Electric vehicle stocks have been some of the best performing stocks over the past few years. This performance is expected to continue, especially in semiconductor stocks. NXP Semiconductors N.V. (NASDAQ:NXPI), ON Semiconductor Corporation (ON), and Intel Corporation (NASDAQ:INTC) are three worth a look.One of the most best performing industries over the last three years has been electric vehicles (EVs). Nio (NYSE:NIO) is up an amazing 440% and Tesla (NASDAQ:TSLA) is up more than 1,600%.
This trend is likely to continue in the coming decade as the recently passed U.S. infrastructure bill has earmarked money for EV charging. Plus, most automakers are making investments in EVs and plan to launch lineups over the next couple of years.
EV manufacturers aren’t the only companies that stand to benefit. In many modern EVs, there are over 3,000 semiconductor chips. Therefore today I’m going to take a look at three chip stocks, NXP Semiconductors N.V. (NXPI), ON Semiconductor Corporation (ON), and Intel Corporation (INTC), which should continue to benefit as the EV industry grows.