No strangers to controversy, electric vehicles (EVs) are definitely here to stay. These cars offer a suite of advantages but are also bedeviled by problems.
On the downside, EVs are considerably more expensive than traditional gasoline-powered cars. Additionally, high inflation and interest rates make it harder for consumers to afford such high-priced items. On the upside, EVs offer a high level of performance under normal conditions, usually come equipped with the latest digital and connectivity tech, and have strong support from government policy initiatives.
On balance, the EV industry has a bright future ahead. Automotive industry experts estimate that, by 2030, as many as half of all new cars sold in the US will be EVs, a growth that translates to a CAGR of approximately 18%. Whatever you may think of the merits of EVs, this sort of growth will always attract investor attention to EV stocks.
Analyst Stephen Gengaro,…
