Electric vehicles (EVs) have been dubbed the “future of mobility” because they provide a cleaner alternative to vehicles with highly polluting internal combustion engines. EV stocks have garnered significant investor attention over the past few years, with governments worldwide focusing increasingly on addressing climate change concerns.
The $1.2 trillion bipartisan Infrastructure Investment and Jobs Act (IIJA), which President Biden signed last November, allocates $30.70 billion to EVs and their related charging infrastructure. According to a Research and Markets report, EVs are expected to represent 48% of all new cars sold in 2030.
