Global EV sales continued to rise in the first half of 2024, with battery-electric and plug-in hybrid vehicles surging 22% year-on-year to 1.35 million units. Prices have begun to come down, and consumers are starting to realize the benefits of owning EVs.
But it’s not just one or two companies that are dominating the discussion of this market anymore. There are a wide range of options available to consumers to choose from, at much lower prices.
Another key factor to consider is strong growth out of China. The Chinese market continues to see strong growth, with new EV and plug-in hybrid sales breaking through the 50% threshold this year for the first time ever. That’s one of the reasons why I’m pounding the table once again on two Chinese EV stocks relative to the U.S. leader.
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