2 Energy Stocks You Can Buy Right Now to Play the EV Boom
The electric vehicle market has been the talk of the stock market for three years, but shares of EV companies haven't fared well as the market has dropped. Not only are investors concerned about companies executing growth plans, but they're also worried that consumers won't have enough money to buy expensive vehicles in a slowing economy with rising interest rates.
But there are still some good ways to get exposure to EV stocks today without taking a risk on unproven companies or technology. Here's a look at why General Motors (NYSE: GM) and Magna International (NYSE: MGA) are great ways to get exposure to the EV industry.
General Motors has announced plans to exclusively offer EVs by 2035, an ambitious goal to become a leader in the electric and autonomous vehicle market. GM has several EV models available now, including the 2023 Bolt EV and Bolt EUV, with the set to be available starting in the spring of 2024. The 2024 Blazer EV, 2024 Silverado EV, and 2024 Equinox EV are also expected to be available within the next year. But this only scratches the surface of GM's EV plans.
Source Fool.com
