5 Stocks To Crush The Market In 2018 As EV Race Heats Up

The automotive industry is currently undergoing radical transformation. Strict emission standards and the proposals made by a few Asian and European countries to prohibit internal combustion engines driven by fossil fuels, has prompted a number of traditional automakers across the globe to gear up for electric vehicles (EVs).
 
The present market share of EVs is paltry. Irrespective of that, automakers across the globe are pumping a huge amount of money with expectations of EVs soon becoming cheap as conventional cars. In fact, per a Bloomberg New Energy Finance report, EVs will account for 54% of new car sales by 2040.

The report also mentions that by 2025-29, in most countries EVs will be cheaper than internal combustion engine-powered vehicles. It further predicts that by 2030, the price of lithium-ion battery will plunge more than 70% and that “the real take-off for EVs will happen in the second half of the 2020s.”

Rally to EV Track

At the forefront of the revolution is Tesla, Inc. (TSLA – Free Report). Its shares have skyrocketed around 879% over the past five years. Led by CEO Elon Musk, Tesla has been instrumental in the transition to electric and renewable and sustainable energy.

Other automakers are following suit. Recently, General Motors Company (GM – Free Report), Ford Motor Company (F – Free Report) and Volvo Ab (VLVLY – Free Report) shared plans of aggressively investing in huge fleets of electric models. Only a couple of days ago, Japanese auto giant, Toyota Motor Corp. (TM – Free Report), shared its plans of popularizing electrified vehicles from 2020-2030.

This is in line with the company’s developmental strategy to launch hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs) and fuel-cell electric vehicles (FCEVs). Barely a day ago, German automaker, Volkswagen AG’s (VLKAY – Free Report), unit, Electrify America, disclosed its intentions of installing 2,800 electric vehicle charging stations in 17 of the largest U.S. cities by June 2019.