The 17 Best EV Stocks to Buy on the Dip

A revolution has to start somewhere.

And yesterday, the revolution of phasing out gas pumps in favor of EV charging stations started in a tiny California city by the name of Petaluma.

That city – which is located just north of San Francisco and is home to about 60,000 people – just passed legislation that permanently bans the construction of new gas stations.

Petaluma is the first city in the world to implement such a ban.

It won’t be the last…

Electric vehicles are taking over the world. Improving technology, falling costs, shifting consumer demand, increasing supply, and vigorous government support are all converging to set the stage for EVs to become ubiquitous by 2040.

This EV megatrend is only accelerating.

In addition to Petaluma outlawing new gas stations, the entire state of California recently banned the sale of new gas-powered cars by 2035. The state is also requiring that 75% of heavy-duty trucks sold locally be electric by 2035.

Clearly, California is on track to have an entirely “clean” vehicle fleet by the 2030s.

They won’t be alone.

New Jersey has a similar ban on gas-powered cars by 2035. New York City is banning new gas hookups by 2030. Michigan is going carbon-neutral by 2050. The state of Washington is pushing forward on a bill to ban new gas car sales by 2030.

America is pushing forward into an all-electric future.

And, believe it or not, the U.S. is way behind on this trend.

EV penetration in the U.S. hovers around 3%. Pretty much every country in Europe – and a handful of countries in Asia – are above that. Norway is above 60% EV penetration!

They’re not slowing down over there, either.

China’s EV sales are expected to rise 40% in 2021. Britain’s EV sales are expected to nearly double. Globally, EV sales are projected to rise 70% this year…

Folks, the writing is on the wall: EVs are taking over the world, and this march toward global domination is only accelerating.

So… when I see that many EV stocks have retreated significantly in recent weeks… I see a disconnect, between industry fundamentals (improving) and EV stock prices (falling).

Disconnects in financial markets are buying opportunities.

This one is no exception – and so I have my buying list ready.

At the top of that list are NIO (NASDAQ:NIO) and Tesla (NASDAQ:TSLA). These two companies continue to leverage industry-leading battery technology, premium branding, and production capacity to dominate the EV market. Both companies are growing very quickly, launching new products at an impressive pace, and expanding distribution and production. Both companies have great futures.

Recent weakness in both stocks equals golden buying opportunities.

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