No company embodies the growth potential of electric vehicles more than Tesla. But with the value of Elon Musk’s company falling from more than $1tn last year to $383bn, many investors are rethinking how to get exposure to the EV boom.
The size of the global electric vehicle market is projected to grow from $287bn in 2021 to $1.31tn in 2028, predicts data company Sustainalytics. It’s an opportunity few investors will want to miss.
Even beyond Tesla’s current turmoil, the nascent market faces a bumpy road, with concerns about range anxiety, shortages of raw materials such as lithium, cobalt and nickel, and a geopolitical push to establish western supply lines independent of China.
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