As companies and politicians around the globe ramp up plans to try to lead green transitions, one wealth advisor is flagging different companies that can help investors take advantage of this trend.

In an interview with BNN Bloomberg on Thursday, Eddy Gifford, a wealth advisor at TACTIVE ADVISORS, LLC, said despite recent market volatility, when looking at electric vehicle plays, investors should be thinking about companies that will outperform in five to 10 years from now.

One of the companies he said money managers should keep their eye on is ON Semiconductor Corp, a chip company that earned about half of its revenue from the automotive industry last year.

“Without the chips, you don't have the cars and I think that a lot of times everyone just looks at like the big picture, the actual hub like the vehicle itself; but there's so much stuff on the inside that makes that thing work and ON [Semiconductor] is one of the leading providers there,” Gifford said.

He also said while many investors may think of Tesla when it comes to EVs, he flagged there are many well-known luxury players with a loyal customer base that are ramping up production of green vehicles.

“Now Tesla, I mean, they have great features and they're really good at what they do but I feel like they're kind of battling with identity right now ‘Do we [Tesla] try to go after mainstream, or do we to stay on the other side?’ Whereas Porsche [Dr. Ing. h.c. F. Porsche AG.] their audiences is very clear,” Gifford said.

“They [Porsche] know that they're going after the luxury person, the one that wants all the bells and whistles, and I think that focus is what's going to be the difference over the next 35 years.”

He also recommends Volvo Group as another luxury electric vehicle play, as “more people have growing families and are looking for a substitute in the EV space.”

Gifford, his family, firm and clients do not own shares of his EV top picks: ON Semiconductor, Porsche and Volvo.