4 Penny Stocks To Watch After DeLorean’s Electric Vehicle Comeback

Yes, you read that headline correctly. The car brand made popular by the Back To The Future series could be making a big comeback in some new skin. That has helped bring some much-needed awareness back to electric vehicle stocks.

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The last few months have been full of new brand launches with the emergence of EV as a growing trend. Whether it was Lucid Motors (NASDAQ: LCID), Rivian Automotive (NASDAQ: RIVN), the pending Gores Guggenheim merger with Polestar (NASDAQ: GGPI), or various other new EV names, it’s clear that the market is excited by the potential that this industry holds. Today we see another spark of joy from 1980’s nostalgia.

DeLorean EV stocks

The DeLorean could be making a comeback. A YouTube video titled “The Future was Never Promised” was released this week by the DeLorean Motor Company YouTube page. It showed a silhouetted view of a car with the iconic gullwing doors and a prompt to visit the company’s website. Furthermore, an electric vehicle spin was also put on the iconic brand.

The YouTube video’s description stated, “DeLorean is future luxury reimagined. With a 40 year legacy, DeLorean shapes an iconic vision of our future mobility. With passion, innovation, and technology, we drive confidently forward on our journey to electrification. We are risk takers who challenge the perception of what is possible to advance. The future was never promised. Reimagine today.”

EV Penny Stocks To Buy For Under $5

Whether this is the hype of yet another DeLorean reboot or something else to revive the brand has come secondary to what it may have done for the stock market today, specifically EV stocks. In light of the start-up nature that DeLorean has embedded into the independent car company industry, we look at a handful of penny stocks that have popped after the DeLorean speculation first began. Remember that just because they can be bought for under $5 doesn’t make them any less risky.

  1. Arrival Group (NASDAQ: ARVL)
  2. ElectraMeccanic Vehicles Corp. (NASDAQ: SOLO)
  3. Lordstown Motors (NASDAQ: RIDE)
  4. Romeo Power, Inc. (NYSE: RMO)

Arrival Group (NASDAQ: ARVL)

ev penny stocks to buy Arrival Group ARVL stock

Focused on producing “affordable” electric vehicles, Arrival has fit the mold of many start-up stage EV companies based on its market performance so far. Shares were trading much higher even earlier this year, but now that it’s a penny stock, we get to take a closer look.

Arrival’s focus is on commercial and government fleets. Its portfolio includes everything from delivery vans to ride-hailing vehicles and even buses. So far, Arrival has established four initial partners in the U.S. These partners include Amerit Fleet Solutions, Bridgestone Retail Operations, NAPA AUTO PARTS, and Valvoline. There are also four initial partners in the EU, including ARC Europe Group, Kwik Fit, Rivus Fleet Solutions, and ZF. These partners are in place to help create the Arrival Service Network to offer thousands of access points for service options for Arrival customers.

Arrival continues building the framework for rolling out a lower-cost EV solution despite the early stutter steps. Investors will likely be following closely on Arrival’s upcoming earnings report for Q4 and full-year 2021. Since those come out on March 2, there is still plenty of time for things to change. However, last quarter’s report painted a muted picture of the company based on its statement of lower volumes and revenue for this year. Against a backdrop of new initiatives in battery recycling, the prototype reveal of its ride-hailing car, and new trials of its Electric Bus all happening in Q4, it could be interesting to see what the company discusses as far as its next steps go.

ElectraMeccanic Vehicles Corp. (NASDAQ: SOLO)

ev penny stocks to buy electrameccanica SOLO stock

One of the EV penny stocks that have been in and out of the spotlight over the last year is ElectraMeccanica. The single-person EV car company had officially begun rolling out new vehicle deliveries during the second half of 2021. It also unveiled a new offering of cargo vehicles in September. Fast-forward to this month, and ElectraMeccanic has officially announced the release of this new SOLO Cargo EV to fleet and commercial customers for next quarter.

