RIVN - Charging Forward: Exploring Opportunities In Electric Vehicle Stocks Amidst Market Fluctuations
2024-02-16 05:40:00 ET
Summary
- Despite global EV sales growing 40% last year, performance in related equities dragged.
- Pure EV companies such as Tesla, Li Auto, XPeng, and Rivian proved their ability to compete with legacy automotive companies in 2023.
- In 2024, we expect global EV sales to grow by 20% to 16.5 million units.
By Anthony Sassine, CFA
Introduction
Despite global EV sales growing 40% last year, performance in related equities dragged. 2 The disconnect between sales growth and stock performance stems partly from more conservative growth estimates. A consensus of reports estimates EV sales to grow by 20% in 2024, which is still notable growth compared to established global industries. 1 ...
Charging Forward: Exploring Opportunities In Electric Vehicle Stocks Amidst Market Fluctuations