InvestorPlace - Stock Market News, Stock Advice & Trading Tips The EV industry has seen slowed growth in the recent past as the rise in inflation, financial costs and increased consumer skepticism reduce demand and slow down sales growth. Many new industry entrants have also faced insurmountable challenges, with excessive cost overruns, failure to meet targets, and stiff competition making it difficult to break even. Even with these challenges, the EV industry continues to grow, with data indicating that EV sales in the US increased by 47%. A report by the International Energy Agency also indicates that since 2019, EV stocks have consistently outperformed general stock markets, including traditional car makers. With this industry growth, there are a few undiscovered EV stocks that, while currently undervalued by Wall Street, have promised to deliver value in the future. Now let’s take the journey through the treasure hunt to discover these EV stocks Wall Street hasn’t discovered yet. The Lion Electric Co (LEV) Source: shutterstock.com/Dmytro_Yushchenko The Lion Electric Co (NYSE:LEV) is a Canadian-based EV manufacturer focusing on commercial vehicles. It’s currently the biggest commercial EV manufacturer, taking a lead in a market where many EV manufacturers are still wary to enter. The company produces electric public transport buses, yellow school buses, garbage trucks, bucket trucks, and semi-trucks. Lion Electric Company has had rough times in recent years, losing over $56.5 million in Q4 2023 and $103.8 million overall due to heavy losses that outweighed the revenue stream. The company responded swiftly by restructuring its value chain, laying off over 150 employees towards the end of 2023, and recently announcing the intention to lay off 120 more staff. However, for industry hawk eyes, it is just a matter of time before Lion roars back, with all factors aligned to ramp up production and meet the delivery targets by the end of 2025. The company has seen a steady increase in vehicle production from 519 in 2022 to 852 in 2023. However, the recent $38 million deal to supply over 97 school buses under the Clean School Bus Program will be a tremendous boost to its annual unit outputs. The company has also been upfront in strategizing how to meet the expected surge in demand, having recently secured a $50 million government loan to establish the Mirabel battery factory. With these projections, it is startling how LEV is one of the undiscovered EV stocks in the Wall Street corridors. Polestar (PSNYW)