Want to Bet on China's EV Growth? Here Are 6 Stocks to Consider
From January to November, 2.5 million electric vehicles (EVs) were sold in China, including plug-in hybrids. That's a year-over-year increase of 178%. In the first half of this year, China accounted for roughly 42% of global EV sales. Global EV sales for 2021 are estimated to be around 6 million units, which means China will likely maintain its lead in EV sales for the year.
With strong governmental support for both EVs and public charging infrastructure, China's future EV growth looks certain. Here are six stocks to bet on this growth narrative.
Nearly 25% of Tesla's (NASDAQ: TSLA) revenue for the first nine months of 2021 came from China. In the third quarter, it derived nearly 23% of its revenue from China. According to CleanTechnica, the company controls roughly 10% share -- the third highest -- of China's EV market. Clearly, China is an important market for Tesla.
Source Fool.com
