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Teslas stock price has increased by more than 1,600% over the past five years, as of mid-December.
Thats way ahead of the S&P 500s nearly 90% return during the same period.
However, its a good idea to diversify your portfolio and look at new opportunities, so to speak.
you might diversify by picking stocks in the EV sector, battery technology and charging infrastructure.
For those who already own Tesla, here aresome other stocks to consider.
Its a car manufacturer that specializes in electric vehicles (EVs).
Nio reported total revenues of 18.7 billion yuan during the third quarter of 2024.
That was up 7% from the previous quarter.
This innovation helps solve range anxiety and actually helps users do their business more easily.
ChargePoints services have gotten more essential as more people start to switch to EVs.
In the third quarter of its fiscal 2025, ChargePoint reported revenue of $100 million.
Analysts predict that the stock could rise by about 122%.
Investing in ChargePoint represents a strategic bet on this essential charging infrastructure.
The company announced it has committed $130 billion to electrification over the next five years, perFortune.
Volkswagen has shown its serious EV technology commitment, with its ID.
series piling in positive reviews.
In September, Li Auto delivered a record 53,709 vehicles, up an impressive 49% year over year.
Through the end of September, itd sold nearly 341,812 vehicles this year.
Li Auto has grown its market presence despite challenges, such as growing competition and price pressure.
In particular, the Li L6, one of its new models, has been popular with young consumers.
QuantumScape Corp. (QS)
QuantumScape is a company that develops solid-state batteries for EVs.
Its batteries promise better lifespan and faster charging than lithium-ion batteries.
And the company has worked with major automakers, like Volkswagen, to validate its innovative technology.
While the stock has been volatile, its groundbreaking potential keeps it a favorite among investors.
Investing in QuantumScape could position you in an emerging EV landscape as demand for EVs increases.
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