Final answer:
Stocks similar to Tesla are typically involved in electric vehicle manufacturing or renewable energy sectors. Examples include NIO Inc., Nikola Corporation, and Lordstown Motors, among others. They are comparable because they share a focus on EV innovation and technology.
Step-by-step explanation:
When considering stocks similar to Tesla, we are typically looking for companies involved in electric vehicles (EVs), renewable energy, or technological innovation. Here's a list of 9 stocks that are similar to Tesla in terms of their business models or market segments:
- NIO Inc. - A manufacturer of smart and connected premium electric vehicles in China.
- Li Auto Inc. - An innovator in China's new energy vehicle market that manufactures electric vehicles.
- Xpeng Inc. - Another Chinese electric vehicle manufacturer, focusing on technology and innovation.
- Nikola Corporation - An American company that produces zero-emission vehicles, particularly hydrogen-electric trucks.
- Lucid Motors - A luxury EV manufacturer, known for its advanced technology and high-performance EVs.
- Rivian - An American automaker specializing in electric trucks and SUVs with innovative storage solutions.
- Byton - A Chinese EV startup focusing on smart, interconnected electric cars.
- Lordstown Motors - An American electric vehicle manufacturer concentrating on light duty electric trucks.
- Workhorse Group - A technology company focusing on providing sustainable and cost-effective electric drones and vehicles for the last-mile delivery sector.
These companies share Tesla's core focus on electric vehicles and represent a blend of mature and emerging players in the EV space, which is a major factor driving their comparison to Tesla.