Electric vehicle adoption is taking off and is poised to keep climbing tremendously in the coming years. First of all, New York, California, and the EU have all banned the sale of gasoline-powered vehicles starting in 2035, and the governments of those jurisdictions will all take steps to boost the sale of EVs in the coming years.
Secondly, the Biden administration is moving to deploy EV chargers around the country, eliminating the “range anxiety” issues that have inhibited the sale of EVs.
And finally, given the lower, much more stable cost of electricity compared to oil and the new 30% tax credit for many EV purchases, EVs, on the whole, have much cheaper total ownership costs than their gasoline-powered counterparts.
Given these points, it makes sense to find stocks to watch to prepare to benefit from the EV boom.
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