3 Beaten-Down EV Supplier Stocks to Avoid This Fall.

Despite overwhelming demand, electric vehicle (EV) suppliers have witnessed significant setbacks amid global chip supply bottlenecks. Moreover, EV charging equipment shortages have also been a significant challenge.

Brent Gruber, executive director of global automotive at J.D. Power, said, “Not only is the availability of public charging still an obstacle, but EV owners continue to be faced with charging station equipment that is inoperable.”

In addition, the escalating China-Taiwan conflict might lead to a worsening global chip shortage – a basic requirement for EVs. Taiwan is a major exporter of chips, and an impending war might trigger a neck-deep chip shortage globally.

Given the backdrop, beaten-down and fundamentally weak EV supplier stocks Wolfspeed, Inc. $Wolfspeed (WOLF.US)$ , Luminar Technologies, Inc. $Luminar Technologies (LAZR.US)$ , and EVgo, Inc. $EVgo Inc (EVGO.US)$ might be best avoided this fall.