![]() ![]() The focus of governments to lower greenhouse gas emissions is making corporations invest aggressively in renewable energy sources, providing an impetus to automobile and battery manufacturers. ![]() Investors recognize this change in the automobile industry, but they do not have clarity on the breadth, complexity, and speed of the emerging lithium-ion battery industry globally. The massive transition towards EVs is creating a new avenue for lithium-ion battery makers. Volkswagen is making an even bolder claim as it expects EVs to take up 70% and 55% of its total sales in Europe and the US, respectively, by the end of this decade. Meanwhile, the Michigan-based Ford Motor anticipates that EVs will take up 50% of its total sales by 2030. The Detroit, Michigan-based General Motors is targeting to sell 400,000 EVs in 2023. Leading automobile companies like General Motors Company (NYSE: GM), Ford Motor Company (NYSE: F), and Volkswagen AG (OTC:VWAGY) are also gearing up to boost sales of EVs. These developments are taking place to reduce greenhouse emissions as the US, the EU, and other leading countries are focusing on becoming net-zero emitters of greenhouse gases by 2050. The US government is providing incentives to increase the sales and market share of EVs to 50% of the automobile market by the end of this decade. The share of EV sales has taken up more than 5% of the total new automobile sales in the US as of July 2022. If you want to see more stocks in this selection, check out the 5 Best EV Battery Stocks to Buy in Late 2022. In this article, we discuss the 10 best EV battery stocks to buy in late 2022. ![]()
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