On September 19, Amazon.com Inc. (NASDAQ: AMZN) announced its plans to buy 100,000 electric delivery trucks from Rivian. It's part of an effort to cut the company's carbon footprint.
This trend could be a lucrative opportunity for investors looking to buy electric vehicle stocks. Unfortunately, even with Rivian's explosive potential, you can't buy Rivian stock yet since it's not a public company.
But Rivian stock will certainly be one to watch if the company ever holds an IPO.
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And because this industry has such explosive potential, we have another electric vehicle stock you can buy. We'll show you in just a moment.
The industry is getting a boost after Amazon said it aims to be carbon-neutral within the next 21 years. That's 10 years earlier than the UN Paris Agreement's goal of 2050. And Amazon won't be the only company speeding up its push towards renewable energy.
For Rivian, Amazon's order is its largest yet. Rivian is only gaining in popularity, as the company already has plans to develop all-electric trucks and SUVs for consumers by 2020.
In fact, we have another electric vehicle stock that's developing consumer-focused electric vehicles. And our Money Morning VQScore ™ system just gave it its highest score.
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Plus, it's making billions every quarter. And it even has a 62% upside over the next 12 months…
The Best Electric Vehicle Stock to Buy Now
About the Author
Daniel Smoot is a Baltimore-based editor who helps everyday investors with stock recommendations and analysis. He regularly writes about initial public offerings, technology, and more. He earned a Bachelor's degree from Towson University.