Electric vehicle industry facing challenges with slowing market growth, potential for recovery in 12-18 months

From Nasdaq: 2024-05-13 08:27:00

The electric vehicle industry is facing challenges as the market growth slows down, leading to declining shares of EV startups like Rivian, Lucid, and Nikola. Companies are focusing on cash generation and cost reduction measures to survive in the tough market landscape. The industry is looking towards hybrid vehicles as a feasible alternative amidst the current “EV winter.” Additionally, there is increasing focus on Chinese EV sales and partnerships with foreign carmakers in smart car technology. Analysts are cautious about the current state of the industry but see potential for recovery in the next 12-18 months. Investors are advised to keep an eye on ETFs like DRIV, KARS, IDRV, and CARZ for potential entry points.



Read more at Nasdaq: Electric Vehicle (EV) ETFs Struggling: Near-Term Turnaround Likely?