3 Electric Vehicle Stocks That Aren't Tesla

These firms stand to benefit from increased adoption of electric vehicles and are more attractively valued than market leader Tesla

Lauren Solberg 13 May, 2021 | 9:45AM
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BMW electric car

The Biden administration's proposed infrastructure plan calls for 500,000 new electric vehicle charging stations nationwide. Governor Gavin Newsom recently announced that California will mandate all new cars and passenger trucks sold in the state to be zero-emission vehicles by 2035.

Indeed, many have high hopes for the electric vehicle market. Morningstar analyst Seth Goldstein forecasts a 2028 global adoption rate of 15% and explains "when you count the lower variable operating costs from electricity versus gasoline, you're going to have a cost of ownership from electric vehicles that's going to be on par with traditional internal combustion engines."

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Bayerische Motoren Werke AG87.43 EUR0.00
BorgWarner Inc47.03 USD0.00Rating
Nissan Motor Co Ltd587.80 JPY1.27Rating
Tesla Inc843.03 USD0.00Rating

About Author

Lauren Solberg  is a data journalist at Morningstar