Better Buy Right Now: Tesla or Li Auto
Electric vehicles (EVs) have taken the global automotive industry by storm. The market is projected to eclipse $1.3 trillion by 2030, translating to a 19.8% compound annual growth rate (CAGR) from 2020. Today, there are more than 10 million electric cars on the road globally. That sounds like a lot, doesn't it? Think again. Despite experiencing rapid mainstream adoption in recent years, EVs still only represent 1% of worldwide car stock.
It's no wonder why automakers around the world are racing to capture a share of the emerging market. Similarly, investors are piling into EV stocks in hopes of cashing in on the massive secular growth trend. By 2030, it's expected that 300 million electric cars will be on the road, and that EVs will account for 60% of new vehicle sales versus 4.6% in 2020.
Don't want to miss out? Let's dive into two pure-play EV stocks, Tesla (NASDAQ: TSLA) or Li Auto (NASDAQ: LI), and discuss which one may be the better investment opportunity right now.
Source Fool.com
