C - 1 Electric Vehicle (EV) Stock to Buy Hand Over Fist in 2024 and 2 to Avoid
2024-01-09 05:06:00 ET
If there's one constant on Wall Street, it's that there's always a next-big-thing investment trend capable of changing an industry or revolutionizing the world. Throughout 2023, artificial intelligence (AI) captivated the attention of investors. But before AI dazzled Wall Street, it was the rise of electric vehicles (EVs) that garnered investors' attention.
According to a 2023 report ("X-Change: Cars") from the researchers at Rocky Mountain Institute (RMI), EVs are expected to grow from a little over 10% of total global car sales (as of 2022) to between 62% and 86% of worldwide vehicle sales by 2030. RMI's thesis is that economics will (pardon the pun) drive growth for EVs. Lower battery costs and improved production efficiencies can drive down the selling cost of EVs to match internal combustion-engine vehicles.
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1 Electric Vehicle (EV) Stock to Buy Hand Over Fist in 2024 and 2 to Avoid