Things are Heating Up…Don’t Write Off Electric Vehicle Stocks Just Yet
Don’t write off electric vehicle-related stocks just yet.
Despite news that sales are still slowing, it’s not entirely true.
For one, Ford Motor just said its EV sales were up about 64.7% in May. It also said EV sales were up about 88% year over year for the first five months of the year.
General Motors said May was its best year for EV sales in history.
Hyundai said May EV sales were up 42% year over year. Even Kia America just said its sales were up about 5% year over year. In fact, according to InsideEVs.com, “In May, Kia’s all-electric car sales surged to new record levels, exceeding 7,000 units for the first time in a month.”
Should EV sales continue to improve, about a third of all cars sold globally will be electric by 2030, says RMI.org. By 2035, according to the International Energy Agency (SYM: IEA), that number could rocket to about 50%.
With hopes that EV sales will see a strong second half of the year, investors may want to jump into beaten-down EV-related stocks like Tesla (TSLA) for two key reasons.
One, as Wedbush analysts noted the other day, the $56 billion Elon Musk compensation removes a $20 to $25 overhang on the TSLA stock.
Two, Tesla still has a leg up on its competition.
As noted by Business Insider, Tesla is building EVs cheaper than its competition.
In fact, Tesla’s input cost per vehicle is less than $30,000 per vehicle, which is about $10,000 less than the industry average – which allows it to book higher profit margins.
If you’re open to big investing ideas then keep reading…
This New Idea is Set to Shock the World
PayPal was not a popular idea at first.
In the late 1990s, when most people were still mailing checks, Elon Musk’s idea of making payments over the internet was unimaginable.
Now, though, PayPal is a promising contender in the ever-competitive AI boom.
It seems that everything Musk has done throughout his career sounded insane at first…
Which is why it’s important that you pay attention to his latest, strange invention.
It’s an AI device that could be the most powerful technology ever created.
This new idea is set to shock the world once again – and this time, you don’t want to be a nonbeliever.
