Penny stocks are those you can buy for a small amount. For the most part, we don’t think of these stocks in the automotive market, but there are a few.
The movement toward more electric vehicles brings more companies into the fray, which means you can find more places to park your money. It’s important that your portfolio is diversified, but that can be difficult when you want to buy into Tesla or other high-priced auto stock. Instead, spread your money around with these penny stocks. Choose several of these companies at low prices and spread your money out.
SPI Energy Co., Ltd. (SPI)
SPI Energy isn’t entirely in the automotive market, but their recent acquisition puts them in this arena. Mostly, this company provides clean energy solutions including solar projects that sell electricity to power companies and other electricity entities. SPI Energy recently acquired Phoenix Motorcars and EdisonFuture. This subsidiary recently delivered its second ZEUS Z-400 shuttle bus to the city of Santa Cruz. These shuttle buzzes are all-electric and provide shuttle services in the city. This is only the beginning and gives you a good place to start investing.
Lithium Americas (LAC)
Although Lithium Americas isn’t actually considered an EV company, they work to find the material necessary for EV batteries. This makes LAC the perfect company when you’re looking or penny stocks in and related to the automotive market. Recently, the price of this stock was less than $20.00 per share, which is about as close to a penny stock as you’ll find in many corners of the market. The high demand and limited supply of this material could cause this company’s stock price to soar.
Ayro, Inc. (AYRO)
One of the newest EV automakers in the United States is Ayro. If you’re looking for a truly low-priced stock, this is the type of company you want to find when its time for you to invest. The company has been around for a few years, but most have never heard of it. If you can grab several shares for only $100, wouldn’t you want to invest in this stock and see how well it performs over the next several years?
CBAK Energy Technology, Inc. (CBAT)
CBAK Energy sells lithium batteries in Mainland China, the United States, Europe, Taiwan, Israel, and several other countries. The produces from CBAK are used in several ways including in new EVs as they begin development. Smaller CBAK batteries are included in electric bicycles and smaller items including electric tools. This company also aids in energy storage, uninterruptible power supply, and other high power requirements. The current price is ripe for the picking when you want something close to penny stock prices in the automotive market.
Ault Global Holdings, Inc. (DPW)
This is a low-cost stock that covers two sectors, making it a great choice. Ault Global Holdings is involved in building power systems for the military, medical field, and telecommunications industries. Additionally, this is an EV stock, but in the defense sector, which makes it a great option when you want an affordable stock that can give you great returns over time. If you want a stock that covers several areas, this could be the company that you invest in and enjoy some healthy returns.
Arcimoto, Inc. (FUV)
Arcimoto could be one of the most fun places for you to park some money when you’re searching for the right penny stocks in the automotive market. This company develops, manufactures, and sells three-wheeled electric vehicles. Some of the models offered by Arcimoto include the Fun Utility Vehicle; Rapid Responder which is made for specialized emergency, security, and law enforcement services. This three-wheeled EV is also used for delivering good to customers. Previously Arcimoto was known as WTP Inc. but changed its name in December 2011.
ElectraMeccanica (SOLO)
This Canadian EV company has a few different lines of electric vehicles heading to the market including a unique looking one-seat three-wheeled vehicle. SOLO has been on a downtrend, which puts it back in the penny stock range. If you’re looking for a fun company to invest in, you might enjoy SOLO as you learn about the variety of EV models coming form this small but growing Canadian electric vehicle company that can eventually offer ample returns while you’re watching your profits grow.
Kandi Technologies Group, Inc. (KNDI)
This China-based company builds, designs, and develops off-road electric vehicles that can be a lot of fun for anyone looking for a great adventure. Some of the off-road vehicles offered include go-karts, all-terrain vehicles, utility vehicles, and other models that are a lot of fun on some wilderness trails. When it comes to penny stocks and the automotive market, you might have found a real winner with Kandi Technologies Group, which makes some of the most fun adventure vehicles in the entire market. Will this be the affordable stock you invest into?
Ideanomics (IDEX)
Ideanomics is an EV support company with a specialty in fintech. If you haven’t heard this term before, it’s a combination of financial and technology which is what Ideanomics offers. This company brings the necessary solutions to EV companies to help them understand how to finance their next venture and build the technology necessary. When you’re looking for an affordable stock that could garner many shares with a small investment, this could easily be the perfect company for you to have your money invested for the future.
Lordstown Motors (RIDE)
One of the most impressive up-and-coming electric vehicle companies in the United States is Lordstown Motors. Now is the time to invest your money before the company stock prices increase. If you want to invest in penny stocks in the automotive market and want to avoid a Chinese company, this could be the place for your money. Lordstown Motors is based in Lordstown, Ohio and was founded in 2019. This company develops, manufactures, and sells the Endurance full-size pickup truck for fleet customers searching for an EV pickup truck.
These ten companies offer penny stock prices in the automotive market to ensure you can buy several shares at affordable prices. Will you choose any of them for your next investment?
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