Despite the promising future demand outlook for electric vehicles (EVs), the EV industry is currently facing several challenges, including a global slowdown in demand, oversupply, heightened competition, high interest rates, consumer concerns over the lack of infrastructure, etc. Given the industry’s challenges, investors could look to avoid EV makers Tesla, Inc. (TSLA) and NIO Inc. (NIO).
Before diving deeper into the fundamentals of these stocks, let’s understand what’s ailing the electric vehicle industry’s outlook.
