Our Top 3 EV Stock Predictions for 2023

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Our Top 3 EV Stock Predictions for 2023

InvestorPlace2023-01-02

It is that time of year again! As we gear up for the holiday season, investors are putting on their thinking caps and making EV stock predictions for 2023. As we enter the new year, here are three ...

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HuGang3166
·2023-01-03
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As we gear up for the holiday season, investors are putting on their thinking caps and making EV stock predictions for 2023. As we enter the new year, here are three ...</p>\n\n<a href=\"https://investorplace.com/2023/01/our-top-3-ev-stock-predictions-for-2023/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0820561909.HKD","symbol_name":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","start_time":0,"source_url":"https://investorplace.com/2023/01/our-top-3-ev-stock-predictions-for-2023/","article_id":"2300612010","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2300612010","pubTimestamp":1672660055,"sourceInfo":{"source_id":"investorplace","name":"InvestorPlace"},"weMediaInfo":null,"summary":"It is that time of year again! 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As we gear up for the holiday season, investors are putting on their thinking caps and making EV stock predictions for 2023. As we enter the new year, here are three predictions you can take to the bank.Tesla Will Have to Share the Pie: Although Elon Musk’s brainchild is still the biggest EV player, several other companies are credibly vying for the crown.Governments Worldwide Will Continue to Support EVs: The world is gradually shifting to cleaner and more sustainable energy sources. Governments worldwide support using electric vehicles (EVs) for their citizens.The EV Market Will Grow on a Secular Basis: Growth in the EV market is forecast to continue, with global EV stock predictions estimating continued and even accelerated adoption driven by various factors. \n\n\n\n \n\nSource: shutterstock.com/DigitalPen\n\n\n\nEV stock predictions for 2023 appear to be full of possibilities, with electric vehicle producers increasingly investing in the EV market.\nAs electric vehicles become more widespread, the EV sector will likely experience massive growth during the next two years. Many analysts are projecting robust growth for EV stocks due to increasing consumer demand around the globe. This rise in EV popularity will likely lead to increased investor confidence in EV stocks by 2023. Although predicting exact stock prices for EV companies this far into the future is difficult, EV stocks have nowhere to go but up in the years ahead.\nThe electric vehicle (EV) sector has entered 2021, still smarting from a rollercoaster 2020. Although EV stocks were trading at historical lows by year’s end, the overall outlook for the sector remains bullish in the long term. Analysts point to 2020 as simply an outlier of sorts, as numerous economic factors such as high inflation, rising interest rates, and general investor sentiment weighed heavily on the sector. Despite these troubles, there may be a reason to remain optimistic; indeed, it could represent an attractive entry point for those keen on obtaining a foothold in this burgeoning growth industry.\nAs the year winds to a close, we have come up with the following three EV stock predictions for 2023:\n\n\n\n\n\n\nTesla Will Have to Share the Pie\nSource: Rokas Tenys / Shutterstock.com\nWhen making EV stock market predictions for 2023, one thing can be said for certain: Tesla’s (NASDAQ:TSLA) dominance will erode.\nSince Tesla started rolling out their electric vehicles in 2012, it has become the undisputed top dog in the EV world. Their cutting-edge technology has revolutionized the auto industry and continues to be impressive and reliable. It has consistently innovated new ways to improve the luxury of driving an electric car – from long-range batteries that hold more power to adding autopilot technology so drivers can enjoy a stress-free ride. Tesla has repeatedly proved itself in this competitive market, setting a high bar for other manufacturers to follow.\nHowever, times are changing, and other automakers understand the potential of this segment. General Motors (NYSE:GM) announced plans to invest an additional $6.6 billion in its home state of Michigan by 2024. This increased investment is part of GM’s larger plan to manufacture 1 million electric vehicles throughout North America by 2025. The new spending includes expanding electric pickup-truck production and building a new electric vehicle battery cell plant. GM’s EV and AV investments from 2020 through 2025 will come to $35 billion. These initiatives are expected to yield $50 billion in annual EV revenue by 2025.