As electric vehicle sales continue to surge, it’s clear that this is a space that’s ripe for long-term growth. However, many investors may be dissuaded from investing in the sector, who believe that Tesla (NASDAQ:TSLA) has already provided all the growth there is. Most other EV stocks simply won’t make it.

I agree that the future EV market is likely to look more like the world of big auto today. Many small startups will fail or will lack the capital to survive. Others will get acquired by the competition. And, of course, there will be a handful of big winners in this sector.

Here are three EV stocks that aren’t named Tesla I think could power investor portfolios for the next five years.

Nio (NIO)

Chinese electric vehicle manufacturer Nio (NYSE:NIO) experienced significant success during the pandemic but faced lockdown-related setbacks and supply chain challenges. The result was a decline in growth. 

While Nio achieved triple-digit returns and substantial revenue growth during the pandemic, this momentum needed to be improved.

Nio is making efforts to make a name for itself in the crowded EV industry, and aims to expand its reach both within China and overseas. The business is also looking into ways to broaden its business. 

However, investors interested in buying NIO stock have clearly exercised caution when evaluating the company’s expansion strategies. That’s largely because of the company’s own projections around its revenue forecast, which have declined, leading to a lower price-sales ratio. 

Now, I think this lower multiple is worth buying into, because the company’s fundamental growth trajectory remains strong.

As one of the largest pure-play EV stocks in China, I think the company’s home-grown status could allow for leeway with regulatory government forces.

Thus, if this sector needs an intervention, Nio is likely to be one of the first Chinese companies to see support from Xi’s regime, as the country looks to improve its economic outlook moving forward.

Polestar (PSNY)

Polestar (NASDAQ:PSNY) is a Swedish EV maker, as well as a subsidiary of the Chinese automotive group Geely. The company specializes in luxury vehicles.

 Polestar revealed the Polestar 4 at an auto show in Shanghai, incorporating features from their concept cars. A battery-powered vehicle can reach 60 mph from zero in under four seconds. 

To supply 43,000 units the following year, the organization intends to begin manufacturing shortly.

During the Shanghai auto show, Polestar CEO Thomas Ingenlath announced that pre-orders for the Polestar 4 will be open in China starting today. Other markets will have the same opportunity by 2024.

Shares of PSNY stock have been on a downward trend this year, but have recovered in recent weeks. If the company achieves its goals of producing 80,000 automobiles in 2023, I think the it could get back on track.

This target, sixty percent greater than last year’s total, would be indicative of substantial growth. Thus, I think the company’s upcoming earnings report on May 11 should provide some fireworks. Still, this stock is likely to trend higher on any positive news moving forward.

General Motors (GM)

General Motors (NYSE:GM) is a prominent automotive brand with significant importance. Its shift towards electric vehicles is a promising long-term strategy that adds to its appeal.

In contrast to blue-chip stocks, GM’s stock is cheap and maintains an inadequate ratio considering its advancement. In 2021, GM stock declined by 16%, but the company’s future looks promising and has the potential to rebound.

The upcoming GM earnings report should be released on Apr. 25 before the market opens. Zacks estimates earnings and sales to be $1.58 per share and $38.54 billion.

General Motors intends to invest $35 billion by 2025 to develop autonomous and electric vehicles. The automaker has already launched EV models in the U.S. and China, and it plans to introduce more models, such as a Hummer EV and a full-size pickup truck.

General Motors is anticipated to become among the top companies in the market for electric vehicles, although it has yet to enter the sector early.

On the date of publication, Chris MacDonald 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.