4 Stocks with Exposure to the Growing Asian and Middle Eastern EV Markets
–News Direct–
Theres been a lot of recent news about automakers cutting back on or delaying production of electric vehicles (EVs) due to slowing consumer demand. One of the main culprits responsible for the weakening demand is high interest rates, which have made consumers hesitant to finance big-ticket purchases like electric cars.
Luckily, a rebound could be on the horizon as the Feds interest rate hiking cycle appears to be at an end, which means once rates start falling, EV sales should pick back up. As a matter of fact, a recent report from Fortune Business Insights projects that the global EV market will grow from $500.48 billion in 2023 to $1.5 trillion in 2030, representing a CAGR of 17.8%, which reaffirms the industrys solid growth prospects.
Even as the US market slows, EV adopt...