Electric cars rely on an electric motor for propulsion.
Electric car sales increased by 60% in 2022 according to Car And Driver magazine.
Currently, around 5% of all new car sales in the US are electric vehicles.
Tesla dominates the electric car market in the US, responsible for about two-thirds of sales.
Direct investment options include stocks in EV manufacturers, such as Tesla, General Motors, and Toyota.
Investment options also include companies that supply EV manufacturers with parts, batteries, and motors.
The electric car market is growing with more companies entering the market and government support.
Before investing in the electric car market, it is important to consider stock volatility and conduct thorough research.