【Stock Market Issue】Electric Vehicles Are an Irresistible Trend, Must Look into Beneficiary Stocks

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The paradigm of automobiles is rapidly shifting to electric vehicles.

This is because countries are increasing benefits for electric vehicles and continuously implementing eco-friendly policies, causing a surge in both supply and demand for electric vehicles. In particular, as more countries officially declare the phase-out of internal combustion engines in the long term, the electric vehicle market is expected to grow steeply.

Especially, the recent scene where Tesla surpassed Japan's Toyota to become the world's number one automobile company by market capitalization symbolically showed the change of the era.

This is also reflected in immediate performance, as Tesla's Q2 sales volume reached 90,650 units, greatly exceeding the forecast of 72,000 units, driving the electric vehicle market.

Moreover, domestic electric vehicle sales are increasing exponentially. The number of electric vehicles supplied domestically, which recorded 46,966 units in 2019, is predicted to reach 84,150 units in 2020. However, since domestic mass-production car manufacturers are consecutively launching new electric vehicle models and Tesla's popularity is soaring, the actual figures are expected to greatly surpass predictions.

Symbolizing this situation, related stocks' prices have also surged. For example, Ecopro BM's stock price rose more than 130% compared to the beginning of the year, and Daewoo Electronic Materials also increased by over 101%. Other related stocks also rose by more than 60%.

Choi Hyun-woo, an expert at DayInvest Group, explained, "The substitution rate of electric vehicles compared to the entire automobile market is still not large. However, as the whole world is rapidly implementing policies to increase electric vehicle adoption rates, the number of people switching from internal combustion engines to electric vehicles is steadily increasing. If you purchase at the right time with expert assistance, it can lead to tremendous profits."

Meanwhile, information on electric vehicle related stocks with an appropriate buying timing at this point can be received through the link below.

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Stocks of Interest: Access Bio, Y&Tech, Union Material, Sejong Telecom, Chorokbaem

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