5 Best EV Stocks to Buy Now

3. Li Auto Inc. (NASDAQ:LI)

Number of Hedge Fund Holders: 28

Li Auto Inc. (NASDAQ:LI) is a Beijing, China-based EV company. The company is at the third position on our list of the 12 best EV stocks to buy now.

Li Auto Inc. (NASDAQ:LI) introduced its SUV offering Li L7 and Li L8 on September 30. The Li L8 is a six-seater all-electric SUV that will compete against the leading all-electric SUV of European auto companies operating in the Chinese market. Paul Gong at UBS believes that the EV adoption rate in China will rise to 30% in the months ahead, which could result in the annual deliveries of EVs surpassing the six million level by the end of 2022, doubling from last year’s level. Li Auto Inc. (NASDAQ:LI) delivered 11,531 vehicles in September 2022. The Swiss financial services firm UBS thinks that 60% of all automobiles in China will be electric by the end of this decade.

Tiger Global Management LLC was the leading hedge fund investor in Li Auto Inc. (NASDAQ:LI) during Q2 2022.