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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 sharply.
Especially, the recent moment when 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 reached 90,650 units, significantly exceeding the forecast of 72,000 units, driving the electric vehicle market.
Moreover, electric vehicle sales are exponentially increasing domestically as well. The number of electric vehicles supplied in Korea, 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 have also surged. For example, Ecopro BM's stock price has risen over 130% compared to the beginning of the year, and Daewoo Electronic Materials' stock price has increased by more than 101%. Other related stocks have also risen by over 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 world rapidly implements 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 the appropriate buying timing at this point can be received through the link below.
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[Dayinvest Group Never Ending Care Major Returns]
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Stocks of Interest: Fashion Platform, Access Bio, Alois, KMH Hightech, Korea Pharma
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