The adoption of electric vehicles is progressing at a faster-than-expected rate, given automakers’ thrust to EV transitioning, governments’ mandates to ban ICE vehicles, and huge capital infusion into the space sector, an analyst at Needham said in a note.
What Happened: Needham’s Vikram Bagri upgraded Tesla Inc. (NASDAQ:TSLA) shares from Underperform to Hold as part of transitioning primary coverage from analyst Rajvindra Gill.
