2024-01-15 05:23:00 ET
Right now, the automotive industry is on the cusp of huge change. Electric vehicle (EV) market share in the U.S. is nearing 8%, which is roughly around the level when a technology transitions from early adopters to mainstream customers.
If you're looking for stocks positioned to ride the wave of transition to EVs, both Rivian Automotive (NASDAQ: RIVN) and QuantumScape (NYSE: QS) offer investors unique plays and are potentially poised to surge higher as EVs take over the roads.
Generally, in the automotive industry, bigger vehicles mean bigger profits. SUVs and full-size trucks have kept the lights on at Detroit factories for decades, and they haul in considerably higher margins than mainstream passenger cars.
For further details see:
2 EV Stocks You Can Buy Right Now Before They Surge