Electric vehicles (EVs) are here and quickly taking over the automotive industry. Almost all of the major automakers have gone all-in on EVs, making massive multi-billion dollar investments to electrify their fleets between now and 2030. This represents the most seismic change in the auto industry’s 120-year history. And it presents a huge opportunity for investors. Many of the biggest growth stocks now available are of electric vehicle companies and traditional automakers that are going electric. And many of their share prices have been knocked lower in this year’s market rout. As a result, now is the best time to buy these three long-term EV stocks.

Long-Term EV Stocks: Volkswagen (VLKAF)

German automotive giant Volkswagen (OTC:VLKAF) doesn’t get as much attention in the U.S. as it does in Europe. But the company, whose brands include Audi, Bentley, Porsche and Lamborghini, is pushing just as aggressively into electric vehicles as either General Motors (NYSE:GM) or Ford (NYSE:F). In fact, Volkswagen has announced that it will spend a massive $180 billion to ensure that 25% of all the vehicles its sells globally are electric by 2026. Currently, only about 5% of VW’s global sales are EVs.

Its huge investment in EVs includes $60 billion that it will spend on the development and improvement of the batteries used to power electric vehicles. The money is all aimed at helping Volkswagen catch up to global EV leader Tesla (NASDAQ:TSLA) by the year 2030.

While it has a long way to go, Volkswagen has the resources, talent, and knowledge to make the switch from gasoline-powered to EVs. The company also has some added political incentive as most governments in Europe have passed legislation banning gasoline-powered vehicles by 2035.

So far this year, Volkswagen’s stock is down 42%.

Ford Motor Co. (F)

Ford (NYSE:F) is pulling out all the stops in its pivot to electric vehicles. The legendary Detroit-based automaker is spending more than $50 billion to convert iconic vehicles such as the F-150 pick-up truck and Mustang muscle car to EVs.

Ford has a goal to build more than two million electric vehicles in 2026, representing about one-third of its global production. By 2030, EVs are expected to comprise 50% of Ford’s total sales. Like Volkswagen, Ford is also investing heavily in battery development, as it’s building two new battery factories in Kentucky.

Additionally, Ford has broken ground on a $5.6 billion electric vehicle manufacturing complex in western Tennessee that it is calling “BlueOval City.” When it’s completed in 2025, the complex will be the largest factory in Ford’s history. As many as 6,000 workers are expected to be located at BlueOval City, where they will manufacture electric pick-up trucks and the batteries that power them. As with Volkswagen, Ford has a goal to catch and eventually surpass market leader Tesla (NASDAQ:TSLA).

In 2022, F stock is down 42%, and the shares are now trading at $12.13 a share.

Tesla (TSLA)

Tesla remains the global electric-vehicle king. And while competitors such as Volkswagen and Ford are hot on its heels, Tesla continues to retain a commanding lead over all other automakers when it comes to the manufacturing and sale of EVs. The company’s total electric-vehicle production for the recently completed third quarter amounted to 365,000, which was far ahead of any other automaker.

For all of last year, Tesla produced just shy of one million (930,422) electric vehicles, a new record for the company. This year, Tesla is on track to make more than 1.5 million EVs.

Tesla is increasingly a global company, having opened a new manufacturing facility outside Berlin, Germany this year and expanded its existing manufacturing hub in Shanghai, China.

And the company continues to refine and improve the batteries its vehicles use as it drives towards CEO Elon Musk’s goal of selling 20 million Tesla EVs a year by 2030. If there’s one potential pitfall for Tesla, it is distraction. Whether it be Musk’s public battle over Twitter (NYSE:TWTR) or the company’s foray into humanoid robots, Tesla is often managing things other than EVs. If the company can keep its eyes on the road ahead, though, it should be just fine.

TSLA stock is down 35% this year and trading at $230 per share. The stock split on a 3-for-1 basis in August of this year.

On the date of publication, Joel Baglole held a long position in GM. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.