Why EV Charging and Battery Stocks Rocketed Monday

Electric-vehicle (EV) stocks fired up the first day of November, with shares of charging infrastructure and battery manufacturers sent zooming after the latest numbers from leading manufacturers confirmed strong demand for EVs. This comes right at the start of the United Nation's COP26 climate summit in Glasgow, Scotland, where EVs are already grabbing eyeballs.

At their highest point in Monday morning trading, here's how much some of the top-performing EV stocks had rallied:

With leaders from around 120 nations gathering at the climate conference on Monday, investors expect to see commitments on clean energy worth billions of dollars over the next few days. While many nations already consider EVs to be a key part of their clean energy goals, Tata Motors' Jaguar Land Rover is providing a fleet of EVs to ferry the world leaders to and from the conference venue, reflecting the U.K.'s emphasis on EVs as a major tool to combat climate change.

Source Fool.com