The power of cash on balance sheet is what matters for EVs: 7 auto stocks with upside potential of up to 38%

Last week, a company announced the launch of an EV tractor. The reaction on the street, a 20 percent jump in stock price in a single trading session. The company in question has been in this space for decades but the launch of just one product in the EV space changed the whole perception and re-rated the stock. It is very likely over the next couple of quarters that large old companies in the automotive industry may see such possible re-ratings. All those who were thinking that EV space belongs to startups only and old companies which dominate the internal combustion engine (ICE) segment will not make it to EV space, probably would have to go and once again read the story of tortoise and rabbit and who finally won.