The remarkable growth in EV stocks seen during 2021 provided investors with an exciting view of the future. Indeed, the Biden administration deserves credit for helping to promote electrification and creating a strong foundation of trust in the space that helped it gain momentum. However, not all electric vehicle companies represent must-buy EV stocks. There was arguably a bubble in this space, with rampant inflation rates and supply chain hiccups the key to unraveling sky-high valuations in this sector.

That said, the future of the electrification trend is as bright as ever. There is plenty of potential for investors looking to put fresh capital to work in the coming years. With supportive policies from governments across the globe, EVs may yet again become one of the hottest investments. Companies are working hard to find solutions for the supply chain bottlenecks, and many have started distributing vehicles at a healthy pace again.

Whit that said, here are seven must-buy EV stocks investors should be focused on now.

TSLA Tesla $113.06
ALB Albermarle $221.64
NIO Nio $10.37
F Ford $12.58
CHPT ChargePoint $9.01
BYDDF BYD Company $26.30
GM General Motors $35.91

Tesla (TSLA)

Tesla Motors (TSLA) now an SP500 company with a busy Pond Springs location in northwest Austin, TX

Source: Roschetzky Photography / Shutterstock.com

It has been a wild few years for Tesla (NASDAQ:TSLA), but the company still delivers vehicles at an impressive rate. The concern, though, has always been its valuation when the stock was trading near the $1,000 mark. However, TSLA stock now trades at a more attractive price tag than ever before, as a result of this macroeconomic uncertainty.

One of the exciting things to come from Tesla founder and CEO Elon Musk recently has been his newest project Twitter. There is no doubt that Elon Musk’s presence has been telling in Tesla’s success, and seeking out new opportunities in technology only helps bolster that confidence. Tesla being the face of the EV revolution, it’s safe to say that they remain one of the best stocks to own in the EV realm.

Albemarle (ALB)

Albemarle (ALB) logo on a mobile phone screen

Source: IgorGolovniov/Shutterstock.com

Investing in the electric vehicle sector can be risky, as there is always a gamble when trying to predict the industry’s winners and losers. Thank goodness for Albemarle (NYSE:ALB). This company provides an attractive alternative investment that guarantees incredible results. Albermarle has established itself as a leading lithium player. This, combined with its current dip in stock value and growth potential, makes ALB one of the most attractive stocks currently available on the market.

Albemarle recently reported record revenue and earnings for the fourth straight quarter, crossing the $2 billion mark for the first time. Moreover, Albemarle also pays a decent dividend, making its stock increasingly attractive for investors.

Nio (NIO)

NIO logo, sign atop of North American headquarters and global software development center in Silicon Valley. NIO is Chinese electric autonomous vehicles manufacturer

Source: Michael Vi / Shutterstock.com

Despite its recent struggles, there appears to be a light at the end of the tunnel for Chinese EV giant Nio (NYSE:NIO). The company’s share price plummeted to its lowest level in 2022, yet analysts remain optimistic about the firm’s prospects. Nio is likely to enjoy an impressive comeback in 2023 after a difficult 2022. The China-based electric vehicle company has been enjoying an impressive surge in sales, and the government’s focus on economic recovery is likely to provide further support for Nio’s efforts.

Nio recorded monthly annual deliveries of 15,185 vehicles in December, up 50.8% for the year. The firm delivered 122,486 vehicles for the year, increasing by 34% from the prior year. Hence, with its forward-looking strategies and cutting-edge products, Nio is well-placed to take full advantage of this promising new market trend and create even more success over the year ahead.

Ford (F)

Ford logo badge on grill of car

Source: JuliusKielaitis / Shutterstock.com

Ford (NYSE:F) is paving the way to go green with its efforts in expanding electric vehicle production. With an impressive planned investment of up to $20 billion, the leading automaker is creating game-changing vehicles that will soon be available for consumers. Ford has gone a step further by creating a subsidiary for EVs, as well as dedicated teams for manufacturing and assembly. This ensures the company’s electrification program runs as smoothly as possible. All signs point to this being the dawn of an exciting new era in automotive transport, with Ford providing its signature stylish rides from the outset.

For those looking to set their portfolio up for long-term success, buying Ford stock now is an intriguing proposition. The company’s share price has dropped by over 40% compared to last year, meaning investors get great value with a low entry price. An added bonus is the generous dividend yield of 4.4%. Throw in Ford’s foray into the growing electric vehicle sector, and you’ve got a sound and profitable investment on your hands. All signs point towards now being an ideal time to join forces with Ford Motors and reap long-term gains far into the future.

ChargePoint (CHPT)

EV stocks: A close-up shot of a ChargePoint charging station.

Source: YuniqueB / Shutterstock.com

ChargePoint (NYSE:CHPT) is primed to lead the electric mobility revolution as investments in EV charging infrastructure continue to grow rapidly. The company’s total investment in the United States and Europe is expected to reach $60 billion by 2030 and $192 billion by 2040. It boasts a comprehensive portfolio for nearly every charging scenario, ensuring its customers can have customized solutions for their needs. Furthermore, ChargePoint generates recurring revenues, promoting long-term stability. With these factors in place, the company looks set to maximize growth opportunities provided by President Biden’s commitment to building 500,000 EV charging ports across the continent.

The drive towards cleaner, greener forms of transport is gathering momentum as EVs become increasingly popular. This boom in EV popularity has a knock-on effect for companies such as ChargePoint, who are responsible for installing charge points for battery-powered cars. ChargePoint has been growing each quarter rapidly, delivering triple-digit growth in its sales and earnings.

BYD Company (BYDDF)

BYD Company Limited logo in front of their website. BYDDY stock.

Source: T. Schneider / Shutterstock

BYD Company (OTCMKTS:BYDDF) is respected for being a leader in the electric vehicle industry, and its current presence on the list of top EV stocks to buy can’t be overlooked. Although Buffett has recently reduced his stake, he has held onto this stock for 14 years, which speaks to its long-term value and potential.

The Chinese electric vehicle (EV) market is positioning itself as a leading force in the industry, and BYDDF stock offers unparalleled access to this ever-growing space. With China dominating the sector in terms of both size and rate of growth, investors can now gain exposure to these favorable dynamics at nearly a third off the stock’s highs. Industry observers suggest there is no better way to take advantage of the expansive opportunities in this booming sphere than to add BYDDF stock to their portfolios.

General Motors (GM)

A self-driving Chevrolet Bolt from Cruise Automation, a subsidiary of General Motors (GM).

Source: Michael Vi / Shutterstock.com

As a major manufacturer, General Motors (NYSE:GM) is setting a powerful example of how to move towards sustainability. The company has committed to the electrification of its lineup over the next five years, and is already taking strides in this direction. This shift was exemplified by the impressive third-quarter sales figures for its EVs, indicating that customers respond favorably to GM’s environmentally-friendly efforts. Thus, with enthusiasm from both automobile companies and other businesses alike, it’s clear that we can all work together to move towards an environmentally conscious future. GM’s latest moves position it as a leader in this exciting wave of innovation, further strengthening its commitment to building a greener tomorrow.

General Motors’ continued success paid off in its recently announced sales of over 2.2 million vehicles within the United States in 2022, overtaking Toyota Motor’s yearly total. Indeed, this impressive result was driven by the astonishing 623,261 vehicles sold in the fourth quarter alone and displays GM’s commitment to providing innovative solutions and meeting consumer needs.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.