These 2 EV Stocks Are Getting No Love Right Now, and That's a Buying Opportunity

By Ryan Vanzo – Apr 11, 2026 at 10:55AM ESTKey PointsMany EV stocks are down big this year.Advances in AI will soon generate meaningful growth tailwinds.Artificial intelligence (AI) is already having meaningful impacts across a wide variety of sectors and end markets. Few industries will be as transformed by AI as transportation. That's because, after decades of failed promises, AI is now making truly autonomous vehicles possible for the first time. The market potential of autonomous vehicles is truly massive. One segment of this market alone could be worth up to $10 trillion globally. And there are two electric vehicle (EV) stocks in particular poised to benefit despite their shrinking valuations so far this year. ExpandNASDAQ: RIVNRivian AutomotiveToday's Change(1.25%) $0.19Current Price$15.43Key Data PointsMarket Cap$19BDay's Range$15.30 - $15.8752wk Range$10.85 - $22.69Volume484KAvg Vol29MGross Margin-276.59% 1. Rivian is my top growth stock for 2026 Early this year, I named Rivian (RIVN +1.25%) my top growth stock for 2026. The thesis was simple. Shares currently trade at just 3.4 times sales, with a market cap under $20 billion. But the company's first model priced under $50,000 -- its R2 SUV -- is expected to begin deliveries to employees this month, with scaled production and deliveries expected over the next few quarters. The potential for Rivian from this one move should not be understated. Tesla (TSLA +0.91%) provides the clearest example of how transformational the first affordable model can be for an EV stock. Today, more than 95% of the company's auto sales volumes stem from just two models: the Model 3 and Model Y. Both have base prices under $50,000. Scaling EV production is hard. Tesla almost went bankrupt trying to scale its Model 3 production. "The Model 3 ramp was extreme stress and pain for a long time -- from mid-2017 to mid-2019. Production and logistics hell," Elon Musk once said. "There were times when I didn't leave the factory for three or four days -- days when I didn't go outside." Expect Rivian to endure plenty of bumps along the way. But Tesla's $1 trillion valuation was made possible by scaling production of its first affordable models. This year, Rivian is replicating this blueprint for growth. Image source: Getty Images. 2. Expect Tesla to dominate the robotaxi market I like Rivian stock because, despite its growth potential, shares remain cheap, with a total market cap still under $20 billion. Tesla's $1.1 trillion leaves far less absolute growth potential. But I expect the company to be a clear leader in the global robotaxi market. There are two primary reasons to expect Tesla to execute on its robotaxi vision. First, its $1 trillion valuation allows it to invest more aggressively than any other automaker. Already, the company has invested $2 billion in Musk's AI start-up, xAI. And its capex vision calls for a sizable increase in AI investments, which should prove critical for achieving fully autonomous vehicles. ExpandNASDAQ: TSLATeslaToday's Change(0.91%) $3.14Current Price$348.76Key Data PointsMarket Cap$1.3TDay's Range$342.74 - $350.3452wk Range$222.79 - $498.83Volume2.6MAvg Vol62MGross Margin18.03% Second, Tesla has already scaled its vehicle production infrastructure through its consumer sales. Unlike potential big tech competitors -- which largely lack the means to produce vehicles -- Tesla has a huge leg up in deploying millions of self-driving vehicles. And because the AI models that are helping make self-driving vehicles a reality need massive amounts of data to operate accurately, this ability to scale production quickly and with minimal outside support should not be underestimated. There is clearly a lot of hype priced into Tesla's stock price right now. Auto sales have been declining for years, meaning the valuation is largely tied up in expectations. Still, shares are down nearly 20% since 2026. And Tesla's ability to capitalize on the self-driving revolution is arguably greater than any other company's. So if you're looking to invest in a company with the greatest chance of succeeding, Tesla stock still offers compelling value after the recent correction.Read NextApr 10, 2026 •By Courtney CarlsenThe Clock May Be Ticking on Rivian Under $16. Is Now the Time to Buy?Apr 10, 2026 •By Ryan VanzoWall Street Is Sleeping on This Artificial Intelligence (AI) Stock, and That's Your OpportunityApr 9, 2026 •By Leo SunRivian Reports Soon. Here's Why I'd Buy Before the Numbers Drop.Apr 9, 2026 •By Ryan VanzoDon't Wait for Earnings to Buy Rivian. Here's Why the Time Is Now.Apr 9, 2026 •By Prosper Junior BakinyIs Rivian The Next Tesla?Apr 8, 2026 •By Ryan Vanzo2 Monster EV Stocks Worth Owning While the Sector Is Still Out of FavorAbout the AuthorRyan Vanzo is a contributing Motley Fool stock market analyst, covering a range of stocks and market sectors. Ryan previously worked for multiple mutual funds conducting fundamental research. He holds a degree in finance and accounting from Bentley University and has had a strong interest in financial markets since childhood.TMFRyanVanzoStocks MentionedRivian AutomotiveNASDAQ: RIVN$15.43(+1.25%)+$0.19TeslaNASDAQ: TSLA$348.76(+0.91%)+$3.14*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.