Friday is looking like a lousy day to own unprofitable electric vehicle (EV) stocks. Up and down the supply chain -- from the companies that mine lithium to those that turn lithium into battery packs to those building networks of charging stations -- all EV stocks are tumbling.
The business plans of QuantumScape and EVgo have remained on track, but Arrival's schedule has been derailed.
Clearly, there is immense growth potential for companies operating in this sector. Let's look at three promising EV companies that are not profitable today but could be highly successful in the future. Investing in these companies' stocks could make you a fortune five years down the line or earlier.