Today we’re kicking off a new spotlight on another very popular segment in the EV space – stocks. Over the past couple years, we’ve seen EV automakers financial bolstered or inhibited by IPOs, SPAC Mergers, or updates to their EV plans. Below, you can see how some of the companies building EVs compare side by side on Wall Street and how far they have come – or fallen – in the past year.
Table of contents
Comparing three different groups of EV stocks
Below you will find three separate tables, each unique in its own way, but each part of one cohesive set of data – how companies that are building some degree of EVs are doing stock-wise over the last month, how each compares to its competitors, and how each company’s numbers compare to its status a year ago.
The first chart is a global stock comparison, including legacy and EV automakers around the globe. We have included their highest stock price in their primary market, regardless if it’s in the United States or not. For instance, companies like Volkswagen Group and BMW are primarily sold on the XETRA German Electronic Exchange, Volvo Cars is on the market in Sweden, etc.
The second chart includes EV stocks sold in the US market. You may see some of the same automakers, but they may have different tickers, as they pertain to one of the United States’ several local exchanges.
Last but not least, we couldn’t provide EV stock numbers without delivering a table dedicated specifically to EV automakers, right? The third table consists of automakers that manufacturer EVs only – no legacy automakers that are starting to dabble in electrification here. In this table, you’ll see some startups that have gone public in recent years and how they’ve fared so far. Spoiler alert – not great.
Keep in mind, not one granule of this post is financial advice. It is simply stock data relevant at the time of this posting, compiled into one place for you to peruse, compare, and draw your own conclusions. With that, let’s start with the top ten EV stocks around the globe in October.
* – Compared to 9/30/22 IPO / ** – Compared to 11/8/21 IPO
It should come as no surprise that American automaker Tesla is number one in EV stock. Despite a pretty big fall compared to October 2021, the EV company is still nearly double the value of its second place competitor Toyota, which it dethroned as the world’s most valuable automaker years ago.
We feel a bit generous including Toyota in this list of EV stocks, because it’s just starting to dip a pinky toe into the BEV pool with its bZ4X, which will see boosted production following a massive recall pertaining to the EV’s wheels literally falling off. A steady outlook for BEV production could be a reason for Toyota being in the green compared to a month ago. Still, it remains down overall YOY.
Following its IPO split from parent Volkswagen Group on September 30, Porsche showed the biggest gains in October by a lot, jumping nearly $18 in value. We will keep eyes on this going forward to better gauge its early valuation and see how it pans out over time.
Moving our sights to US-specific markets, Tesla is again your top dog (get used to it). Toyota again grabs silver, but Build Your Dreams (BYD) is holding in third place for October, despite a near $11 loss in valuation compared to a month ago. Still, it has bested American automaker GM.
What may be most impressive about BYD’s success in the US market so far is that the company does not sell passenger EVs in the country – only commercial vehicles like buses and heavy-duty trucks. Household names round out the rest of the US list and include two nascent EV automakers in Rivian and Lucid Group. More on them below.
If you’re here reading on Electrek, you may agree that this last list is the most exciting and probably most volatile head to toe. These 13 companies make up a lot of the EV stock being sold around the world. More importantly, they showcase just how drastic valuations can be between established scaled automakers and EV startups.
Tesla is once again the group leader (surprise surprise), followed by BYD, who continues to expand its footprint outside of China and into new markets, particularly in Europe right now.
The next two on the list are names you’d expect – Rivian and Lucid. Both are relatively young in the stock world but show minimal drops this month despite growing pains in scaling their respective EV production lines. YOY comparisons have not been kind to either young automaker, especially Rivian, which is down nearly $100 per share following its massive IPO in November of 2021.
Other Chinese EV automakers with US stock market presence join BYD on the list, including NIO and XPeng. Like BYD, neither sell passengers EVs in the country yet. Companies 10 through 13 are the current bottom feeders – EV startups that have yet to deliver an EV, and their valuation shows it.
