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Originally Posted by DoubleK
Aside from Tesla and Lucid I'm not aware of any EV stocks that are lights out. Maybe Magna? I hold LEV and VMC and they are not doing so hot. My best performing EV play is MP materials. I think they will be good investments long term, but hopping mad they are not.
There are ~300M vehicles in the US with an average age of 12 years. At current course and speed, will probably be 2035 before you see any significant demand destruction due to EVs. Government incentives could change that, in particular one around conversion of ICE vehicles to EVs. Supporting that has a huge impact on the local economy.
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I dunno. The fact that Tesla is worth 3 times what Exxon is worth should tell us what the market thinks. I'm not going to defend the valuations, but the speculation is priced in. Rivian has sent in a confiential application to the SEC for an IPO and their valuation last year was higher than GM's current market cap. That's insane considering until a week ago they've never sold a single vehicle