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11 Best EV Penny Stocks to Buy

In this article, we will take a detailed look at the 11 Best EV Penny Stocks to Buy. You can skip our detailed industry analysis on the EV industry and click 5 Best EV Penny Stocks to Buy.

Remember the time when everyone thought EVs is the future and you should pour all you have in EV stocks to get rich quick? It didn’t take long for the EV euphoria to fade. With major EV stocks and ETFs like Tesla (down 31% in 2024) and iShares Self-Driving EV and Tech ETF (down 16% so far in 2024), one might ask – what on earth happened to EV stocks and should you really invest in EV stocks for the long term?

What’s Happening in the EV Industry?

Rising inflation and reluctance of consumers remain major hindrances in EV sales growth. Analysts believe EVs are still on path to overtake combustion engine cars in the long term, but the growth that made EVs all the buzz in the past has clearly slowed down. Data from Motor Intelligence shows that EV sales in the US increased by 47% in 2023, clearly surpassing conventional car sales. But car dealerships are having trouble selling EVs because a huge influx of new models and options as well as after-sales complaints which usually involve charging problems and battery issues.

A Wall Street Journal report quoted data from S&P Global Mobility which said that there are 56 EV models up for sale in 2024, with the firm expecting this number to reach 100 in 2025.

EV Companies Begin Belt-Tightening Measures

Amid slowing sales growth and headlines, EV companies had to slash production and cut costs. For example, Ford earlier this year decreased production of its F-150 Lightning electric pickup at its Dearborn, Michigan, factory. General Motors also postponed some production facilities for its Chevrolet Silverado EV. Tesla recently made headlines when it announced to cut 10% of its global workforce. The company talked about this development in its latest earnings call:

“We had negative free cash flow of $2.5 billion in the first quarter. The primary driver of this was an increase in inventory from a mismatch between builds and deliveries as discussed before, and our elevated spend on CapEx across various initiatives, including AI compute. We expect the inventory build to reverse in the second quarter and free cash flow to return to positive again. As we prepare the company for the next phase of growth, we had to make the hard but necessary decision to reduce our head count by over 10%. The savings generated are expected to be well in excess of $1 billion on an annual run rate basis. We are also getting hyper focused on CapEx efficiency and utilizing our installed capacity in a more efficient manner. The savings from these initiatives, including our cost reductions will help improve our overall profitability and ultimately enable us to increase the scale of our investments in AI.”

Read the entire earnings call transcript here.

Competition from Chinese EV Companies

Chinese EV companies remain the biggest problem for US EV companies like Tesla Inc (NASDAQ:TSLA), General Motors Co (NYSE:GM) and Ford Motor Co (NYSE:F) both in China and overseas. Not long ago US EV companies like Tesla and Volkswagen were seeing huge growth in mainland China. Local companies didn’t take long to catch up. Electric vehicles made by Chinese companies now account for about half of the total EVs sold around the world.  In the fourth quarter of 2023, Chinese EV company BYD surpassed Tesla to become the top EV company in the country in terms of sales. Tesla sold 484,507 cars in the quarter, while BYD sold 526,409 fully electric vehicles. China has surpassed US, Germany, South Korea and even Japan when it comes to car exports.

Profitable Growth Becoming Elusive

One of the biggest factors weighing down EV stocks is burgeoning costs. A KPMG report on the EV industry talked about a survey which shows that EV industry executives are growing less confident about their ability to achieve profitable growth over the next five years.  Only about 34% of the surveyed executives said that they were “extremely confident” that they would achieve profitable growth in the next five years, compared to 41% in the previous year.

The KPMG survey shows that while executives are still hoping for growth in the EV industry, their estimates have become more realistic. For example, the report showed that about three years ago, when EV executives were asked about what market share they think EVs would take as a percentage of total car sales, the answers would be anywhere between 20% to as much as 80%. But now these estimates have fallen off the cliff amid new realities.

Bocman1973 / Shutterstock.com

Why Should You Still Invest in EV Stocks

However, not all is doomed for the industry. The survey shows executives are still expecting growth in the EV industry.

“The mean estimates for penetration rose in the latest survey. In Western Europe, for example, respondents last year estimated that battery-electric vehicles would account for 24 percent of sales in 2030; this year the consensus estimate was 30 percent. In the US, the estimate went from 29 percent to 33 percent and in China the estimate jumped from 24 percent to 36 percent.”

Globally, electric vehicle sales are still expected to gain in the long term. A BloombergNEF report last year said EV sales were expected to surge to 27 million in 2026. The report said that the Inflation Reduction Act means EV would account for about 28% of passenger vehicle sales by 2026, up from 7.6% in 2022. The report said that combustion engine car sales peaked in 2017  and “are now in long-term decline.”