Each of these companies has its own unique potential in a booming market, but each has faced its own setbacks in reaching scaled production. Whether their hurdles have been financial, infrastructural, or even controversial, these startups continue to fight on.
Of all of the companies on these EV stock lists, these may be most exciting to watch succeed and grow their valuation – if they can. Time will tell.
That’s all for now, check back with Electrek next month for the November report, so we can once again compare how these EV company stack up. Not only against one another, but also against themselves.
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American EV automaker Rivian is expanding across the pond into the UK, hoping to tap into the region’s talent pool in artificial intelligence engineering.
Rivian is a growing American EV brand with expanding office footprints as much as its lineup of unique electric trucks and SUVs. The company is currently headquartered in Palo Alto, California, with its main production facility located in Normal, Illinois alongside plans for a second production footprint about 40 minutes outside of Atlanta, Georgia.
Other US locations currently include offices in Irvine and Carson, CA, Wittmann, AZ, and Plymouth, MI. Outside of the US, Rivian operates out of offices in Vancouver, BC, Canada, Amsterdam, Netherlands, and Belgrade, Serbia.
This morning, Rivian announced its latest international office in London, UK, which will become an AI-centric development hub.
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Rivian’s production facilities in Normal, IL / Source: Scooter Doll
Rivian to open AI Hub in the UK
According to a release from Rivian early this morning, it sees the UK as rapidly becoming a world leader in artificial intelligence engineering, and is looking to tap into that talent pool with the new international office.
While Rivian’s current Autonomy Platform enables drivers to utilize hands-free, eyes-on highway driving, the American automaker intends to continue to evolve such tech to offer greater levels of autonomous capabilities.
Rivian shared that its second-generation EVs were designed with an “AI-centric approach.” As its Gen2 vehicle fleet continues to develop and grow, the automaker has been collecting more and more data to help accelerate the improvements to ADAS technology. Per the company:
Rivian believes the combined strength of its perception platform and in-vehicle data infrastructure will enable it to build a Large Driving Model, unlocking unparalleled understanding of complex driving scenarios and accelerating the path to safer, more capable autonomous features.
Rivian said the future work done at its new UK AI hub will enable its EVs to improve in the future via over-the-air (OTA) updates. Details remain light, but Rivian shared plans to host an “AI and Autonomy Day” later this year and promised to share more about its product and technology roadmap.
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Waev, the company best known for its iconic GEM electric low-speed vehicles (LSVs), just unveiled a brand new lineup of commercial electric carts and LSVs. And this time, they’re not messing around when it comes to utility. Dubbed the Fusion line, these new lithium-ion-powered vehicles include mashups plucked from the worlds of golf carts, street-legal shuttles, and jobsite pickup trucks.
The Fusion lineup includes six different models: three designed for people-moving and three built for utility work. But all six still seem to be aimed squarely at commercial, municipal, and industrial fleets.
Whether that’s running security at a stadium, shuttling guests at a resort, or hauling equipment around a worksite, there looks to be something in the Fusion family that probably fits the bill.
On the people-moving side, Waev is offering 4, 6, and 8-passenger models, all of which feature a flip-up rear seat that converts into a cargo deck, a near ubiquitous feature among modern golf carts and LSVs with rear-facing benches that helps them pull double duty as a light utility vehicle. The feature gives them added flexibility for things like maintenance staff, hospitality transport, or even large campus tours, letting them carry a large number of passengers, yet still be capable of stacking boxes or equipment in the rear.
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The utility versions look a bit different with more muted matte black bodywork, plus come with electrically-actuated hydraulic dump beds, 2-inch ball hitches, and even orange seat belts for jobsite visibility. It’s harder to forget to put on the seatbelt when it’s blindingly orange.
And yes, the Fusion Utility Long Bed basically looks like a pickup truck built on a golf cart chassis, which I find equal parts strange and endearing. But then again, I’m the guy who infamously kicked off the great American mini-truck trend a few years ago when my hilarious little tiny-truck went viral, so maybe I’m a bit biased when it comes to fun little utility vehicles.
