Better Buy Right Now: Tesla or Ford?
Electric vehicles (EVs) have taken the car market by storm in recent years, so much so that traditional auto manufacturers are now aggressively investing in the space. Ford Motor Company (NYSE: F), for example, recently outlined its already ambitious plans to ramp up EV production in the coming years. This puts pressure on pure-play EV businesses like Tesla (NASDAQ: TSLA), which is the clear leader in this segment of the auto industry.
According to Market Research Future, the global electric vehicle market is forecast to be worth $957 billion by 2030, translating to a compound annual growth rate (CAGR) of 24.5% from 2022. That has positive implications for all the EV stocks out there at the moment. Between the pure-play EV leader Tesla and the old-school automaker Ford, which stock will end up benefitting more? Let's take a closer look.
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Source Fool.com
