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The last couple of years haven’t been good for investors in electric vehicle (EV) stocks. Barring Tesla (TSLA), which rallied sharply in 2023 after its crash in the previous year, most other pure-play EV stocks have largely been in a downtrend.
Even if the demand scare, massive overcapacity, unending price war, and higher interest rates were not enough, EV companies now face the prospects of Donald Trump becoming the U.S. President.