The most recent update from ElectraMeccanic has yet another new product launching. In partnership with Faction Technology, the company’s autonomous SOLO EV Pilot will debut a driverless and remote vehicle solution. Faction will test its autonomous driving tech in micro-logistics settings. These are things like food every, vehicle-on-demand, and the like.

Kevin Pavlov, CEO of ElectraMeccanica, explained, “We believe Faction’s technology is essential in the evolution towards full autonomous driving, enabling vehicles to deliver cargo through a combination of autonomy and a remote worker using teleoperations to assist. We look forward to working with the team at Faction to test our vehicle with its technology platform and to promote urban micro delivery.”

With the expected completion of its new U.S. Assembly and Engineering Technical Center in Mesa, Arizona, in summer 2022, the company remains focused on achieving production goals. Looking ahead, it will be interesting to see if ElectraMeccanic reveals any new details at its upcoming ROTH Conference presentation. If SOLO stock is on your list keep mid-March. (3/13-3/15) in mind. That’s the timeframe of ROTH’s conference.

Lordstown Motors (NASDAQ: RIDE)

ev penny stocks to buy Lordstown Motors RIDE stock

Similar to Arrival, Lordstown ran into its own issues in the market over the last year. If you’re not familiar with this company, let’s get you on the right track. Lordstown is an electric vehicle company developing light-duty commercial fleet vehicles. Massive cash burn and an uncertain future with companies like Foxconn are a few of the hot buttons for the outlook of the company’s potential.

However, earlier this quarter, Foxconn helped clear up some speculation and outlined its expectations for an “exceptionally strong” first quarter. In particular, Foxconn Chairman Young Liu stated in an Electrek article, “Our self-developed electric bus will hit the road in Kaohsiung (southern Taiwan), electric pick-ups made in cooperation with Lordstown will begin shipping in the second half of this year.”

Recently, RIDE stock has seen a few glimpses of hope as a meme stock, sporadically moving on speculative trading thanks to social media hype. Overall, though, it remains trading on the lower end of its range for the last year.

However, EV hype and upcoming earnings appear to have recharged the electric vehicle company. In particular, this week, Lordstown announced it would release its next round of results before the market opens on February 28. The market will likely look for any news of upbeat production guidance. In its last financial update, the company discussed deliveries of its Endurance Commercial vehicle slated for Q3 of this year.

Romeo Power, Inc. (NYSE: RMO)

ev penny stocks to buy Romeo Power RMO stock

If you’re looking for low-priced EV stocks right now, the industry as a whole has helped. A sector-beat-down has resulted in many of the higher-priced electrification and electric vehicle companies coming under pressure over the last few months. Romeo Power hasn’t been immune to this trend. However, recent updates from the company and revitalized bullish sentiment (for now) have helped boost RMO stock in February.

Romeo Power offers electrification solutions for commercial vehicle applications. In a move to further expand its offerings, Romeo recently acquired a joint venture from BorgWarner. This original venture was entered into for the two to collaborate on developing a streamlined battery-electric platform for BorgWarner leveraging Romeo’s battery model platform.

“Now with the acquisition complete, Romeo Power has a much-enhanced ability to dictate its own operational and commercial future…We have a much wider potential market in which to grow our business in vehicle electrification and to pursue markets beyond that of traditional heavy-duty commercial vehicles. We also will be able to make a determination about entering new geographies to market our existing products and future leading technology when the time is right.”

Susan Brennan, Chief Executive Officer of Romeo Power.

Romeo Power has come back into the conversation with more commercial fleets taking up a hybrid or fully EV platform.

Are EV Penny Stocks On Your List Right Now?

The EV industry has been heavily influenced by speculation and industry catalysts. Whether the DeLorean news is a true catalyst right now is yet to be seen. But what we are observing is an overreaching bullish trend across numerous electric vehicle stocks today.

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Katherine E. Ackerman

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