3 EV Stocks To Buy This Month

Many electric vehicle (EV) stocks skyrocketed in 2021, when interest rates were low, and consumers ramped up vehicle purchases after the pandemic. But many of those stocks fizzled as inflation drove up their expenses and interest rates spiked in 2022 and 2023.

The market's interest in EV stocks remains tepid, since many growth-oriented investors are chasing hotter AI stocks. Yet the EV market is still expanding -- so it could be a great time to buy Rivian (NASDAQ: RIVN), BYD (OTC: BYDDY), and Joby Aviation (NYSE: JOBY)

Image source: Rivian.

Rivian Automotive

When Rivian went public in 2021, it initially sold three vehicles: the R1T pickup, R1S SUV, and custom electric delivery vans (EDVs) for Amazon. It subsequently produced custom EDVs for other companies and launched its cheaper R2 SUV earlier this year.

Rivian has struggled to ramp up its production. After more than doubling its production to 57,232 vehicles in 2023, that figure dropped to 49,476 in 2024 and 42,284 in 2025. It attributed that slowdown to its supply chain constraints, reduced EV subsidies, and intense competition. Its high starting prices ($77,500 for the R1T and R1S) further limited its mainstream appeal.

However, it expects the R2, which starts at $57,990, to expand its addressable market and boost its annual deliveries to 62,000-67,000 vehicles this year. It plans to launch an even cheaper version of the R2, starting at around $45,000, in late 2027. Selling a higher mix of R2 SUVs will also boost Rivian's gross margins, since it's cheaper to manufacture than the R1.

From 2025 to 2028, analysts expect Rivian's revenue to more than triple, with its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) turning positive in the final year. With an enterprise value of $22.6 billion, it trades at just three times this year's sales -- and it could command a higher valuation if it proves its business model is sustainable.

BYD

BYD, China's largest automaker, surpassed Tesla as the world's largest EV maker by annual vehicle sales in 2025. It sold 4.6 million vehicles in 2025, compared to its 1.9 million vehicles in 2022 -- the year it entirely phased out its gas-powered vehicles.

Today, BYD sells plug-in hybrid EVs (PHEVs) and battery-powered EVs (BEVs). It differentiates itself from its competitors by producing its own lithium iron phosphate (LFP) batteries, which are safer, cheaper, and more power-efficient than conventional lithium-ion batteries. It also created a vertically integrated supply chain by producing its own motors, chips, and power electronics.

BYD is expanding into Asia, Europe, and Latin America to reduce its dependence on China. In China, it's upgrading its own fast-charging network, increasing its production capacity, and integrating new AI features into its mid-range vehicles. It's also unified its production lines with its e-Platform 3.0 architecture across multiple vehicles.

From 2025 to 2028, analysts expect BYD's revenue and EPS to grow at CAGRs of 13% and 23%, respectively. At 14 times this year's earnings, it's a bargain relative to its growth potential.

Joby Aviation

Joby produces electric vertical takeoff and landing (eVTOL) aircraft. Its S4 eVTOL carries a single pilot and four passengers, travels up to 150 miles on a single charge, and reaches a maximum speed of 200 miles per hour. The S4 can fly faster and farther than many other eVTOLs because it uses lighter tilt-rotor propellers that alternate between lifting and cruising modes, instead of the separate lifting and cruising propellers used by its competitors.

Big investors and customers, including Toyota, Delta Air Lines, and Uber, already back Joby. Toyota will help Joby manufacture its commercial eVTOLs, Delta will use the S4 for its airport-to-home air taxi services, and Uber will integrate its flights into its new Uber Air platform. It has already completed test flights in the UAE, South Korea, and Japan, and plans to launch its first commercial flights in the U.S. in the near future.

The Federal Aviation Administration (FAA) hasn't fully certified Joby's commercial flights yet, but that certification could significantly boost its sales over the next decade. Analysts expect its revenue to rise nearly ninefold from 2025 to 2028.

With an enterprise value of $8.7 billion, it might seem pricey at 78 times this year's sales. But it has plenty of upside potential: according to Eve Air Mobility's Global Market Outlook, there could be 30,000 eVTOLs carrying three billion passengers by 2045.

Leo Sun has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Tesla, and Uber Technologies. The Motley Fool recommends BYD Company and Delta Air Lines. The Motley Fool has a disclosure policy.