After a recent dip, growth investors can look to add electric vehicle (EV) stocks to their portfolios. In this article I will analyze Workhorse Group (WKHS) and Electric Last Mile Solutions (ELMS) to see which commercial EV stock is a better buy.After a spectacular rally in 2020, many electric vehicle (EV) stocks have taken a breather this year. Several EV stocks are now trading significantly below their record highs providing investors an opportunity to buy the dip.
The shift towards clean energy solutions is inevitable and should gain significant momentum in the upcoming decade making EV stocks interesting investments right now. Demand for commercial EVs is also set to explode as enterprises look to lower their carbon footprints. Further, EV manufacturers will benefit from economies of scale in the future which will reduce production prices and fuel enterprise demand.
These factors could make companies such as Workhorse Group (WKHS) and Electric Last Mile Solutions (ELMS) good additions to your EV portfolio. But which between the two stocks is a better long-term buy?
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