The EV Boom Is Here: Buy These 2 Stocks
Good news for investors who have been waiting for a surge in electric vehicle (EV) sales: The EV boom is here. According to CleanTechnica, roughly 5.7% of U.S. car sales were fully electric in 2022 -- and that has already quickly increased at the beginning of 2023. In fact, during the first quarter of 2023 EV share hit 7.2%, and if the U.S. market follows trends of previous markets to hit this tipping point, EVs could own a 25% market share by mid-decade.
With the EV boom gaining traction, and quickly, here are two stocks poised to benefit long-term investors.
Rivian Automotive (NASDAQ: RIVN), a relative newcomer to the EV manufacturing race, has a number of things going for it as it tries to convince investors it could be the next great EV stock. Three things are key for Rivian to prove it's a worthy investment: production, liquidity, and narrowing losses.
Source Fool.com
