There was a time when it seemed investors couldn’t get enough of electric vehicle stocks. In their euphoria, they bid up shares of established players all the way down to pre-revenue startups to unsustainable heights. Then the bubble burst and EV stocks came crashing down. Amid concerns about demand destruction, range anxiety and the viability of the industry’s business model, I’d bet more investors are focused on EV stocks to sell than buy.

It’s important to keep in mind that the EV industry is still in its infancy and that the long-term outlook remains positive. The headwinds electric vehicle companies currently face will likely be resolved over time. However, in the short run, EV stocks are at risk of underperforming the market.

Below are three EV stocks to sell, as well as one name that’s perfect for those looking for bullish exposure to the sector.

Workhorse (WKHS)

Shares of electric delivery van maker Workhorse Group (NASDAQ:WKHS) are down 40% year to date and 94% since hitting their all-time high in February 2021. Ouch.

The company has not been able to consistently produce a profit or even revenue over the past few years. And analysts are calling for it to generate a mere $17.6 million in sales this year. While the market for electric delivery vans is forecast to grow at nearly 22% a year, Workhorse still has much to prove.

Prior to the company’s third-quarter earnings report, Workhorse was forecasting that it would produce 150 to 250 vehicles by the end of 2022. When it reported Q3 results earlier this month, management reduced that estimate to 100 to 200 vehicles. And while its loss narrowed for the quarter, it was still much bigger than analysts were anticipating at 22 cents per share versus an estimated 12-cent loss.

As the company looks to ramp up production, which comes with myriad risks, investors should watch from the sidelines. If Workhorse fails to execute, it may be unable to build an EV delivery fleet and be left with no other option but to tap into the equity markets at a depressed valuation. And if you happen to own WKHS, put it on your list of EV stocks to sell.

Hyzon Motors (HYZN)

Hyzon Motors (NASDAQ:HYZN) is a global supplier of commercial vehicles powered by hydrogen fuel cells. The company offers a range of heavy-duty trucks, buses and coaches designed to run on clean, renewable energy. Shares are down 74% year to date and 91% since hitting their all-time high in February 2021.

The company has been embroiled in controversy since September 2021, when a professional short-selling outfit leveled some serious allegations against the firm. These included inflated revenue projections and faking customers and orders. Hyzon denied the allegations, but the Securities and Exchange Commission decided to investigate anyway. And as Seeking Alpha’s Henrik Alex noted in August, “Disclosures made in a new SEC filing now lend a lot of credibility to those reports.”

Furthermore, a recent SEC filing showed the company’s board has retained third-party consultants to assist with the reassessment of its global strategies and operations. This means Hyzon is essentially starting from scratch, which is not ideal for investors and makes it harder to place a firm value on the business. As a result, HYZN stock is likely to remain volatile for the foreseeable future.

ElectraMeccanica Vehicles (SOLO)

ElectraMeccanica Vehicles (NASDAQ:SOLO) is a Canadian manufacturer of a three-wheeled, single-seat electric vehicle called the SOLO. The unique vehicle has a range of up to 100 miles on a single charge and costs just $18,500, making it much more affordable than most of the other EVs on the market. The problem is it’s strange looking. Without significant demand for the SOLO, ElectraMeccanica is unlikely to see sustained long-term growth.

Investors certainly don’t seem optimistic about the company’s prospects. Shares are down 46% year to date and 91% from their all-time high, made in November 2020.

On Nov. 14, ElectraMeccanica reported its third-quarter results, booking a loss of 18 cents per share on $1.44 million in revenue. Both numbers were worse than analysts were predicting. Further, the company produced just 103 vehicles during the quarter, down from the 193 they produced the prior quarter. Management blamed the production decline on China’s zero-Covid policy.

While ElectraMeccanica’s SOLO offers an innovative solution to urban transportation, the company has yet to prove its merit. Stay away.

One EV Stock To Buy: Albemarle (ALB)

Now that we’ve discussed EV stocks to sell, I have one bullish play for those who want long exposure to the sector. While not a pure EV play, U.S.-based chemical company Albemarle (NYSE:ALB) may just end up being the EV revolution’s biggest winner.

Albemarle is one of the world’s largest lithium producers. Lithium, of course, is a critical component in EV batteries. The company also produces a range of specialty chemicals for use in various industries.

Earlier this month, Albemarle reported stellar Q3 results thanks to surging lithium prices and demand. Among the highlights were a 152% year-over-year increase in net sales, a 614% jump in adjusted earnings and a 447% increase in adjusted EBITDA. How do you like them apples?

ALB stock is up more than 20% on the year despite the broader bear market. But with the EV revolution underway, shares have room to run much, much higher from here.

On the publication date, Faizan Farooque 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.