In this backdrop, we decided to see which EV penny stocks hedge funds are investing in. For that we scanned Insider Monkey’s database of 933 hedge funds and picked 11 EV penny stocks with the highest number of hedge fund investors.

11. Wallbox NV (NYSE:WBX)

Number of Hedge Fund Investors: 8

EV charging products and solutions company Wallbox NV (NYSE:WBX) ranks 11th in our list of the best EV penny stocks to buy now according to hedge funds. Last month, Wallbox NV (NYSE:WBX) announced that it secured proposed awards of $25.6 million from the Washington Department of Commerce’s Electric Vehicle Charging Program. These funds will be used to deploy Wallbox NV’s (NYSE:WBX) latest AC Level 2 charger, the Pulsar Pro, across 148 multifamily housing properties throughout the state of Washington.

Out of the 933 funds tracked by Insider Monkey, 8 hedge had stakes in Wallbox NV (NYSE:WBX).

Unlike Tesla Inc (NASDAQ:TSLA), General Motors Co (NYSE:GM) and Ford Motor Co (NYSE:F), which are highly popular car companies, WBX’s hedge fund sentiment is low.

10. Zapp Electric Vehicles Group Ord Shs (NASDAQ:ZAPP)

Number of Hedge Fund Investors: 9

British electric motorcycle company Zapp Electric Vehicles Group Ord Shs (NASDAQ:ZAPP) is one of the best EV penny stocks to invest in according to hedge funds. Earlier this month Zapp Electric Vehicles Group Ord Shs (NASDAQ:ZAPP) said it will implement a consolidation of its authorized share capital at a ratio of 1-for-20. The stock jumped about 3% after this news.

Insider Monkey’s database of 933 hedge funds shows that 9 funds had stakes in Zapp Electric Vehicles Group Ord Shs (NASDAQ:ZAPP) as of the end of 2023.

9. Gogoro Inc (NASDAQ:GGR)

Number of Hedge Fund Investors: 11

Taiwan-based battery-swapping refueling platform company Gogoro Inc (NASDAQ:GGR) is one of the top EV penny stocks to invest in according to smart money investors.

Of the 933 hedge funds tracked by Insider Monkey, 11 hedge funds reported owning stakes in Gogoro Inc (NASDAQ:GGR).

8. Polestar Automotive Holding American Depositary Shares Class C-1 (NASDAQ:PSNYW)

Number of Hedge Fund Investors: 11

Polestar Automotive Holding American Depositary Shares Class C-1 (NASDAQ:PSNYW) is a Sweden-based EV company, owned by Volvo Cars. Polestar Automotive Holding American Depositary Shares Class C-1’s (NASDAQ:PSNYW) CEO recently said that Polestar Automotive Holding American Depositary Shares Class C-1 (NASDAQ:PSNYW) plans to sell more EVs outside China amid geopolitical tensions and risks of more tariffs on Chinese imports.

Polestar Automotive Holding American Depositary Shares Class C-1 (NASDAQ:PSNYW) delivered 54,600 cars in 2024 and is targeting 155,000 to 165,000 deliveries in 2025.

7. Evgo Inc (NASDAQ:EVGO)

Number of Hedge Fund Investors: 12

EV charging network company Evgo Inc (NASDAQ:EVGO) ranks seventh in our list of the best EV penny stocks to invest in according to smart money investors.

Last month, RBC Capital  upgraded Evgo Inc (NASDAQ:EVGO) stock to Outperform from Sector Perform, saying, saying the current high interest rate environment and barriers to entry in the industry is Evgo Inc’s (NASDAQ:EVGO) competitive moat.

6. Nikola Corp (NASDAQ:NKLA)

Number of Hedge Fund Investors: 12

Battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV) company Nikola Corp (NASDAQ:NKLA) ranks sixth in our list of the best EV penny stocks to buy according to hedge funds. Insider Monkey’s proprietary database of 933 hedge funds shows that 12 hedge funds had stakes in Nikola Corp (NASDAQ:NKLA) as of the end of 2023.

The biggest stake in Nikola Corp (NASDAQ:NKLA) is owned by Anand Parekh’s Alyeska Investment Group valued at $28.3 million. Unlike Tesla Inc (NASDAQ:TSLA), General Motors Co (NYSE:GM) and Ford Motor Co (NYSE:F), which are highly famous among smart money investors, NKLA’s hedge fund sentiment is low.

Click to continue reading and see 5 Best EV Penny Stocks to Buy.

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Disclosure. None. 11 Best EV Penny Stocks to Buy was initially published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 100+% Return within 12 to 24 months.

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For a ridiculously low price of just $9.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!


No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!