Core Insights - The electric vehicle (EV) market is experiencing a decline in U.S. consumer interest, with domestic sales falling 4.4% in April, ending a 14-month growth streak [2] - Despite short-term challenges in the U.S., the global EV market continues to evolve, with significant growth expected in regions like China and Europe [3][6] - Three notable EV stocks are highlighted for potential investment: Nio, Navitas Semiconductor, and QuantumScape [3] Company Summaries Nio - Nio delivered 221,970 vehicles in the previous year, primarily in China, with plans to expand into the Middle East [5] - The International Energy Agency projects that 80% of China's vehicle sales will be all-electric or plug-in hybrids by 2030, with Europe expected to reach 57% [6] - Nio is not yet profitable but is making progress, with analysts rating it as a strong buy and a consensus price target of $4.78, indicating a 40% upside [7][8] Navitas Semiconductor - Navitas specializes in semiconductors, particularly silicon carbide and gallium nitride integrated circuits, which are crucial for EV applications [9][10] - Its technology can enhance EV battery range by 5% and charge batteries three times faster while using 70% less energy [11] - The company reported $450 million in new design wins for 2024 and increased its customer pipeline to $2.4 billion, indicating growth potential [12] QuantumScape - QuantumScape focuses on developing solid-state lithium batteries, which can provide 25% more driving range and endure over 1,000 charging cycles with minimal degradation [14][15] - The solid-state lithium battery market is projected to grow from $2 billion to $33.4 billion by 2033, with an average annual growth rate exceeding 36% [17] - Although QuantumScape is currently unprofitable and not generating commercial revenue, it has partnerships with major automakers like Volkswagen, indicating strong future potential [16]