Big Investor Bought Tesla, Plug Power, Nikola, and XPeng Stock

A large asset manager recently increased bets on the electric-vehicle industry with changes in its U.S.-traded stock investments.

In the third quarter, DNB Asset Management increased investments in EV giant Tesla (ticker: TSLA), and tripled holdings in Plug Power (PLUG), a maker of fuel cells that run on hydrogen. It also initiated positions in embattled electric and hydrogen trucking firm Nikola (NKLA) and Chinese EV maker XPeng (XPEV). The bets appear to be mostly paying off, as three of the shares are comfortably ahead…

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