Electric vehicles hit top gear

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Hello,

In today’s email we explore Electric Vehicle’s rapid growth in the last few years. Lets dive in!

CHART

Sales of Electric Vehicles (EVs) have accelerated, growing 5x in last 3 years to cross 10M in 2022. It looks like 2023 is on the same trajectory LINK 

China is doing the heavy lifting - with 58% of new units being sold there, followed by EU27. US is a distant third.

EVs is an industry in a secular growth trend - with 10+ years of sustained growth. Several factors are coming together now to create very favorable conditions for industry growth:

• Consumer preferences are strong for green vehicles

• Govt policies continue to incentivize buying electric vehicles

• Manufacturers are answering consumer need by building newer models and investing in building charging infrastructure

Why should you care?

Industries in secular growth offer great upside opportunities. You could for instance, look for new job / career opportunities in EV sector (e.g. at Tesla) or choose to invest in individual stocks / sector focussed ETFs^*

*Obligatory disclaimer: This is not financial advice. Remember to do your own research before making any financial decisions

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That’s all for this week. Thanks for reading! 👋