The world's major automakers have stated unequivocally that electric vehicles would dominate their industry in the coming years. You will almost certainly pass an electric car on the road in future towns. With this latest generation of electric cars, there is a need for continuous innovation in the electric vehicle industry, necessitating the construction of additional infrastructure to meet customer demand. Seeing an electric vehicle on the road would soon be as normal as seeing a traffic light. When we reach the year 2022, the numbers don't lie.
The electric vehicle industry has been growing for years, and investors continue to pour billions of dollars into it. While this is still a young industry with plenty of potentials, it also has a lot of challenges, which means there's space for costly mistakes that could have far-reaching consequences. The all-year rally in electric vehicle (EV) stocks may have diverted some investors from market challenges. The EV market has risen rapidly in a short period, resulting in a bullish market attitude; however, given the risks associated with EV investments, investors may want to temper their excitement.
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How EV is a boon for us: The Benefits of Electric Vehicles
Consumers have become aware of the need to support green energy projects explicitly and come to terms with more sustainable transportation choices as global warming has become a serious problem. One of the most compelling reasons for people to choose an electric vehicle is pollution. Many of the pollutants from gasoline-powered cars are poisonous, causing various health issues and premature deaths each year.
Heart disease, cancer, asthma, and stroke are only a few of the most serious human illnesses, and they're all related to air pollution. One of the most important considerations in making the transition from a gasoline-powered engine to an electric one is the environmental benefits.
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Major Highlights of the Market:
Although electric vehicle stocks are currently hot on the market, making them appear to be an unbeatable buy, investors must keep the risks and challenges in mind. These high-flying stocks have sky-high valuations, leading some investors to believe they are in a bubble.
Tesla's stock has increased by more than 600% year to date, giving it a market capitalization of more than $600 billion. Despite its high market value, investors continue to believe in TSLA. Although sales were flat in the second quarter, they were up 32% and 39% in the first and third quarters, respectively.
Tesla introduced a revolutionary battery design, outlined plans for lowering the cost of electric cars and unveiled new self-driving vehicles for its annual battery day.
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