Business & Investment

Did you miss the purchase of Tesla shares? Two top TSXEV stocks that will be super rich in 2021

Tesla (NASDAQ: TSLA) It is one of the most talked about companies last year. Its inventories surged about 740% in 2020.Electric vehicle (EV) manufacturers S & P500 In December, it is reported that nearly 500,000 cars were produced annually.

Tesla’s success

Prior to last year’s large rally, Tesla continued to face strong criticism from bears about its implementation issues. Many analysts have criticized CEO Elon Musk for being overly optimistic and unrealistic about the company’s future, especially when making predictions and guidance. Nevertheless, Tesla somehow survived these difficult times. The company has made profitable profits for the past five consecutive quarters and has silenced most bears.

The company is about to announce its fourth quarter earnings on Wednesday. Analysts expect to report adjusted net income of $ 1.01 per share. More than double the earnings per share of $ 0.41 in the year-ago quarter.

You may have missed an investment in Tesla stock at the right time, but here are two great things TSX Stocks you can still buy Become super rich..

Magna International

Magna International (TSX: MG)(NYSE: MGA) Aurora-based mobility technology company. The company accounts for most of the revenue to automakers from the exterior and structure of the car body. In 2019, 42% of revenue came from this segment. However, the company is dramatically changing its business strategy by focusing on EVs, vehicle safety, smart mobility technology and self-driving cars.

A few years ago, Magna International acquired the German software company Haptronik GmbH, accelerating its efforts in the vehicle automation segment. Also, Innoviz Technologies LIDAR sensor manufacturing BMW car.Recently Magna Joined hands With Korean tech giants LG Electronics For manufacturing electronic motors, inverters, and other parts for electric vehicles.

With increasing attention to new technologies and electric vehicles, Magna International hopes to be at the forefront of the revolution in electric and self-driving cars. That’s why I think it’s one of the best Canadian stocks to buy right now.

Lithium America

Batteries are one of the most important and expensive components of electric vehicles. Tesla may not have been as successful as it is today if Musk did not decide to build the Gigafactory. This has allowed the company to significantly reduce the cost of lithium-ion batteries. Gigafactory has allowed Tesla to lower car prices, but many other car makers continue to struggle to increase EV profitability.

The demand for electric vehicles will certainly increase the demand for lithium. This is exactly where my next TSX stock will choose — Lithium America (TSX: LAC)(NYSE: LAC) -focus. The company is currently developing two lithium projects. The first project is in Jujuy, Argentina, and the second project is in Nevada, USA.

Lithium Americas is primarily focused on serving key automotive markets such as the United States, Germany, Argentina and Canada. Interestingly, the $ 2.6 billion stake in this small company surged by more than 1,300%. Lithium Americas will obtain all the permits required to complete the lithium development project in 2021.

Inventory is expected to skyrocket as the company approaches the completion of a large lithium development project.

Final idea

These two great TSX stocks, Magna International and Lithium Americas, could guide ways to increase savings if acted today. Tesla’s success will only make these two companies even more successful in the future by increasing the demand for EV-related products.

2021 could be the best time to invest in such a growing company, as COVID-19 gradually subsides and the company returns to normal.

David Gardner I own a stake in Tesla. Tom Gardner I own a stake in Tesla. Motley Fool owns and recommends a stake in Tesla. Motley Fool recommends Magna Int’l. Stupid contributor Jitendra Parashar There are no positions in any of the listed stocks.

Did you miss the purchase of Tesla shares? Two top TSXEV stocks that will be super rich in 2021 Did you miss the purchase of Tesla shares? Two top TSXEV stocks that will be super rich in 2021

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