2 Top Stocks to Mine the Riches of the EV Market
Electric vehicle (EV) sales are expected to reach 7% of all new vehicles sold worldwide in 2021, exceeding five million units sold. Research and Markets estimates that by 2030 that number will ratchet up to 48%.
The EV market, one of the fastest growing markets today, is projected to continue its fast track at a compound annual growth rate (CAGR) of 22.6% for at least the next 6 years. At that rate, it would increase the total global EV market value from what was $162 billion in 2019 to over $800 billion by 2027.
Some investors looking to partake in the EV market will buy stocks in auto manufacturers such as Tesla. But what powers the vehicles produced by those auto manufacturers can also power an investment portfolio. Two companies that present a great opportunity for investors include lithium producers, Albemarle (NYSE: ALB) and Livent Corp. (NYSE: LTHM).
Source Fool.com
