Tesla may be the first name to spring to mind for investors looking to invest in EV stocks but this fund manager has another pick.
Tesla may be an investor favorite for exposure to the electric vehicle industry, but fund manager Jordan Cvetanovski has another way to play the booming sector. The Texas-based EV behemoth has reaped the benefits of its early leadership, with the stock price rallying around 45% last year — sending the company into the exclusive $1 trillion market cap club prior to this year's market rout.
"Having said all this, we have to just think about investing. We can't invest with our hearts too much. We have to combine it with some kind of discipline and for us, valuation is very important," he added. An alternative pick Cvetanovski noted that German automaker BMW currently produces about 2.5 million vehicles a year and is valued at around $50 billion.
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