When most of us think of the electric vehicle (EV) market, a few names jump to mind.
Tesla Inc. (Nasdaq: TSLA), Nio Inc. (NYSE: NIO) and Fisker Inc. (NYSE: FSR) are typically at the top of that list, with Nikola Corp. (Nasdaq: NKLA) and even Workhorse Group Inc. (Nasdaq: WKHS) making an appearance or two.
Global sales of EVs topped 3.1 million vehicles in 2020, a 39% bump from 2019…
And while we all know EVs are the future of automobiles, they are still only a tiny portion — less than 1% — of cars on the road today.
As innovative as a lot of these companies are, it’s a growing if still niche industry.
To this point, the big boys in Detroit, Tokyo, Seoul and Munich have largely ignored the trend in favor of bigger, gas-guzzling pickups and SUVs…
But that is starting to change in a big way as major automakers are skipping hybrids altogether in favor of new fully electric product lines.
Ford Motor Co. (NYSE: F) first threw its hat into the EV ring with the reasonably successful 2021 Mustang Mach-E…
But it’s making a bold move by unveiling its full-sized EV pickup, the F-150 Lightning.
While the Lightning isn’t the first EV to take aim at the American pickup market, it could have the biggest impact.
Pickup trucks make up about 20% of new vehicle sales in the U.S., topping 3.1 million units for 2019.
The F-Series truck is the top selling vehicle in the U.S. — a title it’s held since 1981.
The truck line took a dip during the pandemic, but still sold over 787,000 units in 2020 — 32.5% more than its GM and Dodge competitors.
So when the largest American automaker announces it’s going to offer a full-EV option of the most popular vehicle in the country, markets take notice.
And it never hurts to get a plug from the president…
President Biden test drives F-150 Lightning: "This sucker's quick!" pic.twitter.com/BoVG04Ro9M— CSPAN (@cspan) May 18, 2021
That helped Ford catch a nice 10% rally last week, moving near 52-week highs on massive volume.
But while this is great news for Detroit’s blue brand, it comes at a cost to other EV stocks for 2021.
Check out the video below and let’s talk about the winning and losing EV stocks in 2021. Leave a comment and let me know if I should cancel my Cybertruck reservation, or if you think the Lightning is all hype.
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P.S. I just caught wind of Chuck Hughes announcing the biggest project of his entire career: the Triple Threat challenge…
A chance for everyday traders to completely transform their lives over this summer…
He’s starting traders off with a special $50,000 challenge account… and equipping them with the tools necessary to bag the returns of a lifetime… to become a championship level trader on their own!