3 Undervalued EV Stocks to Consider in September: BYD, QuantumScape, and EVgo

Three underappreciated EV stocks to buy in September are BYD (BYDDY), QuantumScape (QS), and EVgo (EVGO). BYD, China's top automaker, has grown its annual vehicle sales tenfold from 2020 to 2024 and has a vertically integrated business model that controls production costs. Analysts expect BYD's revenue and adjusted EBITDA to grow at a CAGR of 15% and 11%, respectively, from 2024 to 2027. QuantumScape develops solid-state lithium metal batteries, which are denser, safer, and more resilient than lithium ion batteries, and EVgo is a leading EV charging network operator.

As the electric vehicle (EV) market continues to grow, several underappreciated stocks are gaining attention among investors. Three notable companies in the EV sector are BYD (BYDDY), QuantumScape (QS), and EVgo (EVGO). Each of these companies offers unique value propositions that make them compelling investment opportunities.

BYD (BYDDY)

BYD, a Chinese automaker, has seen remarkable growth in its annual vehicle sales, increasing tenfold from 2020 to 2024. The company's vertically integrated business model helps control production costs, making it a competitive player in the EV market. Analysts project that BYD's revenue and adjusted EBITDA will grow at a compound annual growth rate (CAGR) of 15% and 11%, respectively, from 2024 to 2027 QuantumScape stock soars on Ducati demo: here’s why QS surge may not sustain^[1].

QuantumScape (QS)

QuantumScape Corp (NYSE: QS) is a solid-state lithium-metal battery developer that has recently gained traction with investors. In September 2025, the company showcased its QSE-5 battery cells powering a modified Ducati V21L race motorcycle at the IAA Mobility in Munich. This demonstration marked the first time an anode-free solid-state battery was used in a real-world electric vehicle, validating years of research and development Pilot General Motors and EVgo Open Over 200 Fast Charging Locations to Power Nationwide EV Travel^[2].

While the Ducati demo was a significant milestone, QuantumScape remains a high-risk investment. The company is pre-revenue and burning cash without a clear timeline for profitability. Its valuation reflects the long road ahead in scaling production, securing original equipment manufacturer (OEM) contracts, and navigating regulatory hurdles. However, the company's collaboration with Volkswagen's battery unit PowerCo and Ducati provides a credible path to commercializing its technology Pilot General Motors and EVgo Open Over 200 Fast Charging Locations to Power Nationwide EV Travel^[2].

EVgo (EVGO)

EVgo Inc. (NASDAQ: EVGO) is a leading EV charging network operator. The company, in collaboration with Pilot Company and General Motors (NYSE: GM), has expanded its fast-charging network to more than 200 locations across nearly 40 states. This network enables drivers to travel coast-to-coast with 24/7 access to high-power chargers and industry-leading amenities .

The expansion of EVgo's network is crucial for the growth of the EV market, as it addresses the charging infrastructure gap that has traditionally limited EV adoption. By investing in critical charging infrastructure along essential travel routes, EVgo is making electric vehicles more accessible and convenient for drivers.

Conclusion

Investors looking to capitalize on the growing EV market should consider BYD, QuantumScape, and EVgo as underappreciated stocks to watch in September. Each company offers unique value propositions and growth opportunities, making them compelling investment options. However, it is essential to conduct thorough due diligence and consider the risks associated with each company before making investment decisions.