EV global impact
Let's start by presenting the strength of the industry based on numbers. The EV market is predicted to reach $457.60 billion in 2023. In 2027, the market volume could hit $858.00 billion. The projected sales in the EV market in 2027 are likely to reach 16,206.9 thousand vehicles. China is expected to achieve the highest sales globally - up to $190.4 million.
Graph: EV sales trends and forecasts to 2027. (Resource: Statista)
Harmful exhaust emissions from conventional engines are a concern not only for Europe but for the entire world. Road transport is one of the main polluters. That's why many major countries have begun to introduce electric vehicles in large numbers. One example is the UK, which plans to stop selling new diesel and petrol cars by 2030. By 2035, it will require all new cars and vans to have zero tailpipe emissions.
If we look at the US, in particular the state of California plans to prohibit the sale of new gasoline-powered vehicles by 2035. All the laws and restrictions will continue to encourage the growth of companies dedicated to the production and development of technologies, vehicles and, probably, aircraft that would not pollute the environment.
EV stocks are in the spotlight
Tesla is certainly one of the most popular electric car manufacturers. However, shares of Musk's carmaker have been falling throughout 2022, which could be an interesting opportunity to buy them in a discount. Other titles worth mentioning are General Motors or Ford, as both companies are involved in the development and production of electric vehicles and do not hesitate to invest in a better future for our planet. Chinese leaders Nio and Xpeng are among most important companies. There are many investment opportunities in the sector, and investors have many choices to participate in the coming electric revolution
Olivia Lacenova, Chief Analyst at Wonderinterest Trading LTD