Industry poster child, Tesla, made incredible gains in the stock market, while international players landed with successful IPOs. Brands like Vietnam’s VinFast and China’s NIO continue to make inroads, with VinFast planning to sell 50,000 vehicles this year – nearly seven times more than their total sales numbers for 2022.
These brands’ innovative and fairly priced models are making EVs more accessible to a wider swathe of drivers around the world. NIO is rumored to enter the American market in 2025, while VinFast became the first Vietnamese automaker to sell cars in the U.S. earlier this year.
“Aside from EVs, renewable sectors that are good for investment include solar, wind, and hydrogen fuel cell technology,” Jorey Bernstein, CEO of Bernstein Private Wealth. “These sectors have similarities with EVs in that they are all environmentally friendly and sustainable sources of energy.”