These Trends Could Be Winners In The Second Wave Of The EV Boom

FN Media Group Presents Oilprice.com Market Commentary

LONDON, May 18, 2021 /PRNewswire/ -- The rise of electric vehicles is one of the biggest trends of the last decade, taking names like Tesla and Nio to the top of the markets. But 2021 is proving that other types of companies may be ready to make their mark. Mentioned in today's commentary includes: Oshkosh Corporation (NYSE: OSK), Workhorse Group Inc. (NASDAQ: WKHS), Nikola Corporation (NASDAQ: NKLA), General Motors Company (NYSE: GM), Electrameccanica Vehicles Corp. (NASDAQ: SOLO).

Last year, it seemed EV companies could do no wrong, with countless companies in the industry seeing their shares hit new highs. Nikola, for example, soared for 672% gains at its highs. Tesla was up 695% on the year. And Nio took off for incredible 1,210% gains.

But today, the world is finally seeing some chinks in the armor of the companies that seemed invincible just 6 months ago. And space is finally being made for new, exciting companies with a different spin on how to use this new technology.

For example, while Nikola, Nio, and Tesla, for example, are all slightly down for the year from their highs. Two companies in other but related industries that we've discovered are looking to have a banner year thanks to key new partnerships and acquisitions. This rise and transition of EVs could duplicate the same trend we've seen over and over again with major booms.

While some successful EV companies may just be taking a breath to come back to reality. The market also appears to be trimming the fat and revealing who the truly valuable companies are.

Today, we're seeing a second wave shaping up - one where the EV automakers have already played out their incredible upside. And others who are taking electric vehicles in creative new directions. These are the pick and shovel plays that might prove akin to the big winners of the gold rush.

An ESG Ecosystem

Facedrive (FD; FDVRF) is a fast-growing Canadian company which has seen shares soar for incredible 526% gains over the last year. And they've done it by leveraging the power of the first EV boom by taking it in exciting new directions. For example, they became well-known first for their signature ridesharing service.

Giving riders the flexibility and eco-conscious options, that Uber and Lyft are only planning to provide, Facedrive allows customers to choose whether they'd like to take their ride in an electric vehicle, gas-powered vehicle, or hybrid. And it even takes it a step further by planting trees to help offset the carbon footprint of each ride using AI technology. It's this sort of "people and planet first" philosophy that has helped Facedrive multiply their business several times over throughout 2020 and into 2021.