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Nov. 22, 2021, 5:36 p.m. EST

5 EV Stocks To Watch For Your Late November Watchlist

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Nov 22, 2021 (StockMarket.com via COMTEX) -- Do You Have These Top EV Stocks On Your December 2021 Watchlist?

Electric vehicle (EV) stocks are among the most active stocks in the stock market today. By and large, this is mostly thanks to a variety of short-and long-term factors. For starters, investor hype around emerging names in the field like Rivian ( NASDAQ: RIVN ) is putting the industry in the spotlight now. Hot IPO's aside, there is also long-term growth potential to consider as well. Namely, EVs are, in theory, part of the equation when it comes to tackling climate change. With major governments across the globe trying to cut down their country's emissions, this is apparent. Because of all this, I could see investors watching the top EV stocks in the stock market now.

For one thing, some of the biggest names in the EV trade continue to make aggressive plays as well. As of last week, Ford ( NYSE: F ) is now working together with chip manufacturer GlobalFoundries ( NASDAQ: GFS ). Through the current deal, the duo are working to bolster Ford's chip supply. In doing so, Ford would be directly addressing the global chip shortages head-on. Regardless of whatever reason you have for eyeing EV stocks now, there are plenty of options. With that said, could one of these EV stocks be worth buying now?

Best EV Stocks To Watch Right Now

XPeng Inc.

First on this list, we have XPeng, a leading smart EV company that develops and manufactures EVs in China. Its sedans and SUVs have gotten the attention of the large and growing base of technology-savvy middle-class consumers in China and the company continues to build momentum. The company also develops in-house its full-stack advanced driver-assistance system technology and in-car intelligent operating system. XPEV stock has risen by over 65% in the last 6 months.

Last week, the company unveiled a new electric SUV called the G9 and it plans to launch it in the third quarter of 2022 in China. Impressively, the G9 will feature Xpeng's Xpilot semi-autonomous driving system, lidar technology, and Nvidia's ( NASDAQ: NVDA ) DRIVE Orin.

"G9 is our first model to be conceived and developed from the ground up for both the international and Chinese markets, bringing our most sophisticated designs to our customers worldwide," Xpeng Co-Founder Henry Xia said in a press release. Given this exciting piece of news, will you be paying close attention to XPEV stock right now?

[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know

Nio Inc.

Next up is Nio, a pioneer in China's EV market. On top of designing and manufacturing its lineup of EVs, the company also utilizes next-generation technologies in connectivity, artificial intelligence, and autonomous driving. It also offers comprehensive value-added services and a convenient and innovative suite of charging solutions to its users. This includes Power Swap, its innovative battery swapping service.

On November 9, 2021, the company reported its third-quarter financials. Firstly, deliveries of vehicles for the quarter were 24,439, doubling from a year earlier. Secondly, its vehicle sales were a whopping $1.34 billion for the quarter, also doubling year-over-year. The company also ended the quarter with $7.3 billion in cash and cash equivalents.

Impressively, this is done despite continued supply chain volatilities. Not resting on its laurels, the company continues to accelerate its products and technologies development and will be bringing new products based on its Nio Technology Platform 2.0 to users in 2022. With that being said, will you consider investing in NIO stock?

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