Finally, A Little Good News for EV Stocks -- Especially This Detroit Automaker
Investors waiting for a rebound in the EV market finally have some traction as of May -- but there are a couple of key things to know.
Finally, A Little Good News for EV Stocks -- Especially This Detroit Automaker
Overview
If there's one word in the dictionary that Wall Street and investors both dislike, it's the word "uncertainty." Uncertainty in the automotive industry is particularly bad, as the vehicle design and development process can take many months, and it's done in anticipation of markets years down the road.
Last year, the Trump administration injected uncertainty into the automotive industry when it slapped new tariffs on imported vehicles and automotive parts, and ended the valuable $7,500 federal electric vehicle (EV) tax credit. The ensuing drop in EV demand and sales was significant.
Details
However, there's finally a little good news for EV makers such as Tesla (NASDAQ: TSLA), and even more for traditional automakers such as Ford Motor Company (NYSE: F).
Source
Originally published at www.fool.com.
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