The Fisker Ocean.
Tesla has developed a “considerable first mover benefit” over new entrants in the ever-expanding electrical car market, but a few other smaller names stick out, according to CFRAs Garrett Nelson. In a note released Wednesday the senior equity analyst said Amazon-backed Rivian, Lucid Motors, and Fisker will emerge as “success stories,” as EV sales climb in 2021. Nelson uses four categories to examine emerging electric-vehicle producers: 1) the specs (rate, range, etc.) and total appearance of their preliminary vehicle models; (2) monetary considerations such as their funding sources, balance sheets, and liquidity; (3) the growth chance of their sub-industry; and (4) the experience and trustworthiness of management. He stated all 3 names fare well in each classification. Furthermore, all 3 automakers will be among the first to bring electric automobiles to the roadway, with Rivian and Lucid anticipated to put models on the roadway this year and Fisker in late 2022. Fisker debuted in public markets in October, while Lucid Motors announced a merger with SPAC Churchill Capital Corp. IV on Monday. Rivian is seeking to go public as quickly as September at an evaluation of $50 billion, Bloomberg reported earlier this month..
CFRA forecasts that United States EV sales will grow by over 50% to go beyond 500,000 systems in 2021, especially if the Biden administration passes legislation that could benefit EVs.