Detroit is seeing some stiff competition these days – and not just from Japan and Korea. The economy is shifting toward green tech, and new automotive companies are popping up to take advantage of the newly opened electric vehicle (EV) playing field. Just as a century and more ago there were scores of auto makers competing to build the best combustion engine cars, and scores of designs in the game, ranging from external combustion steam cars to rotary engine motorcycles, so today the EV field presents a wide open front for new companies to innovate and find the best designs for mass market electrically powered cars.
The trick now, for investors, is to find the companies that look like winners as the EV sector expands, grows, and matures. It may be too early to tell which EV makers are going to hang in for the long haul and dominate the market a century from now – or even if electric cars will still be on the road in the distant future.
But the data tools on the TipRanks platform have helped us pick out three companies that look like winners in the near- to mid-term, over the next 12 months. These are companies with low-cost shares to entice investors, and – according to the Wall Street stock experts – the potential to double or more in that time. Here are the details.