Many electric vehicle (EV) stocks skyrocketed amid the buying frenzy in meme and growth stocks in 2021. However, many of those stocks subsequently crumbled as rising interest rates highlighted their staggering losses and popped their bubbly valuations. The broader slowdown of the EV market exacerbated that pressure.

But after that steep sell-off, some of those former highfliers look like contrarian plays. I believe Rivian Automotive (NASDAQ: RIVN), Li Auto (NASDAQ: LI), and Polestar Automotive (NASDAQ: PSNY) all have a shot at bouncing back this year. Let's take a closer look at these three EV stocks.

Image source: Rivian.

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Source Fool.com