We recently compiled a list of the 10 High Growth EV Stocks to Invest In. In this article, we are going to take a look at where Cenntro Inc. (NASDAQ:CENN) stands against the other best High Growth EV stocks.
Automobiles that run on electricity rather than gas are referred to as electric cars, or EVs. Electric car stocks consist of companies that primarily manufacture electric vehicles. The electric vehicle business also includes companies that provide parts for electric vehicles, including batteries or autonomous driving systems.
S&P Global Mobility estimates that around 7.36 million of the 16 million cars sold in 2024 were not made in the United States, showing that President Trump’s 25% tariffs on imported cars, which have been in effect since March 2024, affect about 46% of the country’s auto market. On May 3, tariffs on some auto components, including engines and transmissions, went into effect.
However, the administration unveiled a two-year relief plan in response to industry criticism. In the first and the second year, automakers that manufacture in the United States are allowed to deduct import tariffs on parts up to 3.75% and 2.5% of the suggested retail price of a car, respectively. Automobiles having at least 85% U.S., Canadian, or Mexican components are exempt; by 2025, the percentage will rise to 90%. The overlapping tariffs on commodities, steel, and aluminum from Mexico and Canada have been waived for businesses. Industry groups have issued warnings that the tariffs would increase market maintenance costs, lower sales, and boost car prices.
Recently, according to the Cox Automotive report, in Q1 2025, sales of electric vehicles in the United States rose 11.4% year over year to around 300,000 units, making up 7.5% of all new vehicle sales, up from 7% in Q1 2024. New model launches fueled growth, with multiple brands either diversifying their EV lineups or making their first steps into the market. One significant automaker sold over 30,000 EVs, almost doubling its volume from the previous year. In Q1, another company that had not been involved in the EV market before contributed over 14,000 units. However, not all players grew; some established models experienced significant decreases as product strategies changed.
However, the market for EVs is facing more challenges. A well-known EV brand had a 26% decline in sales from its 2023 peak of 173,000 units to 128,000 units in Q1, a 9% year-over-year decline, and a 3% decline in market share. Future growth is threatened by ongoing tariffs on vehicles and essential commodities like aluminum and battery supplies, as well as policy uncertainty.
Nonetheless, the research firm Rho Motion projected that China’s prolonged subsidies and the new EU emissions targets will propel global EV and plug-in hybrid sales to increase by more than 17% in 2025, reaching 20 million units. China is the market leader, with EV sales forecast to jump by 40% to 11 million by 2024, and Latin America and Asia-Pacific will continue to dominate. Sales in Europe are anticipated to surge by 15% from 3 million units in 2024, even though there could be fines of €10 billion for missing emissions targets. Despite the uncertainties surrounding policy, U.S. sales have been projected to rise by 16%.
Rho Motion Head of Research, Iola Hughes, stated:
“In the US market, a lot of uncertainty has obviously hit the market in the last year or so, and we are expecting reduced EV forecasts,” “However, the shift to electric vehicles is still very much happening and we will still see growth over the next decade.”
A fleet of electric light vehicles recharging their batteries in a parking lot.
Our Methodology
For this article, we sifted through the online rankings to form an initial list of the 20 EV stocks. From the resultant dataset, we chose 10 stocks with an average 5-year revenue growth of over 20%.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (see more details here).
Cenntro Inc. (NASDAQ:CENN)
Average 5-Year Revenue Growth: 54.32%
Cenntro Inc. (NASDAQ:CENN) is a company that designs, manufactures, distributes, and offers services for commercial vehicles that run on hydrogen or electricity. The company’s commercial vehicles are made to assist city services, last-mile delivery, and other commercial applications for a range of fleet and municipal organizations. The business has also unveiled an open-platform, programmable, all-electric iChassis platform for automated and self-driving cars. The company’s largest geographic revenue comes from vehicle sales in the US, although it is also present in Europe, Asia, and other regions.
The business saw tremendous growth in 2024, as seen by its net sales, which rose from $10.4 million in 2023 to $31.3 million, a 200.2% year-over-year increase. Strong market penetration was shown by the significant growth in U.S. sales volume, which went from just $0.4 million to $19.3 million the year before. Cenntro Inc. (NASDAQ:CENN)’s operational efficiency helped it reduce its adjusted EBITDA loss from $39.3 million in 2023 to $28.2 million.
During the year, 1,122 electric commercial vehicles were sold, including 145 Logistar 400 Class 4 vehicles in the U.S. (compared to just one in 2023), 492 Avantier vehicles in Europe and South America (compared to 97), and 911 iChassis units (compared to 303). These sales show that demand is growing globally and that key product lines are gaining traction.
Overall, CENN ranks 4th on our list of the High Growth EV Stocks to Invest In. While we acknowledge the potential of CENN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than CENN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
