11 Small Cap EV Stocks to Invest In

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2. BorgWarner Inc. (NYSE:BWA)

Market Capitalization: $6.88 Billion

Number of Hedge Fund Holders: 27

BorgWarner Inc. (NYSE:BWA) is a key player in the automotive and e-mobility sectors, providing essential components for internal combustion, hybrid, and electric vehicles. The company is strategically expanding its presence in the electric vehicle (EV) market with innovative technologies. BorgWarner Inc. (NYSE:BWA) has secured three significant contracts for its High Voltage Coolant Heater (HVCH) technology in major Asian markets.

In China, a top automaker selected BorgWarner’s (NYSE:BWA) HVCH for a fully electric SUV, with production starting in Q2 2025. This partnership highlights the company’s commitment to tapping into China’s booming EV industry. In Korea, BorgWarner’s (NYSE:BWA) HVCH will be integrated into an electric pickup truck, with production expected to begin in March 2025. This technology will enhance cabin comfort and energy efficiency, crucial for improving the overall driving experience. Similarly, in Japan, BorgWarner’s (NYSE:BWA) HVCH will be used in a battery-electric vehicle starting production in 2028, marking the company’s entry into the Japanese market.

BorgWarner Inc. (NYSE:BWA) is also focused on innovation, recently showcasing advancements at the IAA Transportation 2024 event in September. These innovations include Lithium Iron Phosphate (LFP) battery packs designed for commercial vehicles and a new DC fast-charging station that supports rapid charging needs and commercial EV fleet applications.

These strategic wins and innovations are expected to support the company’s long-term profitable growth. This positions BorgWarner Inc. (NYSE:BWA) as a strong contender in the EV market. BWA is one of the best EV stocks to buy.

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