All Fusion models are available in both “cart” and “LSV” configurations. The carts are speed-limited to 19 mph (30.5 km/h) and come with serial numbers, making them street-legal only in limited areas that have passed local ordinances permitting golf carts to use public roads.
The LSV versions get full VINs, meet federal low-speed vehicle safety standards (meaning over a dozen regulations on manufacturing standards and safety equipment), and can be driven up to 25 mph (40 km/h) on public roads where LSVs are permitted by state law.
Waev is sticking with lithium-ion power here, specifically a 105Ah Marxon pack that’s both heated and insulated for cold-weather use. That’s a big step up from the old-school lead-acid setups still found in some fleet carts (and, if we’re being honest, still offered on some of Waev’s other vehicles).
The company claims to offer automotive-grade manufacturing processes and reliability on its vehicles, along with Bluetooth diagnostics and a smartphone app for managing the fleet.
Other upgrades include LED lighting, back-up cameras, AVAS pedestrian alert systems, and standard three-point seat belts for all passengers. Optional extras like ladder racks, beacon lights, and upgraded tires make it even easier to tailor each unit to the specific job at hand.
The Fusion line slots into Waev’s already broad family of low-speed EVs and fleet vehicles, including the steel-bodied Taylor-Dunn utility vehicles, Tiger heavy-duty tow tractors for airports and warehouses, and the classic GEM lineup that’s been a staple of street-legal fleet transport since the late ‘90s.
It also looks like Waev isn’t just trying to sell the hardware here – it’s pushing hard on full-service fleet support, too. The company is leaning on an extensive dealer network across the U.S., Mexico, Canada, and Australia, and all Fusion models are available through Sourcewell and Canoe procurement programs for simplified public-sector purchasing.
One big thing we’re not seeing, though, are the prices. It’s more of a “contact us for a quote” situation, which means exactly what you think it means. We’ll try to learn more, but don’t expect to make it out of the lot without a measurably lighter wallet.
Electrek’s Take:
This is the kind of product line that probably won’t turn heads in your local grocery store parking lot, but it’s exactly the kind of quiet EV revolution that’s transforming fleets behind the scenes. Lithium-ion golf carts and LSVs that can tow, haul, and shuttle without the noise or emissions of gas engines? That’s a win for everyone –from municipal fleets to private campuses.
And frankly, I’m here for the golf cart pickup truck vibe. Street legal, work-ready, and just weird enough to be cool. The fact that the tailgate seems to swing all the way down and doesn’t lie flat like a normal pickup truck’s gate was a swing-and-a-miss by the designers – I don’t know how that got through – but everything else looks great! And hey, I guess I could always add a pair of tailgate cables if I wanted.
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Tesla’s retro-futuristic diner with Superchargers and giant movie screens is ready to open, and I have to admit, it looks pretty sick.
This project has been in the works for a long time.
In 2018, Elon Musk said that Tesla planned to open an “old school drive-in, roller skates & rock restaurant at one of the new Tesla Supercharger locations in Los Angeles.” It was yet another “Is he joking?” kind of Elon Musk idea, but he wasn’t kidding.
7 years after being originally announced, the project appears now ready to open:
Musk said that he ate at the diner last night and claimed that it is “one of the coolest spots in LA.” He didn’t say when it will open, but Tesla vehicles have been spotted at Supercharger and people appear to be testing the dinning experience inside.
A Tesla Optimus Robot can be seen inside the diner on a test rack. It looks like Tesla might use one for some tasks inside the diner.
I think it looks pretty cool. I am a fan of the design and concept.
However, considering the state of the Tesla community, I don’t think I’d like the vibes. That said, it looks like Tesla isn’t prominently pushing its branding on the diner.
You can come and charge there, but it looks like Tesla is also aiming to get a wider clientele just for dining.
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