Referenced Symbols

FUV -0.49% BEEM +1.77% BLNK +0.81% WKHS -1.41% SPX +0.17% DJIA +0.06% TSLA -2.46% SOLO -1.57%


Brokerage firm Maxim presented a quartet of electric vehicle players at a recent virtual conference.

The firms producing them included: Arcimoto (FUV), Beam (BEEM), Blink Charging (BLNK) and GreenPower Motor (GP).

Beam and Blink supply EV charging solutions. Arcimoto produces a tri-wheeled electric vehicle it calls a “fun utility vehicle,” which explains its FUV stock symbol. GreenPower produces electric buses and commercial vehicles.

All four sell, but GreenPower is the only vehicle with yearly sales surpassing $10 million. The four companies’ total market capitalization amounts to approximately $735 million. Tesla’s is more than $400 billion. Workhorse (WKHS) is a small-scale U.S.-based EV company possesses a market value of approximately $2.3 billion. Workhorse sales of its electronic commercial vans are just getting started.

Small size hasn’t stopped the stocks. The shares, like other EV-linked stocks, are on fire, up approximately 340% year to date, on average, better than returns of the S&P 500 and Dow Jones Industrial Average.

The majority of EV stocks are enjoying a prosperous year, thanks to Tesla (TSLA). Its stock has increased approximately 405% in 2020 as investors think that mass adoption of electric vehicles in the future is a sure thing.

The four companies seem to be in agreement with that assessment, projecting massive growth in days to come.

GreenPower CEO Fraser Atkinson predicted that electric bus deliveries around the world could increase to hit 80,000 by the year 2025. Electric commercial vehicle deliveries could range in the thousands. EV bus and truck deliveries will total 3,000 to 5,000 in 2020.

That creates an opening for GreenPower, who competes with EV bus makers such as China’s BYD (1211. Hong Kong) and conventional firms with EV offerings like NFI Group (NFI. Toronto).

Arcimoto is creating a separate niche. It specialises in dealing small, electrified personal transportation alternatives. CEO Mark Frohnmayer started the company in 2007. He thinks that smaller, lighter vehicles are the wave of the future. Delivery services and ride summoning are applications the company is investigating.

Arcimoto’s base FUV weighs 1,300 pounds and carries a 19.2 kilowatt-hour battery pack. A Tesla Model S weighs nearly 5,000 pounds and is accompanied by a 65 kilowatt-hours battery back in some configurations. The Model S seats five people.

Tri-wheeled vehicles are called motorcycles. ElectraMeccanica Vehicles (SOLO) is a three-wheeled vehicle maker sporting a market capitalization under $200 million. ElectraMeccanica stock has increased approximately 24% year to date.

Overall, people seem to be taking stock in EV vehicles.


Source: Marketwatch.Com