With the world increasingly seeing the huge need to switch to cleaner energy, several economies now see electric cars as a crucial part of their transition plans. And the speed of adoption of these EVs is faster thank you belief, at least in some places in the world. Take China, as one example. EVs accounted for around 12% of total vehicle sales inside the world’s top EV market for the first part of 2021.

In fact, wherever you look, the largest automakers are lining up investments that are worth billions to ensure they don’t lose the race. You may not want to miss it, either, so if you want to bet on the electric vehicles surge, here are two stocks you should buy now.

Ford

Ford is in a much better position now than one year ago thanks to the leadership change. And one place where Ford is speeding forward under CEO Jim Farley is with electric vehicles. And the evidence lies in Ford’s newest monthly sales.

Ford’s overall retail sales went up by 34% sequentially in the month of Sept., and it went into October with an inventory of 236,000 cars, higher than 21,000 from one month before. That is a strong sign that Ford could have found a workaround to deal with their ongoing global semiconductor chip shortage that has hit the automotive industry the hardest. While that is impressive, the largest highlight from its sales numbers – from EVs — is even more important.

Ford sold a record setting 9,150 EVs in Sept., up 91.6% y/y. Demand for its new F-150 Lightning pickups is strong: Reservations went over 150,000 in Sept., up from 100,000 from the second quarter.

Ford’s stock might have had a torrid run this year, but this might be only the beginning if Ford’s F-150 Lightning can duplicate even half of the successes the auto maker normally has with its trucks. With Ford’s Q3 numbers also coming out sometimes now, this is one EV stock that could be a long-term portfolio winner.

Bio

Nio is attempting to give Tesla a challenge in China, and that is no easy feat for a company that is already the “Tesla of China.”

Nio is growing at a fast speed, with deliveries reaching records every month. In Sept., for example, Nio’s global deliveries went higher by 125.7% y/y to 10,628 vehicles, and the luxury car maker also delivered double in the quarter reaching into September.

But Nio offers a lot more than cars, and this competitive edge appears to be working in Nio’s favor. The best example is its battery-as-a-service subscription. Instead of purchasing a battery in a Nio car, customers can save over $10,000 on the car by buying cars without a battery and subscribing to the company’s battery plan instead that allows them to charge and swap batteries at its battery swap areas.

With Nio also now entering the European market through Norway, preparing to start their deliveries of its new luxury sedan ET7 from the start of 2022, and even planning EVs for the mass-market, there could be no stopping this electric vehicle stock in the upcoming years.

Author: Steven Sinclaire

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