The boom in electric vehicles on the global market has emerged as one of the few bright spots for investors this year. Tesla’s shares surged by 445%, while Chinese manufacturer NIO saw its stock skyrocket by 1070%.
There has also been significant growth among companies producing fuel cells, with Plug Power experiencing an impressive increase of 630%.
Traditional companies are feeling the pressure, prompting major global funds to redirect investments toward ESG assets, while governments are preparing for the energy transition.
Over 3,000 investors managing $110 trillion have signed the Principles for Responsible Investment, which are grounded in ESG factors.
Not all retail investors are ready to purchase Tesla stocks due to the high entry price; however, there are still other companies in this sector worthy of attention.
In addition to NIO, American stock exchanges feature Chinese EV manufacturers such as Kandi Technologies and Li Auto, as well as American company Lordstown Motors.
As always, it is essential to maintain critical thinking, as speculative price spikes can occur with shares, which may subsequently decline.
