Over recent years, consumers worldwide have displayed a growing preference for Electric Vehicles (EVs), driven by many factors, including surging fuel and gas prices, mounting environmental concerns, and a desire for cleaner and more sustainable transportation alternatives. The global EV market is projected to reach around $1.72 trillion by 2032, growing at a robust CAGR of 23.1%.
With this trend in mind, in this article, I have evaluated the fundamentals of three automotive companies, Blue Bird Corporation (BLBD), Wabash National Corporation (WNC), and Volkswagen AG (VWAGY), which are B-rated in our proprietary POWR Ratings system and could be better buys than EV giant Tesla, Inc. (TSLA). Let us understand why.
