The Nasdaq sell-off is bringing once high-flying names to their knees. From the capitulation of Zoom Video Communications and Teladoc to the shredding of DocuSign, Wall Street is showing no patience for slowing growth.

Lucid Group (NASDAQ:LCID), ChargePoint (NYSE:CHPT), and TPI Composites (NASDAQ:TPIC) are three growth stocks that could all be worth buying for 2022. Here's why.

A silhouette of a person plugging in an electric charger into a vehicle.

Image source: Getty Images.

The EV play

Gone are the days of Tesla (NASDAQ:TSLA) being the only viable electric vehicle (EV) investment. Today, a growing cohort of up-and-coming names like Lucid, Rivian, and Nio offer different risk-reward profiles. There's also a long list of existing automakers that are investing heavily into EVs, like Ford and General Motors.

LCID Chart

LCID data by YCharts

Share prices of Lucid are up over threefold year to date. But even with that rise, the stock could still be a good buy. The key to any new company gaining its footing is establishing a reputation and brand recognition. Lucid takes this task very seriously. It realizes that to compete with existing titans like Tesla, it needs to have something they don't. Its answer: Lucid has packaged together a high-performance, long-range, fast-charging luxury sedan. It's a unique design that doesn't look like a traditional sports car or an executive luxury sedan. Ultimately, investors should go with the EV stock they think has the best chance to succeed. Given its technological edge, Lucid stands out as the best of the bunch. However, the company is facing added uncertainty due to the U.S. Securities and Exchange Commission (SEC) probe that was issued on Dec. 3.

The EV charging play

Like Lucid, charging infrastructure company ChargePoint is relatively new to the public stage -- having undergone a De-Spac merger earlier this year. 2020 was a tough year for ChargePoint as the company struggled to grow its business. ChargePoint relies on companies and organizations that want to offer EV charging for their employees and customers. With fewer people going to work and shopping in public, the pandemic certainty threw a wrench in ChargePoint's plans. Fast forward to 2021, and ChargePoint has resumed a steady growth trajectory.

ChargePoint reports its third-quarter 2021 earnings on Tuesday. Industry watchers will likely be listening closely to management's comments on the market outlook as well as how the infrastructure bill affects its business. Either way, ChargePoint is a nice picks and shovels play that should rise along with the EV industry.

The wind-energy play

Share prices of independent wind blade manufacturer TPI Composites have gotten absolutely walloped this year. It's been quarter after quarter of disappointing results, too much cash burn, and what looks to be the third straight year of negative earnings. TPI now has a market cap of just $610 million, making it a blip on most renewable energy investors' radar. 

Sometimes, when everything is going wrong for a company, it could be a good time to buy. TPI spent the last few years expanding its global manufacturing capacity and building new research centers. It has since struggled to book that added capacity as well as renew contracts on its existing production lines. In sum, TPI is set up nicely for a return to growth in the wind energy space. For investors that believe in the future of wind energy, TPI could be a turnaround play to consider.

Different growth choices

Lucid, ChargePoint, and TPI Composites each offer a different way to invest in the energy transition. Lucid is the riskiest of the bunch, as it's a bet on growth in both the EV industry and in demand for Lucid's vehicles. ChargePoint is a simpler choice that depends on public and residential demand for EV charging. TPI Composites expects low growth in 2022 and needs to improve its cash position to weather the expected slowdown in revenue. If it can overcome these challenges, it could rise with the long-term growth in wind-energy installations.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.