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Tesla vs. Lordstown Motors: Which Electric Vehicle Stock is a Better Buy?

imageStock Markets1 hour ago (Apr 14, 2021 02:01PM ET)

(C) Reuters. Tesla vs. Lordstown Motors: Which Electric Vehicle Stock is a Better Buy?

Companies in the electric vehicle (EV) space delivered big gains to investors in 2020. But for 2021, should one bet on an EV market leader Tesla (NASDAQ:TSLA), which has concrete plans for growth and anticipates building 50% more vehicles this year than last, or gain exposure to emerging player Lordstown Motors (RIDE), which is still at a pre-revenue stage but is trading at an attractive multiple and for which analyst forecast massive growth in 2022? Let’s discuss.Companies in the electric vehicle (EV) space delivered big gains to investors in 2020. And investors and analysts continue to be bullish on this sector for good reason. According to a report from EV-volumes.com, the number of EVs sold in 2020 increased by 43% to 3.34 million units, up from 2.26 million units in 2019.

EVs are now expected to account for 10% of global passenger vehicle sales by 2025, a figure that could grow to 58% by 2040.

Given the rapidly expanding market, let’s compare one market leader in the EV space–Tesla (TSLA)–with an emerging player–Lordstown Motors (RIDE)–and analyze which stock is a better buy right now.

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Tesla vs. Lordstown Motors: Which Electric Vehicle Stock is a Better Buy?

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