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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 announce 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 represented this era of change.
This is also reflected in immediate performance, as Tesla's Q2 sales volume of 90,650 units greatly exceeded the forecast of 72,000 units, driving the electric vehicle market.
Moreover, electric vehicle sales are increasing exponentially in South Korea as well. The number of electric vehicles supplied domestically, which was 46,966 units in 2019, is predicted to reach 84,150 units in 2020. However, as domestic mass-production car manufacturers continue to launch new electric vehicle models and Tesla's popularity rises day by day, the actual figures are expected to far exceed predictions.
Reflecting this situation, related stocks have also surged. For example, Ecopro BM's stock price has risen more than 130% compared to the beginning of the year, and Daewoo Electronic Materials' stock price has increased over 101%. Other related stocks have also risen 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 countries worldwide rapidly implement policies to increase electric vehicle adoption rates, the number of people switching from internal combustion engines to electric vehicles is steadily increasing. If you buy at the right time with expert assistance, it can lead to tremendous profits."
Meanwhile, information on electric vehicle-related stocks with the right buying timing at this moment can be received through the link below.
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Stocks of Interest: TK Chemical, Special Construction, Nature & Environment, KPM Tech, Hyungji I&C
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