These EV stocks could knock Tesla off its perch as the most dominant EV company.

BYD Company(BYDDF): Triple-digit growth in sales and earnings is an incredible feat in the current economic climate.

Li Auto(LI): Should reach profitability much quicker than its peers.

FordMotor(F): Underrated EV stock that’s witnessing massive growth in sales for its all-electric lineup.

Lucid Group(LCID): Reservation numbers continue to climb at a healthy pace, a testament to its long-term case.

ChargePoint(CHPT): Massive market share in the EV charging infrastructure space, which should continue to grow at a breathtaking pace for the foreseeable future.

Mullen Automotive(MULN): The unique proposition of EVs with solid-state batteries makes Mullen an incredible speculative bet.

Nio(NIO): Trading at a dirt cheap valuation with an incredible growth runway ahead once the headwinds clear out.

Source: VanderWolf Images / Shutterstock.com

Tesla has been a clear leader in the space but has operated mainly without competition. However, in the past few years, we have seen multiple EV stocks emerge, which have the potential to perform better than the EV pioneer. In fact, John Murphy, a Bank of America analyst, had forecasted thatTesla’s EV market sharecould drop from a massive 70% in 2021 to just 11% within the next four years by 2025.

2022 has been a horrendous year for growth stocks. The Nasdaq is languishing in the bear-market territory, and most of the tech and growth names over the past several years have been hit incredibly hard. EV stocks seem to be no exception, as the entire sector has lagged, and investors have rotated out of growth names into value stocks.