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The electric vehicle highs expected to proceed to overdrive

Tesla‘s chief executive, Elon Musk, is now the richest person, with the company boasting of more than 700% in sales. China’s Nio is the other company in the electric vehicle industry that has clocked 1300% sales demonstrating that China is the best market for these cars. Other electric vehicle stocks are also rising in value, with this trend expected to progress throughout the year after most countries showing high interest in transitioning their transportation sector to clean energy. Nio is very expectant of becoming the new Teslas in addition to other companies like Fisker. Another company on the watch-list in the electric vehicle industry Canada’s Facedrive, which procured Steer, a subscription service in Washington DC that will provide the renting option for cars instead of purchasing them.

Additionally, Biden’s election in the United States elections will bring the country into this quest after the previous president advocating for the opposite. Tesla will have the opportunity to develop and expand its technology, which it could not do under Trump’s administration for fear of ruffling feathers with the government and losing out on the United States market. One brand that the company is closely watching is the Fisker SUV. The model boasts of recyclable parts and is yearning for the attention that the other Tesla brands attained while entering the market. Fisker will be lucky to develop and release the Ocean SUV in 2023 after taking the advance orders this year and next year for the development of the most competitive units.

Another interesting experience for the electric vehicle industry is that the Biden administration will be pouring $2 trillion into the renewable energy utilities. This move will make the development of electric vehicle charging infrastructure swift, suppressing the grunts by the citizens over mileage range problems. Tesla, which boasts of a $660 billion net worth, will be the biggest beneficiary in such a move because the other competitors like General Motors, Ford, and Chrysler are still far from this value. The company’s stocks clocked an increase of more than 14000%. Nio appears to be rising with its shares growing from $3.24 last year to $61 this month in the China market. Moreover, the company unveiled a model that has the latest technology, which even Tesla fans would opt to try.

Li Auto of China finalizes today’s discussion, which can never end because the technology in this industry and the changes happen in short periods. Li Xiang founded this company five years ago, dedicating it to develop local plug-in hybrid vehicles. After merging with a SPAC and its subsequent listing on the Nasdaq stock exchange market, the company is already in its highs. The company has clocked over $30 billion as its worth and is expected to develop over 120 million electric vehicles in this decade. This move is possible since the ban on ICE cars is fast approaching, and Li Auto will be among the benefactors in this trend.

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