12 Cheap EV Stocks to Buy According to Hedge Funds

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3. Ford Motor Company (NYSE:F)

Forward P/E: 7.61

Number of Hedge Fund Holders: 45

Ford Motor Company (NYSE:F) is a global automotive manufacturer that is known for its Ford and Lincoln brands. ranks among the best cheap EV stocks to buy according to hedge funds. The company is heavily investing in EVs through its Ford+ Plan as it aims to lead the EV revolution. Ford Motor Company’s (NYSE:F) Model e division focuses on developing and producing EVs. The company provides a variety of vehicles including fully electric, hybrid, and traditional combustion engine options. Ford Motor Company (NYSE:F) ranks among the best cheap EV stocks to buy according to hedge funds.

In 2024, the company achieved record electrified vehicle sales of 285,291 units, an increase of 38% compared to the previous year. Electrified vehicles include hybrids, plug-in hybrids, and all-electric models. Ford Motor Company’s (NYSE:F) electric vehicle sales also set a new record in the fourth quarter of 2024 with more than 30,000 EVs sold. All of the company’s electric models, including the Mustang Mach-E, the F-150 Lightning, and the E-Transit, hit record sales in 2024. The company is focused on the development of its next-generation vehicles, which is crucial for its future success. To position itself for future growth in the EV market, Ford Motor Company’s (NYSE:F) Model e division continued to invest in future products in 2024. For the year, Model e reported a net $100 million increase in spending to support new battery plants and the next generation of EVs. This investment is part of Ford Motor Company’s (NYSE:F) strategic focus on developing affordable and high-volume EVs to boost growth.

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