) completed its acquisition of Girardin Group’s stake in the Micro Bird joint venture, taking full ownership of the business. The transaction, valued at approximately $200M and funded through a mix of cash and Blue Bird common stock, is part of the company’s effort to streamline operations and expand its market reach. With the deal closed, Blue Bird now fully consolidates its North American operations, and the ongoing integration is expected to support a broader product portfolio across Type A, C, and D school buses, as well as multi-purpose and commercial vehicles spanning diesel, gasoline, propane, and electric powertrains.

Blue Bird Corporation (NASDAQ:BLBD) designs, engineers, manufactures, and sells school buses across the United States, Canada, and international markets.

1. Gentherm Incorporated (NASDAQ:THRM)

On April 23, 2026, Gentherm Incorporated (NASDAQ:THRM) reported Q1 adjusted EPS of 84c, above the 51c consensus, and revenue of $393.7M compared to the $362.23M consensus. Bill Presley said the team “executed well in Q1,” pointing to improved performance driven by stronger volumes and progress in building a more robust operating system. Bill Presley also said the quarter marked a “strategic inflection point” following the announced combination with Modine Performance Technologies, highlighting an expanded product portfolio, broader end market exposure, and value creation opportunities, while acknowledging potential near-term volatility.

Gentherm Incorporated (NASDAQ:THRM) maintained its 2026 outlook, guiding revenue of $1.5B to $1.6B versus a $1.54B consensus and adjusted EBITDA of $175M to $195M.

On April 14, 2026, Stifel lowered its price target on Gentherm Incorporated (NASDAQ:THRM) to $37 from $41 and maintained a Buy rating on the shares, saying Q1 earnings season is expected to “provide few surprises or guidance changes to act as catalysts” across its flow control and multi-industry coverage.

Gentherm Incorporated (NASDAQ:THRM) develops and sells thermal management and pneumatic comfort technologies across global markets.

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