The transition toward electric vehicles has begun rapidly, and several investors have a positive outlook for EV stocks. While countries across the globe are rapidly working on incentives to increase EV adoption and achieve their target of zero carbon emission, in reality, a very small percentage of EVs are on the road. It might take longer than expected for EVs to become mainstream. But the industry is moving at a steady pace, and it has the potential to become one of the biggest contributors to the economy.
While several EV makers are trying to make their mark, not all of them will be able to achieve success. Macroeconomic challenges, the Federal Reserve’s policies, consumer spending, and cash flow are just some concerns that all companies face. But beneath them, a few stalwarts have already made their mark in the industry. With that in mind, let’s take a look at three EV stocks to buy and two EV stocks to avoid.
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