We all have seen massive growth in electric vehicles in 2021 and in 2022. This impressive shift towards EVs has continued this year, and appears to be here to stay. For investors looking for growth areas of the market to invest in, there are plenty to consider. From EV manufacturers to battery producers, each should benefit from strong secular growth trends, including the adoption of EVs. Thus, investors who see EVs as the future of the automobile industry should consider a few EV stocks to own right now. 

The foundation of trust in the EV sector has been laid by the Biden administration, but not all EV makers are here for the long haul. Indeed, recent supply chain hiccups put pressure on several manufacturers, leading to disappointed investors.

However, the future of electric vehicles looks as bright as ever. This means if you are ready to take a position in EV stocks today, you could enjoy massive returns over time. I think EVs will soon become hot property, and we could see the companies reporting impressive delivery numbers again.

With that said, here are the three EV stocks to own in 2023. 

Nio (NIO)

At the top of my list of EV stocks to own is Nio (NYSE:NIO). The company has struggled recently, but has held its head high despite significant supply chain issues and lockdowns in China. The Chinese EV giant has consistently reported strong delivery numbers, providing proof that there is solid demand for its cars in its domestic market. NIO stock has seen its lowest level this year, but I think it will certainly make a strong comeback soon.

The stock has declined since February 2021 and is trading at $11.80 today. In December, the company recorded over 15,000 vehicle deliveries, which represented 50.8% growth for the year. In 2022, it delivered 122,486 vehicles, a solid 34% increase from the previous year. Based on these delivery numbers, one can conclude that Nio is moving in the right direction, and it has a strong market to cater to.

The growing awareness for EVs across the world can create more success for the company in 2023. Nio’s global presence will add to its sales and revenue in the coming years, leading to what I think will be a bounce back in NIO stock on the horizon.

General Motors (GM)

A well-known name in the automobile industry, General Motors (NYSE:GM) benefits from an already-loyal customer base. The company has committed to the electrification of its entire lineup over the next five years, and has started making the right moves to achieve this goal. GM is committed to a better and greener tomorrow, and is making the most of the transition toward electric vehicles. Currently, GM stock is trading around the $36 level, which happens to be close to its 52-week low of $30.

The company’s earnings growth is proof of its financial health. In its recent quarter, General Motors reported revenue of $41.89 billion, which is 56% higher on a year-over-year basis. Notably, the company’s trucks and SUVs reported lower sales but higher profits. That’s good for investors betting on the fundamental story with GM stock. 

Having sold 2.2 million vehicles in 2022, General Motors already holds one of the top positions in the automobile industry. Investing in GM stock will certainly pay off for investors over the long-run. This is evidenced by a recent note published by Goldman Sachs (NYSE:GS) analyst Mark Delaney, who has a buy rating on GM stock with a price target of $42.

Ford (F)

Ford (NYSE:F) is another traditional automaker in the industry with an impressive portfolio of EVs. The company is expected to deliver 600,000 cars by the end of this year, and also expects to have close to 50% of its global vehicle sales be EVs by the end of 2030. The company has a strong balance sheet and enough liquidity to invest in research and development – a key issue for many early-stage companies entering EV production.

Ford reported impressive truck sales in December, with 101,649 units shipped. This represents 10.9% year-over-year growth, despite SUV sales which came in light at 73,759 units (down 4.7%). That said, the company’s EV division was a bright spot, with 222% growth year-over-year. While this segment only accounted for 7,823 vehicles, this is the sort of notable growth investors are looking for reight now.

The incumbent automaker is slowly but steadily increasing its share in the EV space, moving quickly in electrifying its fleet. Trading at around $12 at the time of writing, F stock is now trading at a more than 50% discount to its 52-week high of roughly $25. Thus, for those seeking value in this sector, Ford is an overlooked EV stock to own right now. 

On the date of publication, Vandita Jadeja 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.