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July 29, 2021, 6:18 p.m. EDT

4 Top EV Stocks To Watch Before August 2021

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Jul 29, 2021 (StockMarket.com via COMTEX) -- Are These The Best EV Stocks To Buy Before Next Month?

As investors look for the next big industry in the stock market , electric vehicle (EV) stocks come to mind easily. After all, investors would be looking towards long-term growth, and the EV industry seems to fit this category. It is no secret that governments all over the world are starting to emphasize cleaner energy sources. Even President Joe Biden has backed the future of the auto industry going electric. We could see this through the White House's current infrastructure bill that will see $174 billion heading towards the industry.

Many companies are also starting to realize the potential of EVs. Today, South Korea's Hyundai Motor Company ( OTCMKTS: HYMTF ) and LG Energy Solution announced that they would set up a joint venture in Indonesia to establish a battery cell plant for electric vehicles. Both companies will be investing $1.1 billion each owning half the business. These are moves from global automakers to secure EV batteries in anticipation of a rise in sales from government subsidies as governments worldwide seek to cut carbon emissions. Therefore, it would make sense that investors are always on the lookout for opportunities in the EV industry. So, do you already have a list of the top EV stocks in the stock market today?

Best EV Stocks To Watch In August 2021

Ford Motor Company

Ford Motor is no stranger to most. The company has been around for more than a century and has adapted through many eras. In detail, the automobile company that manufactures, designs, and markets trucks, utility vehicles and is now venturing into EVs. F stock has quietly been one of the better performing EV stocks in the stock market. Smart investors who bet on the company stock have doubled their earnings over the past year.

Last week, an announcement stated that Argo AI and Ford will launch their self-driving vehicles on Lyft's ( NASDAQ: LYFT ) network by the end of this year. As part of the network access agreement, it will deploy Ford self-driving cars with safety drivers on the Lyft network, with passenger rides beginning in Miami first, then in Austin starting in 2022. The unique collaboration brings together all of the parts necessary to create a viable autonomous ride-hailing service.

Ford has also recently announced its second-quarter earnings. It was surprising for some as it reported better-than-expected quarterly results. The company's revenue rose 38% to $26.8 billion, more than the $23 billion analysts expected. This is largely driven by strong sales in its home market. Due to this, it has raised its full-year forecast for adjusted earnings to a range of $9 billion to $10 billion before interest and taxes. Given these exciting developments, would you add F stock to your watchlist?

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Tesla Inc

Following that, we have the leading EV and clean energy company based in California, Tesla. The company specializes in electric vehicles and has an energy generation and storage segment that includes the design, manufacture, installation, sales, and leasing of solar energy systems and storage products. As the poster child of this booming industry, TSLA stock has more than doubled its value over the past year.

On Monday, Tesla announced record second-quarter results that blew past estimates. Impressively, its revenue came in at $11.96 billion versus analyst expectations of $11.2 billion. Meanwhile, its income almost increased tenfold, coming in at $1.1 billion. This is a huge milestone for the company as its income has finally crossed the $1 billion mark for the first time in its history.

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