The electric vehicle boom is already here, which means you should be keeping an eye on EV stocks to buy.

According to the International Energy Agency, electric vehicle sales are on course to hit an all-time high this year. “The IEA has previously stated that electric vehicle sales hit 6.6 million in 2021. In the first quarter of 2022, EV sales came to 2 million, a 75% increase compared to the first three months of 2021,” said CNBC contributor Anmar Frangoul.

Ford (NYSE:F) just said EV sales were up about 197% year over year thanks to Mustang Mach-E growth. BMW (OTC:BMWYY) electric vehicle sales were up about 115% year over year.

“To build on its success, BMW is launching its first electric seven series, the BMW I7, in November, and the I5 will follow in 2023. In addition, the BMW Group unveiled the fully electric Rolls Royce Spectre in October, also set to release next year,” according to Electrek.co.

From here, numbers are only set to skyrocket, with global leaders wanting millions of EVs on the roads. For example, President Biden wants half of all new auto sales to be electric. We’re also now seeing a massive push to replace older school buses with electric models.

As demand accelerates, here are seven top EV stocks to trade during the boom.

Tesla (TSLA)

Tesla (NASDAQ:TSLA) appears to have gotten hit by a bus. Since September, the stock fell from about $310 to $200. All thanks to earnings that fell short of expectations.

For example, Tesla reported 343,000 total deliveries, which was below estimates for 364,660. Two, there were concerns Elon Musk’s involvement with Twitter would take away from his focus. However, this is Tesla one of the top EV stocks out there. The pullback is temporary, and it still commands a significant market share.

In addition, Wedbush analyst Dan Ives just said, “We view this more of a logistical speed bump rather than the start of a softer delivery trajectory into the [fourth quarter and 2023] and remain bullish on the Tesla story,” he said, as quoted by Barron’s.

Lion Electric (LEV)

Over the last few weeks, Lion Electric (NYSE:LEV) rallied from a low of about $2 to $4.28 on the news it’s rolling our zero-emission EV school buses.

That’s a big deal, especially after The White House announced a $1 billion award to U.S. school districts to replace older buses with electric models.

According to The White House, “The awards will go to school districts in all 50 states and Washington D.C., in addition to several U.S. territories and institutions serving federally recognized Tribes. The new awards will support the purchase of 2,463 buses, and 95% of these buses will be electric.”

Even better for Lion Electric, only about 1% of all school buses are all-electric as of 2021. As that ramps higher, Lion Electric could see a “lion’s share” of those investments.

Even earnings have been solid. In its second quarter, the company delivered 105 vehicles, as compared to 61 year-over-year. Revenue of $29.5 million, was up nicely from $16.7 million year over year. Net earnings came in at $37.5 million, as compared to a net loss of $178.5 million year over year, as well making this one of the EV stocks to definitely keep your eyes on.

Albemarle (ALB)

When it comes to EV stocks, it’s impossible to leave out lithium and related stocks, like Albemarle (NYSE:ALB). After all, lithium is one of the world’s most essential materials these days. Without it, there is no EV boom. There’s no green boom either.

With a severe supply-demand issue, lithium prices will soar. Automakers are scrambling for supply. Firms such as Trafigura Group say lithium demand “will hit 800,000 tons of lithium carbonate equivalent this year — overshooting supply by 140,000 tons — and sees demand rising by a further 200,000 to 250,000 tons annually through 2025,” as quoted by Mining.com.

That’s a goldmine opportunity for $32 billion Albemarle, which is developing lithium projects all over the world, including the U.S., Chile, Brazil, Germany, China, Japan, Taiwan and Australia.

Better, earnings and growth are off the charts for ALB. All thanks to lithium.

The company posted a net income of $897.2 million, or $7.61 per share. That’s comparable to a year-earlier net loss of $392.8 million, or $3.36 a share.

If we exclude one-time items, the company earned $7.50 a share, which still beat expectations for $6.99. Sales were up 152% to $2.09 billion, which was lower than estimates for $2.25 billion. For the full year, Albemarle raised the bottom end of its profit forecast to $3.3 billion from $3.2 billion.

Global X Autonomous & Electric Vehicles ETF (DRIV)

One of the best ways to diversify among EV stocks at less cost is with an exchange-traded fund, or ETF, such as the Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV).

With an expense ratio of 0.68%, this ETF invests in “companies involved in the development of autonomous vehicle technology, electric vehicles, and EV components and materials. This includes companies involved in the development of autonomous vehicle software and hardware, as well as companies that produce EVs, EV components such as lithium batteries, and critical EV materials such as lithium and cobalt,” as noted by Global X.

While the DRIV ETF was beaten down to $20.03 in recent weeks, give it time. With an accelerating EV story, I’d like to see this ETF closer to $50 over the next two years.

iShares Self-Driving EV and Tech ETF (IDRV)

Another ETF, the iShares Self-Driving EV and Tech ETF (NYSEARCA:IDRV), has an expense ratio of 0.47% and invests in growth and innovation in and around EVs.

According to iShares, this ETF offers access to companies at the forefront of self-driving and EV innovation as well as the battery technology space. It also offers exposure to global stocks within the full value chain of self-driving and EV industries.

The IDRV ETF is another one badly beaten up. Again, though, with the EV boom racing, and global demand gaining speed, I’d also like to see IDRV closer to $50 over the next two years.

Nio Inc. (NIO)

Nio (NYSE:NIO) dropped from $23 to less than $10 before bouncing back above $11.

Tesla recently cut prices for its vehicles in China, which led investors to question just how strong EV demand is in the country.

Chinese stocks were beaten up on news President Xi Jinping won a third term. There have also been issues regarding China’s zero COVID policy. October deliveries, while up 174.3% year over year, were down from September deliveries of 10,878.

However, weakness may be a buying opportunity here. Not only has NIO become one of the most hated stocks on the market, but it also appears to have priced in a good deal of negativity.

It’s also still expanding into the German, Dutch, Danish and Swedish EV markets. Also, as noted in its second-quarter earnings report, the company said it is “confident that our delivery targets for the whole year,” and that, “we are confident to achieve the record-breaking target for the fourth quarter, and we have been making active preparations to meet this target as well.”

With NIO, I believe the crisis will lead to opportunity.

General Motors (GM)

General Motors (NYSE:GM) has now captured more than 8% of U.S. electric vehicles sales, said CEO Mary Barra in a shareholder letter.

In fact, she said the company, “earned more than 8% of the U.S. electric vehicle market in the third quarter thanks to record sales of the Chevrolet Bolt EV and Bolt EUV.”

Thanks to that strong demand, the CEO also said GM intends to increase production to a combined 70,000, up from about 44,000.

Better, the company has been introducing newer models, including the Chevrolet Equinox EV, the GMC Sierra EV, the Chevrolet Silverado EV, and the Blazer EV. Plus, GM managed to post better-than-expected earnings. EPS of $2.25 beat estimates of $1.99. Sales were up 56% year over year to $41.9 billion.

Again, with EV demand only accelerating, and GM capturing even more market share, the stock could easily see higher highs.

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