2 Top EV Stocks to Buy in February

Industry Overview - Electric vehicle (EV) sales in the U.S. grew by 7.3% in 2024, reaching a record of 1.3 million units sold, despite a 1% annual sales decline for Tesla, marking its first decline in over a decade [1][2] - Globally, EVs accounted for around 20% of all vehicle sales in 2024, indicating a strong growth trajectory expected to continue for years to come [2] Company Analysis: Rivian Automotive - Rivian Automotive is highlighted as a promising EV stock, with sales under $5 billion and a strong customer satisfaction rating, scoring the highest among all manufacturers [5][6] - The company is currently facing financial challenges, losing money on each vehicle and burning through over $1 billion in cash last quarter [6] - Rivian plans to introduce three new mass-market vehicles in 2026, priced under $50,000, which could significantly boost sales and lead to profitability [7] - Rivian shares are currently valued at 2.8 times sales, compared to Tesla's 13.6, suggesting potential for narrowing this valuation gap as sales ramp up [8] Company Analysis: Lucid Group - Lucid Group is positioned for maximum growth potential, with a sales base approximately 80% smaller than Rivian's, but expected to sustain higher growth rates in the near term [9][10] - The company recently launched its Gravity SUV platform, contributing to a 50% increase in sales in January compared to the previous year, although total sales remain low at 665 vehicles [10] - Lucid shares trade at 9.2 times sales, higher than Rivian's valuation, but analysts project a 117% sales growth for Lucid this year compared to just 11% for Rivian [11]