Three electric car companies that can be an investment in the future

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Three electric car companies that can be an investment in the future

Renewable energies continue to make a dent in the usual ones from oil or gas thanks to their low cost. This has created a millionaire opportunity in the industry, but not only in companies that produce this type of energy but also in those that are directly or indirectly involved such as manufacturers of electric vehicles, according Travis Hoium, Howard Smith y Daniel Foelber en The Motley Fool.

Among the many companies in the sector, experts have selected these three: General Motors, Lucid Motors via Churcill Capital Corp. IV Y Nio.

Much of the energy we consume goes to vehicles, a change in the engine and development of these will also make a difference. GM is investing $ 27 billion in developing autonomous and electric vehicle products between 2020 and 2025 and expects to deliver 1 million electric vehicles globally by 2025. The company has already announced the Chevy Bolt, Cadillac LYRIQ, GMC Hummer EV, and an upcoming Silverado electric pickup, but that’s probably just the beginning. Forty percent of the models are expected to be electric by 2025 and management believes the entire fleet could be electric by 2035.

The big twist will be the way to power the cars with power alone or wind, being able to load networks operate in a sustainable way. Vehicle owners could even choose to place a solar panel in the same car.

The company’s Cruise subsidiary has committed to using “100% renewable energy” for its autonomous rideshare vehicle. Origin electric propulsion.

“I think Cruise could ultimately be the biggest asset in GM’s portfolio, and if it disrupts vehicle ownership and runs on renewable energy, it could make GM one of the main reasons why change is possible. from fossil fuels to renewable energies, ”says Hoium.

Lucid Motors, which plans to raise $ 4.6 billion when merged with a SPAC called Churchill Capital IV, has seen its shares rise more than 35% in the last month. The company plans to start delivering its highly anticipated luxury sedan, Lucid Air Dream Edition, in the second half of this year. Priced at $ 169,000 before federal tax credits, the Dream Edition doesn’t come cheap. But Lucid plans to phase in three additional versions of Air between now and 2023. The lower-priced version, Lucid Air Pure, would start with a tag price below $ 70,000, assuming a federal tax credit of $ 7,500.

And this company has some important advantages among its ranks: With a management team that is a cross between Silicon Valley, a legacy automaker, and former Tesla employees, Lucid is packed with top-notch talent. They have spent the last five years developing their own technology and plan to develop at their own plant in Arizona.

The company anticipates that Global luxury car market will grow from just under $ 500 billion in 2018 to over $ 730 billion by 2026, representing a compound annual growth rate (CAGR) of around 5%. But Lucid believes that it will be able to grow much faster than that. It expects to deliver 20,000 vehicles in 2022, earning $ 2.2 billion in revenue and $ 34 million in gross profit. After implementing more affordable versions of Lucid Air, he expects 2023 gross profit to exceed $ 1 billion and revenue to grow at a CAGR of more than 59% between 2022 and 2026.

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