#5 - Honda Motor (NYSE:HMC)
I’ll admit that Honda Motor (NYSE:HMC) has not come up on my list of electric vehicle (EV) stocks I’ve written about. That’s because the company isn’t planning on pivoting away from hybrid vehicles anytime soon. Honda says it is still pushing to have a 100% electrified fleet by 2040. But in this case, “electrified” does not distinguish between all-electric and hybrid models.
However, the company made some recent announcements that outline the company’s plans to compete in the EV space. One of those will be a focus on solid-state batteries. That will be part of the $40 billion the company is investing over the next decade in an effort to deliver 30 battery-electric vehicles (BEVs).
Honda will be attempting to thread a needle with many manufacturers committed to exclusively producing BEVs. But if Honda is correct in its assertion that hybrids may still rule the market for some time, than HMC stock, which currently trades at a P/E ratio of just 7.75, may look like a bargain.
About Honda Motor
Honda Motor Co, Ltd. develops, manufactures, and distributes motorcycles, automobiles, power, and other products in Japan, North America, Europe, Asia, and internationally. It operates through four segments: Motorcycle Business, Automobile Business, Financial Services Business, and Power Product and Other Businesses.
Read More - Current Price
- $26.66
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
