Powered by electricity
The electric vehicle (EV) market is a rapidly growing industry that focuses on the production and sales of vehicles powered by electricity rather than gasoline or diesel. EVs are considered to be more environmentally friendly and efficient, and they are increasingly popular due to rising concerns about climate change and the need to reduce greenhouse gas emissions.
The expected future for the electric vehicle industry is very promising, as more and more countries around the world are setting targets for phasing out fossil fuel vehicles in favor of electric vehicles. For example, the United Kingdom and France have pledged to ban the sale of new gasoline and diesel vehicles by 2040, and several other countries have similar targets. Additionally, major automotive manufacturers are investing heavily in EV production, and the number of available models is rapidly increasing. As battery technology improves, the range and performance of EVs are also increasing, making them a more attractive option for consumers. Finally, government incentives and subsidies for EVs are increasing, further driving demand for these vehicles.
Electric vehicle stocks and industry leaders
Tesla: one of the most well-known EV manufacturers. The company's models include the Model S, Model X, Model 3, and Model Y. Tesla also produces electric powertrains and batteries for other companies.
Volkswagen Group: a German multinational automotive company that includes brands such as Volkswagen, Audi, Porsche, and others. The company has committed to investing heavily in EV production and plans to release dozens of new electric models in the coming years.
General Motors: an American multinational corporation that produces a wide range of vehicles, including electric models such as the Chevrolet Bolt EV and the Cadillac Lyriq.
BYD Auto: a Chinese automobile manufacturer that specializes in electric vehicles. The company produces a variety of models, including cars, buses, and trucks, and has partnerships with major automakers such as Toyota.