15 Best EV Stocks To Buy According to Billionaires

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5. SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Number of Billionaire Investors: 12

Number of Hedge Fund Holders: 30

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is an Israeli smart energy technology company that ranks among the best EV stocks to buy according to billionaires. While the company is primarily known for its intelligent inverter solutions that improve the efficiency of solar photovoltaic (PV) systems, it also develops and sells products for the EV market. The company’s e-Mobility segment offers a wide range of solutions for the EV market, including e-Drive systems, charging and DC converter solutions, vehicle management, and energy storage and distribution. Overall, SolarEdge Technologies, Inc. (NASDAQ:SEDG) serves various energy market segments through its PV, storage, EV charging, batteries, and grid services solutions.

As the EV market grows, the company is looking to position itself for future growth as it believes that distributed renewable energy will be crucial for maximizing the potential of electric mobility. In April 2024, SolarEdge Technologies, Inc. (NASDAQ:SEDG) completed the acquisition of Wevo Energy Ltd., a software startup specializing in optimizing and managing electric vehicle (EV) charging systems. Wevo’s software is designed for locations with large quantities of EV chargers, such as apartment buildings, workplace parking lots, and public charging locations. Wevo’s expertise in EV charging optimization will help SolarEdge Technologies, Inc. (NASDAQ:SEDG) integrate on-site solar generation, battery storage, and large-scale EV charging. This acquisition is part of the company’s strategy to grow its offerings for commercial and industrial customers.

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