Extending the rally that resulted in a gain of more than 24% last year, the S 500 is off to a strong start for 2024, thanks to the prospect of lower interest rates and encouraging economic data.

But many electric vehicle (EV) stocks have driven in the opposite direction. Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN), and Lucid (NASDAQ: LCID), for example, are three EV stocks that have faced a rocky road in the early days of 2024. Despite their poor performances, though, there are valid reasons to believe that they can all accelerate higher in the months -- and years -- to come.

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Source Fool.com