This year has been a relatively terrible one for the overall electronic vehicle sector, including under-the-radar EV stocks. With the Nasdaq dropping approximately 30% on a year-to-date basis alone, most EV stocks haven’t been spared from the carnage.

Tech stocks, in general, have plummeted as higher interest rates bleed through to valuations. Among the highest-flying tech stocks in the market have been electric vehicle manufacturers, many of whom have held valuations orders of magnitudes higher than traditional automakers.

Why?

Well, there’s an argument to be made that software sales could boost these companies’ margins over the longer term. There are also higher overall growth rates expected as the world transitions toward an electrified future. Accordingly, old internal combustion engine (or ICE) manufacturers are the horses of old, and EV stocks are the new automobiles on the block.

It’s a simple thesis to understand. However, at some point, too much in the way of exuberance can be priced into any stock. Some could argue that this sector has seen valuations grow to untenable levels. Hence, this selloff may be necessary to support the next wave of growth higher.

For those still bullish on the long-term growth trajectory of this sector, here are three under-the-radar EV stocks I think are worth looking at right now.

Polestar (PSNY)

Among the under-the-radar EV stocks with a unique market position relative to their peers, Polestar (NASDAQ:PSNY) is one company that really intrigues me.

This Sweden-based EV maker started production in 2020, and since then, it has grown significantly. During the first half of 2022, Polestar doubled its production compared to the previous year.

That said, Polestar hasn’t necessarily lived up to expectations on the production side. Initially, the company planned to increase production by 65,000 units over 2022, which was later reduced to 50,000. The company explained this decrease was due to lockdowns in China.

The company delivered around 21,200 Polestar 2 vehicles in the first half of 2022. This is around 125% more than 2021’s first half. Polestar plans to maintain this momentum by launching new models annually between 2023 and 2026. Moreover, the company is now taking reservations for Polestar 6.

Polestar is a great long-term bet for those considering the various opportunities for EV development in the global arena. Further, this stock looks immensely attractive, with a 91.2% upside potential, according to analysts. The average analyst rating on PSNY stock sits at hold, but this is a stock I think is starting to look more like a buy. At least in my books.

Lucid (LCID)

One of the luxury under-the-radar EV stocks I think is worth looking at in this environment is Lucid (NASDAQ:LCID).

This high-priced EV automaker is one company many believe operates in direct competition with Tesla (NASDAQ:TSLA). Some of this sentiment can be because several former executives of Tesla currently head Lucid. Lucid’s vehicle lineup also challenges Tesla’s higher-end Model S and Plaid models, which tend to cost a pretty penny (to say the least).

Lucid appears to have the product line that ticks most boxes for those seeking top performance. The company offers a range of models, with a base model, range edition, and performance edition, each tailored to the consumer’s individual desires. On nearly every metric (range, acceleration, top speed), Lucid’s model lineup beats Tesla and every competitor in these categories.

Interestingly, the company produces some of the most gorgeous-looking electric vehicles and features around $3.5 billion as a potential sale from prior reservations. This looks promising, considering LCID cut its production estimate for 2022 by 13,000 to 6,500. Like Polestar, Lucid blames supply chain issues for this reduction.

Over the long term, investors looking to target an EV stock with the potential to dominate the higher-end market in this space may want to look at Lucid right now.

Ford (F)

Ford (NYSE:F) is one of the often-underlooked leaders among top under-the-radar EV stocks.

This “traditional” automaker is known for its ICE vehicles, focusing on its pickup trucks. With a marked shift toward designing and manufacturing new EV options for its lineup, Ford could become the “everyday” alternative to existing EV makers, putting this stock in a mass market niche of its own.

There’s a lack of everyday options for middle-class EV buyers right now. Tesla certainly holds the vast majority of the market share in this sector right now. But with most base models costing at least $50,000 (for an off-the-lot price, including taxes and delivery charges, never mind other upgrade packages such as FSD and performance upgrades), the blue-collar guy has a hard time justifying such a premium purchase.

Ford’s goal is to become the mass market leader in this space. The company has announced billions in spending on its EV division, with its Ford F-150 Lighting, Mustang Mach-E, and other models headlining its production shift. Over time, I think Ford could continue to pick up market share, making this a value-based pick at this present time.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.