Growth investors can look to invest in electric vehicle (EV) stocks such as Tesla (NASDAQ:TSLA) and Nikola (NKLA). While Tesla is a market leader, Nikola is a pre-revenue company. Both companies are poised to outpace the broader markets but may also lose momentum in case they fail to meet expectations.The electric vehicle (EV) market is poised to gain pace in the upcoming decade, as governments all around the world continue to support the transition towards clean energy solutions. According to a report from Fortune Business Insights, the global EV is forecast to rise from $246 billion in 2020 to $1.32 trillion in 2028, indicating an annual growth rate of 24.3% in this period.
This rapid growth makes EV companies such as Tesla (TSLA) and Nikola (NKLA) enticing long-term bets. While Tesla is a market leader in this segment, Nikola is yet to post any meaningful sales.
Today I’ll analyze TSLA and NKLA to determine which EV stock is currently a better investment.