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Bank of America likes these EV stocks the best once the market washout is over

The Rivian R1T on stage as a 2022 Truck of the Year Finalist at the LA Auto Show in Los Angeles, California on November 17, 2021.
Frederic J. Brown | AFP | Getty Images

Newly public electric vehicle companies cratered on Thursday, building on recent losses amid a rotation out of high-growth stocks, but Bank of America believes the long-term bullish theme remains intact.

The firm said investors should expect these stocks to remain volatile "over the next 3-6+ months as the volume environment (production/sales) remains choppy and visibility is significantly lacking."

But ultimately, Bank of America said that the "electrification revolution has finally arrived" and listed EV companies among the stocks it believes will outperform in 2022.

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