This is the second of two Deep Dive articles screening EV-related stocks. The first screen was based on analysts’ ratings and consensus price targets. This screen is based on projected sales growth from 2023 through 2025.
With such remarkable performance this year, including a doubling of shares for Tesla Inc. TSLA, -1.70% and a 34% increase for Rivian Automotive Inc. RIVN, -0.81%, along with an increase in its production estimate for 2023 on Thursday, it is a good time to look as far ahead as we can at industry growth projections from elevated 2023 baselines.
We looked at calendar-year consensus estimates through 2025 to see which companies were expected to have the highest compound annual growth rates for revenue from a 2023 baseline. We used calendar-year estimates because some companies’ fiscal years don’t match the calendar. This screen incorporates a significant upward move for some companies’ 2023 estimates.
For XPeng Inc. XPEV, -4.28%, the table only includes the American depositary receipts held by DRIV. But the company’s Class A shares 9868, -6.58% are held by KARS and IDRV.
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