EDIT: appears some participants are having difficulty determining their choice. For the purposes of this poll, let's call the foreseeable future 5 years or less. ------ EV Stocks Pass Traditional Car Makers in Market Cap, No Thanks to Tesla -- Barrons.com Today 9:55 AM ET (Dow Jones)Print Electric-vehicle stocks, except for Tesla, have piled up enough big gains recently that the EV sector's market capitalization exceeds that of auto makers using internal combustion engines. The gains for EV stocks other than Tesla (ticker: TSLA) are everywhere. Rivian Automotive (RIVN) stock was up about 91% over the past four trading days and gained another 10% in premarket trading Tuesday. Futures on the S&P 500, meanwhile, were flat. Futures on the Dow Jones Industrial Average rose about 0.2%. Coming into Tuesday's trading, Lucid (LCID) stock was up about 86% over the past month. The stock was up another 6% in premarket trading Tuesday after Lucid reported third-quarter numbers late Monday, saying it already has enough customer reservations to meet Wall Street's entire 2022 sales estimates. Special-purpose acquisition companies are contributing to the market-cap surge. Shares of Gores Guggenheim (GGPI), which is merging with Polestar, gained more than 15% Monday. Polestar is valued at more than $30 billion. Chinese EV stocks are posting gains too. XPeng (XPEV), NIO (NIO) and Li Auto (LI) shares are up 13%, on average, over the past three months The market capitalization of EV auto makers is now about $1.52 trillion, larger than the $1.47 trillion figure for the traditional auto makers. The entire auto manufacturing sector is worth about $3 trillion, another reminder for investors that the automotive business is huge. Tesla stock, however, isn't contributing to the recent rally. Shares have dropped about 17% since Elon Musk started selling stock. He has been unloading shares since he conducted a Twitter (TWTR) poll asking if he should sell 10% of his stake and pay taxes on unrealized capital gains, and received a positive response. Still, Tesla stock is up almost 50% over the past three months. It remains the world's most valuable auto company with a market capitalization of more than $1 trillion. Of course, EVs still represent a small fraction of overall car sales, a fact that has raised concern among value-oriented investors that EV stocks are in a bubble. Growth investors will point out EVs are growing faster than anyone expected and that the future looks bright for battery-powered personal transportation. Although the EV bull-bear debate will play out over coming years, backers of the stocks have the upper hand for now. Write to Al Root at [email protected]
I voted "yes" but our next car will arrive in the next 5 weeks and it will be fuelled by gasoline. I'm confident this will be our last ICE vehicle. My hope is this will be the last vehicle we own. I'd like to join a ride share network and never drive again but it would have to be similar or lower cost to owning a vehicle. If we need another car, it will be an EV.
I didn't vote. I have no plans to buy a car, and think the one I got can go for another 20 years. However, I know California is outlawing gas stations. So I've come to terms that I may need to get a new car sooner, and that my next car should NOT be gasoline-fueled. I'm looking at either electric or hydrogen. I'd like to note that there's a couple of aspects of electric cars that will probably affect me, which I am not feeling confident about. 1) Rental cars: I do not look forward to renting an electric car because I would not want to recharge it before returning. I shudder to think how much rental companies will bill for that. Probably hotels will get in on it too, how much will that be when just parking overnight goes $35+? 2) Lots of mining to make these electric batteries. Don't know how the green folks reconcile that with their aim of reducing carbon footprints and saving the environment.
I can help with that. This is a pic of Prince William Sound, circa 1989. The best part is: this is literally a rounding error in the grand scheme of planetary carbonization.
My next car will be electric, but until my Jeep Cherokee dies, I'll keep running it. It's a 2016 and I live 8 minutes from work, so it could be another decade. It will be paid off in the next few months.
Same, my average drive is 10min, not doing and cross country trips every often. Electric is perfect for 99% of my needs.
I dont think i have to tell anyone my vote…im frugal and will drive mine into the ground, but when its time, there is only one manufacturer im looking at….
the latest buzz i'm seeing is that you'll get a bigger tax credit if you buy an ev built at a union plant. fyi.
HA! Sent this one to a 5-5 tie with NO vote! But my vote is decieving because a couple months ago we tried to buy an EV...but couldn't due to the chip shortage. So we ended up getting what we could get based on what was available...and it wasn't EV unfortauntely. So...will I buy an EV in the foreseeable future considering we just bought a new car? NOPE!
Lithium Shortages To Slam Brakes On EV Adoption With a single lithium mine operating in the U.S., one nickel mine, and one major source of rare earth magnets — MP Materials' Mountain Pass, Calif., site — EV and battery capacity is being planned without regard to the serious shortage of necessary raw materials. Automakers, anxious to avoid a replay of the production halts forced by the chip shortage, are in "a quiet mad rush" to line up lithium, permanent magnets and other key materials for EVs, MP Materials CEO James Litinsky said in a Jan. 25 Baird technology conference presentation. Nevertheless, Litinsky feels sure, "There's going to be a freakout moment" — perhaps multiple moments — when the EV supply chain fails spectacularly. That freakout moment may come soon. Morgan Stanley analyst Adam Jonas wrote on March 8 that he sees "an ever-widening gap" between feasible supplies of lithium battery metals and ambitious EV production targets. GM aims to sell 1 million EVs in North America in 2025. Jonas sees around 300,000 as realistic. Ford has a 2 million EV output target for 2026, four times what he expects. Tesla (TSLA), which seems to announce a new nickel or lithium supply deal every month, and Chinese EV makers have been "locking up the capacity slots," Jonas wrote. Tesla CEO Elon Musk has mulled getting into lithium mining directly on multiple occasions. EV and battery giant BYD (BYDDF), backed by Warren Buffett, recently won a Chilean lithium extraction contract.
That new EV Hummer is the hotness. It will not fit in my garage though, so maybe that Hyundai will be a better fit
lol @ stockjock-e... still too many issues & major expenses w/electric & if i did than would def be tesla - love the clean lines of that car but read about someone blowing his up after he got hit with i think it was $25K for repairs + have never owned anything but manual but getting harder to find them as years go on - only 1 new in entire state back in 2020 so prob not until i'm forced.
I voted yes although I am not sure if I will be buying a new car in foreseeable future since my current car is working just fine but my next car probably will be EV when I need to buy one
