11 Small Cap EV Stocks to Invest In

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8. Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Market Capitalization: $1.98 Billion

Number of Hedge Fund Holders: 11

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is a Swedish electric vehicle manufacturer that offers a range of electric cars in 27 markets across North America, Europe, and Asia Pacific. The company plans to expand into more markets in 2025, which will enhance its global presence. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) offers three electric vehicle models: the Polestar 2, a performance fastback; the Polestar 3, an SUV; and the Polestar 4, a coupé SUV. The company plans to expand its lineup to five models by 2026, introducing the Polestar 5, a four-door GT, and the Polestar 6, an electric roadster. This ambitious line-up positions Polestar as a competitive player in the growing EV market.

On October 30, 2024, the company announced that its customers will now have access to 17,800 Tesla Superchargers in North America. This move significantly enhances charging options for its customers and complements its existing access to over 850,000 charging points in Europe. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is focused on improving the overall customer experience and making EV ownership more convenient.

On December 5, 2024, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) began US production of the Long Range Single Motor variant of its flagship SUV, the Polestar 3, in South Carolina. By producing this model locally, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) can better serve North American customers and increase market penetration.

In the third quarter of 2024, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) delivered approximately 11,900 cars, bringing total deliveries for the year to 32,300. Polestar Automotive Holding’s (NASDAQ:PSNY) strategic plans for expansion and its position in the electric vehicle market make it an attractive option for investors looking for growth in the EV sector.

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