Saying that 2023 was a tough year for electric vehicle (EV) companies is hardly a stretch, given that the demand declined significantly and multiple prominent firms like Lucid (NASDAQ: LCID) and Nio (NYSE: NIO) were slaughtered on the stock market and saw their delivery target figures gutted.
This year similarly started poorly for the industry as even the major firms like Elon Musk’s Tesla (NASDAQ: TSLA) began showing major signs of decline.
The firm has, in fact, faced a string of setbacks in recent months, including certain production issues related to the Cybertuck and major labor disputes – particularly with workers in Scandinavia – which saw its stock fall nearly 25% since January 1 despite its recent reports showing strong results and record-breaking delivery figures.
Despite this, significant optimism remains for the EV industry, as evidenced by the fact that the average 12-month price target for firms like Nio…
