Best Electric Cars in 2024 and Overview on the Companies’ Performance in 2024

Electric vehicles, which are often referred to as EVs, are automobiles that have an electric-powered engine rather than a gas-powered one. The great advantage of these vehicles is that they do not require diesel or petrol. Currently, the majority of the car manufacturers are focused on the electric vehicles sector, with many producing only electric automobiles since their inception. Many other companies are considering a shift from combustion engine vehicles to electric ones. Thus, the EV market may be of interest for those in search of CFD share trading opportunities. The governments in various countries are also incentivizing the use of electric vehicles, which can reflect in the market share of the Electric Vehicle companies.

There are many electric car stocks of companies that are dealing primarily with the manufacture of EVs. Some other electric car stocks are of companies that manufacture parts for the EVs, like autonomous vehicle systems and batteries. Companies like General Motors and Ford are not considered to be major players in electric car companies, even though they are developing some electric vehicle models. There are certain companies that are well established in producing and selling only electric vehicles. The stocks of these companies are considered to be of interest for CFD share trading. Check here for more information.

Electric car companies to watch out for in 2024

1. Tesla

When you think of electric car companies, the biggest name that crops up is that of Tesla. Tesla is widely considered to be the front-runner in electric car technology. The company was started in 2003, and in 2004, its biggest shareholder Elon Musk, became the head of the company. The year 2024 had been great for Tesla, as it delivered around 500,000 vehicles, with around 180,000 sold in the last quarter of the year. The majority of the cars sold included the Model Y and Model 3 crossover SUV. There is news that the company is also building new giant factories in Austin and Berlin.

The Tesla stocks (NASDAQ:TSLA) have been seeing an upward trend in the past, owing to its streak of quarterly net profits and robust sale of vehicles. Last year in December, the company was added to the S&P 500 after its stock split 5 for 1. Presently, Tesla is considered to be the highest valued car company in the world, as its stock prices increased by more than 750%. Share trading as

CFDs on Tesla share prices can be quite interesting as Tesla stocks have an EPS Rating of 72 and a Composite Rating of 97. Tesla, so far, has seen faster growth in 2024. Tesla is also going to launch its first pickup truck in 2024, the Cybertruck, which has created quite a buzz already.

2. NIO

NIO is an electric car company based in China, which is quickly emerging to be one of the top electric vehicles companies. The electric car company is competing with the Model Y cross SUV from Tesla. With its own models, it plans to concentrate on the SUV market segment of China. The company has also been successful in undercutting Tesla in the Chinese market because of its price. The NIO cars are eligible for subsidies from the Chinese government, unlike the electric vehicles made by Tesla.

The investor interest in NIO stock (NYSE:NIO) has grown recently after some other Chinese electric car makers came out with initial public offerings (IPOs). The stocks of NIO have been publicly traded since 2018. The year 2024 has proved to be quite successful for the company as it delivered more than 20,000 electric vehicles in the first quarter of 2024. This represents an increase of more than 40% when compared to last year’s sales. In the second quarter, NIO made a sale of 22,000 cars, and in the third quarter, it expects to deliver more than 23,500 vehicles. NIO stocks have an EPS rating of 48 and a composite rating of 34, which, although seem lackluster, may prove to be popular amongst CFD traders.

3. Other players

Besides these two big players in the electric vehicle segment, there are some other electric car companies with stocks that have great ratings, which may be of interest for those involved in CFD share trading. Although these may not be pure-play electric vehicle stocks, they are driving towards electrification.

• General Motors: General Motors had reportedly increased its investment in autonomous and electric vehicles in June 2024. Previously the company had targeted a hike of $27 billion, which has now been increased to $35 billion. The company aims to launch around 30 new electric vehicles by 2025. It has several EVs lined up, with the Hummer electric truck (by late 2024), Cadillac electric SUV (mid-2022), and Hummer electric truck (early 2024). The GM stock has an EPS Rating of 70 and an IBD Rating of 73.

• Ford: Ford has also hiked its expenditure on electric vehicles to around $30 billion. The company is hoping to make 40% of its global sales fully electric by 2030. Ford is reportedly planning to launch around 16 EVs by 2024. It is also launching the F0150 Lightning, which is touted to be a rival for Tesla’s Cybertruck. The EPS rating of Ford stock is 65, while the Composite Rating is 86.