EV Manufacturers Now Outpace Internal Combustion by More Than 2 to 1

In just a few weeks, 999 electric vehicles will be delivered to the U.S. from Vietnam.

These particular vehicles are produced by a company called VinFast, a private Vietnamese electric car company that’s expected to go public next year.

To be honest, I was surprised when I first heard about VinFast. After all, Vietnam isn't really known for building and exporting its own domestically branded vehicles. Yet here we are today, and not only is a Vietnamese car company delivering nearly 1,000 new vehicles to the U.S. market, but it’s also only delivering electric cars, which, when you consider it, is actually the new trend in automobile manufacturing. 

Twenty years ago, there really were only about 20 automakers on the planet. Today, there are more than 50 — and every single one of these 30 new carmakers is electric.

Think about that for a moment.

It only took about 20 years for us to go from zero electric car makers to more electric car makers than all the internal combustion vehicle manufacturers combined.

And every single manufacturer of internal combustion vehicles is now producing electric vehicles as well. 

This speaks volumes about where the automotive industry is heading.

Moreover, it speaks volumes about the power of free market competition.

Truth is, before Tesla (NASDAQ: TSLA) came along, there was no real competition outside of the traditional carmakers. And quite frankly, there wasn’t much of a difference between any of them in terms of new offerings, aside from maybe Toyota with its Prius, which proved to be one of its most valuable product lines ever.

But now, not only has Tesla proved to be a legitimate competitor in the auto industry, but there are now more electric car companies than there are traditional internal combustion vehicle companies. 

This isn’t to say that every new electric vehicle company competing with the old guard will succeed. In fact, most will fail. That’s just the nature of startups. But the ones that do succeed offer a massive opportunity for investors looking to profit from the evolution of personal and commercial transportation. 

If you’re a longtime reader of these pages, you likely bought shares of Tesla after I encouraged investors to pick some up after its IPO. And boy, was that a major score. 

That one stock allowed many regular, everyday investors to become millionaires.

This isn't hyperbole, either.

A one-time investment of $5,000 in Tesla when it first went public was worth more than $1.5 million by November 2021.

Of course, the big money on Tesla has already been made. And while I have no doubt that Tesla is now a legitimate player in the automotive industry, there will be more — and like Tesla, they will be electric. 

I told you about one last week that’s producing a solar-powered electric car that’ll start deliveries next year.

It already has more than 22,000 pre-orders (more than $600 million worth), and it recently landed an exclusive contract with Bosch.

If you’re unfamiliar, Bosch is a global supplier of technology and services. In 2021, it generated sales of $81.4 billion, so this contract is not trivial. In fact, this is a pretty big deal when you consider this solar-powered electric car company is super-small and barely trading for more than $1 a share.

Of course, it should be noted that the 12-month median analyst price target for this stock is $6.37 a share, representing a potential gain of more than 400% in just one year. 

I actually think it could be even more, which is why I put together a short presentation on this company explaining why this could be the biggest winner in the electric car space since Tesla.

Don’t forget, this company’s solar-powered electric vehicles are set to hit the road next year, so if you’re looking to wet your beak on this one, you'll want to do it soon. 

Bosch is certainly getting in on the action, and I can assure you, its management team isn’t going to do a deal with anyone unless there’s a lot of money to be made.

Learn why Bosch inked this deal here.

To a new way of life and a new generation of wealth…

Jeff Siegel

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Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor’s page.

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