Consumer demand for electric vehicles (EVs) is rising consistently. Moreover, as part of the $1 trillion infrastructure law approved in November 2021, President Joe Biden approved $900 million in funding to construct EV charging stations in 35 states.
The president also wants 50% of all new vehicles sold to be electric or plug-in hybrid electric models by 2030 and 500,000 new EV charging stations. Therefore, the prominent EV players should benefit.
