Speed🏎

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Speed

At the end of last year on Invstr Crunch, we analyzed the EV market and broke down who could be winning the competition. Since then, the industry has made it through a full pandemic, a semi-conductor shortage, more global affairs, and a lot more.

Despite increasing competition and supply of electric vehicles, demand has seen a strong trend of growth with iShares Self-Driving EV and Tech ETF over doubling in value since March of 2020. But who’s winning this high-tech race? Well so far Tesla has a head start, but overseas competition is stiff and is catching up. China has seen a rise in its EV stocks such as Nio  (NIO) and XPeng (XPEV) and a July 2020 report from McKinsey & Co. found that European EV sales increased by 44%, marking the highest growth rate since 2016. In fact, the most recent reports are showing a new competitor in China that wasn’t too relevant even a year ago. The name of the company is Li Auto and they reported more deliveries than XPeng in June. This really shows how all around the race for the electric vehicles market is only growing, and despite the shortages of semiconductors, there is no shortage of ambition among entrepreneurs in the space!

But there must be some consumers to match this supply? So, what is driving all this demand? Besides it being a massive flex, high-end electric vehicles appeal to a growing theme of environmental consciousness. In fact, an increasing number of investors are looking at a company’s ESG or Environmental, Social, and Governance rating when investing. All in all, electric vehicles seem to fit right into a society with a growing focus on the environment. What do you think about all these companies? And are any of them really going to dominate the market?

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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