In this article, we discuss the 5 auto companies that sold the most EVs in 2021. If you want to read our detailed analysis of these stocks, go directly to the 10 Auto Companies that Sold the Most EVs in 2021.
5. Stellantis N.V. (NYSE:STLA)
Number of Hedge Fund Holders: 24
Total Number of EVs Sold in 2021: 216,562
Stellantis N.V. (NYSE:STLA) is a Netherlands-based automobile manufacturer. The company has come under the spotlight in recent weeks after announcing that it would be partnering with tech giant Amazon for automobile software. Already one of the largest EV-sellers in the world, the partnership with one of the biggest tech firms, which includes vehicle development, building connected in-vehicle experiences, and training automotive software engineers, will advance a plan of Stellantis N.V. (NYSE:STLA) to shift focus away from just cars to mobility tech.
Amazon will also be a customer of the new Stellantis N.V. (NYSE:STLA) vehicles launching in 2023.
At the end of the third quarter of 2021, 24 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in Stellantis N.V. (NYSE:STLA), compared to 28 in the previous quarter worth $844 million.
4. BYD Company Limited (OTC:BYDDF)
Number of Hedge Fund Holders: 2
Total Number of EVs Sold in 2021: 323,143
BYD Company Limited (OTC:BYDDF) is a firm that makes and sells automobiles. It operates from China. Warren Buffett, one of the most legendary investors on Wall Street, has backed the firm as an EV play over the past few years. In January, BYD Company Limited (OTC:BYDDF) had announced that it had delivered over 603,783 new energy vehicles in 2021, up more than 218% year-on year. The sale of fuel-based vehicles for December declined 81% year-on-year.
BYD Company Limited (OTC:BYDDF) has started attracting the interest of hedge funds in the US as it becomes one of the top EV firms in the world. At the end of the third quarter of 2021, 2 hedge funds in the database of Insider Monkey held stakes worth $22 million in BYD Company Limited (OTC:BYDDF).
3. Volkswagen AG (OTC:VWAGY)
Number of Hedge Fund Holders: N/A
Total Number of EVs Sold in 2021: 451,131
Volkswagen AG (OTC:VWAGY) is a German car manufacturer. In early December, Deutsche Bank analyst Tim Rokossa maintained a Buy rating on the stock with a price target of EUR 210. Volkswagen AG (OTC:VWAGY) recently announced that the Lamborghini brand, one of the most iconic car brands in the world, would release four new models this year that would be the last fuel-only models. Starting 2023, these cars would go hybrid and then fully electric.
On December 9, Volkswagen AG (OTC:VWAGY) had announced that a new $395 million investment plan by the firm to develop new tech and energy efficient cars would also include a push to expand into new markets with electric trucks and buses. Roberto Cortes, the head of the commercial vehicle segment of Volkswagen AG (OTC:VWAGY), expects bus sales to pick up in 2022 after a slow 2021.
2. SAIC Motor Corporation Limited (SSE:600104.SS)
Number of Hedge Fund Holders: N/A
Total Number of EVs Sold in 2021: 609,730
SAIC Motor Corporation Limited (SSE:600104.SS) is a Chinese electric vehicle manufacturer that produces some of the best budget EVs in the world. One of the best-selling models of the firm is the Hong Guang Mini, a four-seat EV that has a top speed of just 62mph and costs less than $4,500. The company is state-owned and has been registering almost double the amount of EV sales than Tesla in China. It is also expanding into developing markets where the sale of budget EVs is on the rise.
SAIC Motor Corporation Limited (SSE:600104.SS) trades on Chinese exchanges but represents an exciting entry point into the EV sector. The sales of SAIC Motor Corporation Limited (SSE:600104.SS) EVs could soon tip the sales of Tesla Model 3, the best-selling EV in the world, although their reach outside China is still somewhat limited.
1. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 60
Total Number of EVs Sold in 2021: 936,172
Tesla, Inc. (NASDAQ:TSLA) is the California-based EV maker led by Elon Musk. It is the largest EV maker in the world and briefly crossed $1 trillion in market capitalization last year before a broad correction in the value of growth stocks hit the firm as well. Morgan Stanley analyst Adam Jonas recently maintained an Overweight rating on the stock with a price target of $1,300, noting that the sales of EVs by the firm could soon top the sales of cars by General Motors and Ford combined by 2027.
Elite hedge funds back Tesla, Inc. (NASDAQ:TSLA) as it goes from strength to strength. At the end of the third quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $10 billion in Tesla, Inc. (NASDAQ:TSLA), the same as in the previous quarter worth $9 billion.
Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q1 2021 investor letter:
“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”
You can also take a peek at 10 Companies that Benefit From Crypto Mining and 10 New Penny Stocks Redditors are Buying.
