Shares of electric car makers have fallen sharply this year following the trend in tech stocks. The Global X Autonomous & Electric Vehicles ETF is down about 27% year-to-date, but major EV maker Tesla’s losses have outstripped the overall market, down about 32%. Rivian is even lower, down about 67% year-to-date. Nonetheless, one analyst is optimistic about the planned energy transition, which includes his EV. It’s what he calls one of the “biggest” investment opportunities since the internet revolution. Canaccord Genuity Senior Analyst George Gianarikas said of his acquisition of EV market leader Tesla and young startup Rivian: Tesla – ‘Enhanced Apple’ Tesla is the ‘clear leader’ in the EV space, Gianarikas told CNBC’s ‘Squawk Box Asia’ last week. Besides, he considers the company “bigger” than Apple. “There are striking similarities between Apple and Tesla, but Tesla is a beefed-up Apple. Both have industry-leading margins and profit share thanks to their product focus and vertical integration. Except we see Tesla’s manufacturing technology as a key differentiator,” he said separately. in the report. Tesla has set itself apart from Apple in its “maniac focus” on manufacturing, but Apple is sticking to outsourcing, Janarikas said. He told CNBC that this could help Tesla stay competitive as manufacturing capacity helps keep costs down. I pointed out that “Tesla’s manufacturing strategy cost nearly everything…but their relentless focus on manufacturing has resulted in a measurable improvement in profitability,” he said. said it was becoming “more than an EV company.” The company is also involved in solar, energy storage and robotics businesses, which “add sustainability and durability to Tesla’s growth story,” he said. Gianarikas gave Tesla an $801 purchase rating and price target. That’s about 190% upside. This is a much higher target than that of other analysts covering this stock. According to FactSet, 64% of his analysts have a buy rating on the stock, and his average price target is $307.27, or a 12% increase. Rivian — Potential “leader” EV startup Rivian is suffering from problems with its supply chain, affecting production. But a recent partnership with Amazon has given it a much-needed boost. Amazon plans to buy 100,000 custom-built electric delivery vans from Rivian as part of its move to electrify last-mile vehicles by 2040. This follows his $700 million investment in his EV startup in 2019. Amazon provided Rivian with capital and an initial order, but strategically he was able to quickly scale Rivian so that it could achieve several cost, manufacturing and design advantages. “He said Gianarikas. “Furthermore, the self-driving capability will allow Rivian to improve its self-driving capabilities by taking data/miles from his Amazon truck on the road,” he added. Although facing stiff competition from fellow startups and well-established automakers, Rivian is trying to differentiate itself, Gianarikas said. Rivian designed most of its hardware and software, he said, while traditional automakers use “different” technology from a variety of sources. “This holistic approach should drive product differentiation, enhanced customer service and strong profit margins,” he said. “Rivian has the ingredients to grow into a leader in the EV and mobility market.” He gave his $61 price target for his Rivian. This is an increase of about 83%. According to FactSet, 61% of analysts covering the stock gave the stock a buy rating with a target of $56.80, or a 71% increase.