EV stocks to buy have long been one of the top investment options for savvy investors. These stocks, which rode the surge off their pandemic lows, delivered stellar long-term gains for investors.

However, after reaching their zenith in late 2021, many faced downward pressure from supply chain disruptions and a shift in investor preferences.

But the winds of change are blowing favorably for EV stocks again. Skyrocketing gas prices and an ever-increasing interest in electric vehicles have rekindled again. In the battle against climate change, U.S. consumers have embraced a potent weapon.

This commitment to curbing carbon emissions has created a significant ripple in the investment landscape. Investors keen on high return EV stocks to buy are flocking to this segment, recognizing the potential for terrific long-term returns.

Venturing into this landscape, the best EV stocks to buy offer an exciting proposition. Therefore, allocating a portion of your portfolio to these entities could be a strategic move toward attaining robust returns.

Tesla (TSLA)

Tesla (NASDAQ:TSLA) stands tall in the EV space as a robust engine for wealth creation. The firm’s aggressive vehicle price reductions have resulted in stellar delivery growth and bottom-line expansion.

It delivered an impressive $2.7 billion in operating income with an 11.4% operating margin in its most recent quarter. Its net income hit a whopping $2.5 billion, thanks to an astounding 422,875 vehicle deliveries in the quarter.

CEO Elon Musk’s unwavering commitment to innovation and cost reduction and Tesla’s prime position as a top-tier lithium-ion battery manufacturer ensure a substantial edge over competitors.

Musk brings a certain flair to Tesla, one that feeds into its technological prowess. TSLA shares have gained immensely since the start of the year and should continue delivering for the foreseeable future.

That’s what makes it one of the best EV stocks to buy now.

Li Auto (LI)

Li Auto (NASDAQ:LI) has emerged as one of the best performers in the Chinese EV space. The stock has raced ahead by 62% year-to-date, owing to robust financials and a consistent upsurge in vehicle deliveries.

Li Auto has proven its mettle, showing exceptional growth and dodging the bullets of pricing wars and inflationary pressures.

Li Auto delivered 52,584 vehicles in the first quarter, marking a 66% bump from the prior year.

The company is flushed with $9.46 billion in cash, delivering robust potent free cash flows and enabling it to pursue aggressive expansion.

As we look to the horizon, Li Auto anticipates delivering between 76,000 and 81,000 vehicles in the next quarter, indicating an impressive growth range of 165% to 182%.

In a nutshell, Li Auto is not only navigating the EV terrain effectively but blowing past its competition at a rapid pace.

Toyota (TM)

Often overlooked in the EV conversation, Toyota (NYSE:TM) has been steadily laying the foundation for an electrified future. It’s widely regarded as a frontrunner in the hybrid realm and has been effectively preparing itself for the upcoming all-electric wave.

Navigating toward 2026, Toyota will dive deep into the battery electric market, emphasizing quality and durability. New CEO Koji Sato is accelerating toward a future with 10 new battery electric vehicles in the company’s lineup by 2026.

This strategic leap puts Toyota squarely in the EV race, targeting 1.5 million EV sales by 2026, powering up for a competitive showdown amongst legacy EV makers.

Toyota’s approach might seem cautious, aligning itself to become a formidable force in the EV market.

ChargePoint (CHPT)

ChargePoint (NYSE:CHPT) remains a key player in the charging infrastructure space, electrifying the North American market with its asset-light B2B model. Its dazzling first-quarter performance reported a whopping 102% revenue surge, reaching an impressive $81.6 million, with its investors salivating over its future growth prospects.

However, its ambitions don’t stop at top-line expansion. With an unwavering focus on profitability, ChargePoint is looking to slash its EBITDA loss dramatically by the fourth quarter.

A massive 41% year-over-year sales increase could be on the cards if it hits the midpoint of its second-quarter guidance. Analysts at Tipranks point to more than 100% upside from current price levels, adding another layer of positivity to ChargePoint’s outlook.

ChargePoint’s strong financial performance and ambitious profitability targets make it a winner in the EV infrastructure space.

Nio (NIO)

While it navigated a challenging downtrend, Chinese EV manufacturer Nio (NYSE:NIO) is back in the thick of things. This resurgence pertains to China’s decision to extend tax exemptions for EVs.

Despite a setback in May, Nio dubbed the “Tesla of China,” focuses on high-end EVs and premium services.

The robust first-quarter performance continues to push Nio forward, boasting 31,041 vehicle deliveries. Though it’s far from its historical quadruple-digit average growth rates, year-over-year revenue growth remains at a stellar 31.4%.

Analysts predict a double-digit from current price levels, buoyed by management’s positive outlook and anticipated economic recovery in China.

Nio benefits from expansion into Europe, forthcoming product launches, and a steady rise in vehicle deliveries. Armed with a varied product lineup and innovative battery-swapping stations, Nio remains established in the EV domain.

Panasonic (PCRFY)

Panasonic (OTCMKTS:PCRFY) is a renowned player in the EV battery space, poised to power up your portfolio. This energy giant’s prospects are incredibly bright due to its fruitful collaboration with EV trailblazer Tesla.

As a key battery provider to Tesla and an operational advantage from its U.S.-based EV battery plant, it positions robust long-term gains under the Inflation Reduction Act.

However, it isn’t merely relying on existing partnerships. It’s eyeing a formidable leap ahead, targeting a 20% boost in the energy density of its EV batteries by 2030.

This ambitious goal could give Panasonic a competitive edge in the power-packed race of EV batteries. The bears may focus on losing Tesla’s exclusivity, yet Panasonic has effectively counteracted, forming a promising joint venture with Toyota.

Panasonic’s strategic moves have charted a clear path for long-term expansion, signaling that it’s a stock with high potential for investors.

General Motors (GM)

Renowned automaker General Motors (NYSE:GM) has made a bullish statement in the EV realm, leveraging its long-standing market presence and robust brand equity.

Off to a roaring start in 2023, the company has found resounding success in its larger SUVs and full-size trucks, selling 600,000 vehicles in the U.S. in the first quarter, an 18% uptick from the same period last year.

Pivoting towards the electrified future, GM is forging ahead in the EV space, perfectly timed with the rising tides of EV demand. The first quarter saw more than 20,000 EV sales in the U.S., and the firm is poised to meet its ambitious goal of rolling out 50,000 EVs in North America by June.

Following savvy price cuts for the Chevy Bolt, it’s now the cheapest EV in America, resulting in a 50% sales surge compared to last year. Moreover, it recently unveiled the all-electric Cadillac Escalade IQ on the horizon. In a nutshell, GM is strategically positioned for an electrified future, making it an incredible EV prospect.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines