Electric cars use electricity to run with rechargeable batteries. They don’t have any exhaust fumes and produce fewer emissions than standard petrol or diesel cars. We’ve listed some electric car stocks and explained how to get started.
There are a number of incentives worldwide to getting an electric car. In the UK, those buying electric cars can make use of the “Plug-in Car Grant”, which covers up to a 35% discount on the vehicle’s recommended retail price, up to a limit of £5,000. The UK government supports “Plugged-In Places”, a program designed to install vehicle recharging points across the UK.
As well as this, all electric vehicles qualify for a 100% discount from the London congestion charge.
To help reduce our impact on the environment, the UK has plans to end the sales of new petrol and diesel vehicles by 2030, as set out in the government’s 25 year environmental plan.
Here are some of the companies leading the way in electric cars.
Tesla is an electric vehicle and clean energy company. It creates electric cars, battery energy storage, solar panels and solar roof tiles. Tesla was founded in 2003 as Tesla Motors.
Elon Musk, the CEO of Tesla was, until the end of February 2021, the world’s richest man. He fell behind Amazon founder Jeff Bezos when the plunging price of Tesla shares dropped him down to second place.
Get more detailed information and learn how to buy Tesla shares
Nio is a Chinese car manufacturer headquartered in Shanghai that specialises in electric vehicles. Nio has a network of 131 battery swap stations in 58 cities in China.
Nio cars are fitted with NOMI, which is AI technology that can control the music and take selfies of your passengers.
Get more detailed information and learn how to buy NIO shares
Li Auto, or Li Xiang is an electric vehicle manufacturer in Beijing.Li Auto specialises in hybrid vehicles, which can be powered with either electricity or gasoline as an attempt to wean consumers off of petrol powered vehicles.
Li Auto only floated on NASDAQ in July 2020, when it raised $1.1 billion (about £780 million) and was valued at around $10 billion (around £7 billion).
Get more detailed information and learn how to buy Li Auto shares
General Motors designs, manufactures, markets and distributes vehicles and vehicle parts. It’s the largest American automobile manufacturer and one of the largest in the world.
GM has committed to 30 new electric vehicles by 2025. It’s aiming to make its cars accessible to everyone with its Ultium Platform.
Get more detailed information and learn how to buy General Motors shares
BMW has started to produce electric cars, Plug-in Hybrids and Mild Hybrid vehicles. It’s got BMW 360° Electric, which offers charging technology, and the ChargeNow public charging network, giving access to more than 7,000 UK public charging points.
All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.
Many hope that electric cars become the norm in society, but there are some risks involved.
The main one is with the materials needed to produce the cars. Lithium-ion batteries power today’s electric vehicles, but lithium is both difficult to mine and a finite resource. A rise in the production of electric vehicles will see demand soaring.
Lithium’s environmental impact could put environmentally conscious customers at odds with manufacturers. Moreover, regulations on lithium emissions may indirectly have a negative impact on the electric vehicle sector.
56% of people we surveyed said they already invest in electric cars stocks or would consider investing in electric cars stocks.
| Response | |
|---|---|
| I would consider it | 47.79% |
| I wouldn't consider it | 23.8% |
| Not sure | 20.3% |
| I already invest in this | 8.12% |
You can own Faraday Future shares in just a few minutes by using an online share dealing platform. Our table lets you compare the UK’s leading share dealing accounts to find the right one for you.
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