Electric cars or EVs are automobiles that run on electricity-powered engines. The EV manufacturers aim to replace gas-powered engines over time. The accelerated shift towards clean energy solutions globally will act as a major driver of top-line growth for EV manufacturers in the upcoming decade.
Tesla (TSLA) is the largest EV manufacturer in the world and recently touched a trillion-dollar valuation. However, this segment is large enough to accommodate both legacy manufacturers and new entrants such as Nikola (NKLA) and Workhorse (WKHS).
