The last few years have been pivotal for the electric vehicle (EV) market, with the number of EVs on the road hitting the 10 million mark in 2020. That’s a sizeable number, but still only one percent of the vehicles worldwide. (Source: “Trends and Developments in Electric Vehicle Markets,” International Energy Agency, last accessed March 23, 2022.)
Battery electric vehicles (BEVs) made up approximately two-thirds of new EV sales in 2020. China was home to the largest number of EVs that year, with 4.5 million, although Europe had the largest annual increase, reaching 3.2 million.
While many EV stock investors are dazzled by vehicle manufacturing stocks like Tesla Inc (NASDAQ:TSLA), Rivian Automotive Inc (NASDAQ:RIVN), Fisker Inc (NYSE:FSR), and Lucid Group Inc (NASDAQ:LCID), EV infrastructure stocks could become the biggest winners.
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