\nThe Chinese EV trio of Nio (NYSE:NIO), XPeng (NYSE:XPEV), and Li Auto (NASDAQ:LI) is proving to be stiff competition for Tesla in the country.\nThey are making their presence known with confident strides, and it’s up to Tesla management to step up their game if they want to remain the leading competitor in Chinese markets. What will Tesla do? Only time will tell whether they can hold their lead in the face of this challenge or succumb under pressure from rising stars such as Nio et al.\n\n\n\n\n\n\nGovernments Worldwide Will Continue to Support EVs\nSource: Paul Craft / Shutterstock\nElectromobility is becoming increasingly popular, and governments worldwide are taking notice. From allocating large amounts of funding to EV research to giving tax incentives for EV buyers, governments play an integral role in the development of electric transportation. This trend of government support shows no signs of slowing down anytime soon.\nAs EVs become more accessible and economical, governments will continue their involvement in incentive programs that help reduce emissions and boost electric vehicle adoption among citizens. Ultimately, the result will be a cleaner energy landscape for everyone to enjoy.\nAugust was a major month for electric vehicles (EVs). President Biden signed an infrastructure bill of $7.5 billion, including investment in charging station infrastructure. Meanwhile, the Chip Act offers tax breaks to companies that manufacture important vehicle components for EVs. To top it off, the administration announced an additional $900 million worth of investments in a project aimed at creating a nationwide network of EV charging stations across highways in 35 states.\nBy 2030, China will have taken a government-mandated step towards cleaner air, improved public health, and new business opportunities with their 40% target of electric vehicles. This target could bring a profit bonanza to companies that enter the country’s vastly growing EV market. Since China is already the largest market for electric vehicles on the planet, this increase in sales could dramatically impact the global demand for electric cars and be a major contributor to improving air quality worldwide.\nApart from China and the U.S., European countries also made their commitment to EVs over the last few years. Lots of public EV charging infrastructure has been developed in Europe, and they are also incentivizing its use through rebates given by the government.\n\n\n\n\n\n\nThe EV Market Will Grow on a Secular Basis\nSource: VadymG / Shutterstock\nThe EV market is set to experience continued growth as we move into 2023. EV stock predictions make it clear that this trend of increased EV adoption will continue, driven by increased consumer demand, the implementation of EV-enabling policies, and the relentless push of EV manufacturers to increase EV selection, performance and affordability.\nThe worldwide market for electric vehicles is predicted to grow by 16.84% in the next five years, expected to result in a market volume of $846.70 billion by 2027, per a Statista report. According to data from McKinsey, more than 55% of new vehicles in China, Europe, and North America will be battery-electric or plug-in hybrid by 2030.\nDespite a few short-term headwinds brought on by the pandemic and EV supply chain constraints, EV stocks look poised to grow on a secular basis in 2023. Investors should consider taking advantage of bullish EV stock recommendations from reliable sources to seize potential upside potential. Tesla, BYD (OTCMKTS:BYDDF), and Nio are among the biggest players, and they are down 70%, 30%, and 69%, respectively. These stock prices are huge opportunities for investors looking for healthy gains in the current market.\nOn the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\n\nFaizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.\n\n\nConsumer Discretionary, Automotive, Electric Vehicles\n\n\nGrowth Stocks\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2023/01/our-top-3-ev-stock-predictions-for-2023/.\n©2023 InvestorPlace Media, LLC\n\n\n\nSponsored Headlines","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9950110345,"gmtCreate":1672700371487,"gmtModify":1676538720706,"author":{"id":"3574671095836888","authorId":"3574671095836888","name":"HuGang3166","avatar":"https://static.tigerbbs.com/1eec1ffec53cf574f9f59bc64caabf88","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3574671095836888","authorIdStr":"3574671095836888"},"htmlText":"Buy NIO","listText":"Buy NIO","text":"Buy NIO","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9950110345","repostId":2300612010,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":3,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}