The electric vehicle (EV) industry is growing rapidly around the world due to the cost stabilization of batteries, improving infrastructure, and government subsidies for buyers. These industry tailwinds should help the EV market reach $802.81 billion by 2027, demonstrating a CAGR of 22.6%.
The EV industry remains an attractive space for long-term investors even with ongoing supply chain disruption. EV stocks, represented by the Global X Autonomous & Electric Vehicles ETF (DRIV), returned about 13% over the past six months, outperforming the S&P 500’s 8% gains.
