Lucid Motors (LCID) and Nikola (NKLA) already enjoy multi-billion-dollar valuations but are yet to begin any meaningful shipments of electric vehicles (EVs). These high-risk bets have the potential to turn multibaggers in the upcoming decade given the accelerated transition towards the adoption of electric vehicles. But which is currently the better buy?.Electric vehicle (EV) stocks have trailed the market in 2021, after a spectacular run in 2020. However, this current underperformance is providing an opportunity for investors to buy the dip, as the companies in this space remain poised for spectacular growth in the next decade.
Much of this growth is due to the shift towards clean energy solutions, supported by federal and state governments all around the world via subsidies and other benefits. This in turn will attract both legacy automobile players as well as new entrants into the EV market.
Today I will compare two EV stocks, Lucid Group (LCID) and Nikola (NKLA), to see which is a better buy right now.