1 Electric Vehicle Stock to Buy Hand Over Fist and 2 With Serious Red Flags
Electric vehicle (EV) stocks have gotten a lot of attention over the last few years as production has increased and multiple companies have come public, but that doesn't mean all EV stocks are good investments. Companies still have to make money building and selling vehicles, which has historically been the hardest part of the auto business.
Given the current trends, I think General Motors (NYSE: GM) is the one EV stock to buy hand over fist, while ChargePoint (NYSE: CHPT) and Canoo (NASDAQ: GOEV) have some serious red flags.
GM isn't known as an electric vehicle company today, but its future is electric. Production is low but ramping up on the Chevy Bolt, GMC Hummer EV, and Cadillac Lyriq -- and that's just the start of a plan to be all-electric by 2035. On top of those vehicles, GM owns a majority stake in Cruise, which is launching a fully autonomous ride sharing vehicle that will be manufactured by GM.
Source Fool.com
