12 Cheap EV Stocks to Buy According to Hedge Funds

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4. BorgWarner Inc. (NYSE:BWA)

Forward P/E: 7.11

Number of Hedge Fund Holders: 43

BorgWarner Inc. (NYSE:BWA) is a global company that specializes in designing and manufacturing automotive and e-mobility systems. The company offers important components for internal combustion, hybrid, and electric vehicles. BorgWarner Inc. (NYSE:BWA) is looking to expand its presence in the growing EV market through new and innovative technologies like its High Voltage Coolant Heater (HVCH). BWA ranks among cheap EV stocks to invest in.

For its HVCH technology, BorgWarner Inc. (NYSE:BWA) has secured contracts in major Asian markets, including China, Korea, and Japan. In China, a leading automaker will use the HVCH in a fully electric SUV set for production in Q2 2025. In Korea, the technology will be used in an electric pickup truck. In Japan, BorgWarner’s (NYSE:BWA) HVCH will be used in a battery-electric vehicle expected to begin production in 2028. Additionally, in February 2025, BorgWarner Inc. (NYSE:BWA) further strengthened its new energy vehicle motor business by securing 4 new projects with 3 major Chinese brands. Through new business awards, the company continues to support its future long-term profitable growth.

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