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Elon Musk: Top 2 EV Stocks to Buy in 2021

Stock MarketsJan 25, 2021 12:15
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Elon Musk: Top 2 EV Stocks to Buy in 2021

In the last few years, the demand for electric cars has skyrocketed. Elon Musk-led Tesla’s success story is a great example of how electric vehicles (EV) to help make the environment much cleaner and benefit investors from the ongoing EV revolution.

That’s why there couldn’t be a better time to invest in companies that are betting high on the growing EV market.

Elon Musk’s environment-friendly path Musk is known for his radical views on ways to fix the world’s environmental issues. He recently became the world’s richest person. Interestingly, most of his ventures, including Tesla, SpaceX, and The Boring Company, are focused on utilizing sustainable energy and reducing the carbon footprints.

While he wants to see his businesses grow fast, he also encourages other companies to help reduce carbon footprints. In 2014, he made Tesla’s patents freely available for other companies. This could be his way to encourage others to help build EV infrastructure faster. But overall, he always appreciates other companies making efforts for emission-free transportation.

Following his approach right now and investing in companies that help the EVs cheaper and their manufacturing process smoother is apparently a great way to make money.

The case for BlackBerry BlackBerry (TSX:BB)(NYSE:BB) is a great example of one such company. Its stock has more than doubled in January so far. Most of these gains came after it settled its disputes with the American tech giant Facebook (NASDAQ:FB). BB in 2018 sued Facebook for infringing its intellectual property rights with its messaging services. These messaging services included Facebook’s subsidiaries WhatsApp and Instagram.

BlackBerry stock has been one of my most favorite ones for the last few months. I’ve favored buying it due to its rising stakes in the EV market. Large automakers already use the company’s QNX platform — a Unix-like OS — in their gasoline cars and electric cars. BlackBerry in December joined hands with Amazon (NASDAQ:AMZN) Web Services to build an intelligent data platform that would allow automakers to access their vehicles’ sensor data. Such technology plays a critical role in electric and autonomous cars.

1 EV Battery stock to buy in 2021 Lithium Americas (TSX:LAC)(NYSE:LAC) is a Vancouver-based mining company. The company is mainly focused on two world-class lithium projects. Its first Cauchari-Olaroz project is based in Argentina, and the Thacker Pass project — the second one — is located in Nevada, the United States.

Lithium Americas’ management is making efforts to advance these two projects. The company targets to make its Nevada based project one of the most advanced lithium projects in the world in the next decade. It completed its process testing facility in 2019 and has already commenced engineering the construction design. Lithium Americas expects to get all major permits this year. These expected permits could make its stock skyrocket.

As lithium-ion batteries’ demand continues to grow with increasing EV production globally, Lithium America could be a great stock growth stock to bet on right now. Last year, its stock nearly tripled, and it’s trading with an 85% month-to-date rise in January.

Bottom line If you missed investing in Tesla stock at the right time, then you still have an opportunity to follow Musk’s path by investing in the ongoing EV revolution. That’s why I find growth companies like Lithium Americas and BlackBerry to be of great value. Such stocks could yield big returns on your investments in the long term.

The post Elon Musk: Top 2 EV Stocks to Buy in 2021 appeared first on The Motley Fool Canada.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. David Gardner owns shares of Amazon, Facebook, and Tesla. Tom Gardner owns shares of Facebook and Tesla. The Motley Fool owns shares of and recommends Amazon, Facebook, and Tesla. The Motley Fool recommends BlackBerry and BlackBerry and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

The Motley Fool’s purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool Canada’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. Motley Fool Canada 2021

This Article Was First Published on The Motley Fool

Elon Musk: Top 2 EV Stocks to Buy in 2021

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