Investors are betting big on EV stocks.

The sector has attracted a ton of attention since Tesla (NASDAQ: TSLA) skyrocketed in 2020 as the company turned profitable and traditional automakers turned their attention to electric vehicles.

Most of the industry now seems to accept that electric vehicles will eventually displace combustion-powered ones, and that's made pure-play EV stocks like Rivian (NASDAQ: RIVN) and Lucid Motors popular as well, though both stocks are down substantially from their earlier peaks.

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Source Fool.com