2 Best Undervalued EV Stocks to Buy in 2024

April 30, 2024 (Investorideas.com Newswire) EV stocks have declined in the market this year, especially compared to their counterparts in sectors like computing and artificial intelligence. The current financial state of the global economy and instability in the raw materials market are major reasons for this. However, the demand for clean energy is high, so EV stocks could rebound sooner rather than later. The argument for clean energy and a carbon-neutral footprint is more mainstream than ever, so it is only a matter of time before EV stocks record a rebound. Joel Lim, a financial analyst at Trading.biz, has identified the two best undervalued EV stocks to buy for massive rewards once the market corrects. If you want to solidify your position in the EV market before the rebound occurs, you should buy Tesla and Li Auto as soon as possible. Tesla (TSLA) Tesla is the biggest electric vehicle company in the world and has one of the biggest market shares in the EV industry. Towards the tail end of last year, the company released its highly anticipated cyber truck vehicle, which was well-received by the public. So much so that officials have confirmed a backlog for cyber truck orders. Once mass deliveries begin to roll out, we can expect an upside in revenue and subsequent price movement in the market. The company has also announced plans to launch another flagship electric vehicle with impressive features, such as a range of 620 miles and improved speeds. Joel Lim notes that “even though the EV industry is experiencing a struggle, Tesla is showing no signs of slowing down and is doubling down on efforts to capture mind share and market share.” Li Auto (LI) Li Auto is one of the EV giants in China’s new electric vehicle market. Even with the current state of the global EV industry, Li Auto recorded an impressive revenue of $14.6 billion last year. It also delivered an impressive 376,000 vehicles last year and has announced plans to 2x that number this year. Li Auto claims they will provide a total of 800,000 vehicles this year. Following the recent launch of a new vehicle model called LI MEGA alongside a 2024 version of its previous models, those plans are already underway. With a new flagship product on the market, Li Auto will likely record impressive delivery growth in the subsequent quarters of the year. Joel Lim notes, “Li Auto’s ambition is unmatched, which is evident from their ambitious claim to deliver 800,000 vehicles this year. They will also likely invest in new retail outlets to support the delivery of their vehicles across the globe.” More Info: This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

This content was originally published here.