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Stock impact report

The EV Revolution Has Arrived. Investors Just Need to Know Where to Look. [Barron's]

XPeng Inc. American depositary shares, each representing two Class A ordinary shares (XPEV) 
Company Research Source: Barrons
Sometimes American investors, and car buyers, have been skeptical of the idea that the car business is undergoing an epochal transition from gasoline-powered personal transportation to battery-powered vehicles. They just don’t see enough EVs on streets to convince them. But evidence of rapid change is everywhere. Investors just need to know where to look. On Tuesday, the U.K. Society of Motor Manufacturers and Traders released June registration data. Battery electric vehicles accounted for 16% of new car sales in June, up from about 11% a year ago. “Electric vehicle demand continues to be the one bright spot, as more electric cars than ever take to the road,” said SMMT CEO Mike Hawes in a news release. “With motorists facing rising fuel costs …the switch to an electric car makes ever more sense and the industry is working hard to improve supply and prioritize deliveries of these new technologies given the savings they can afford drivers.” While U.K. EV penetration is on the rise, Show less Read more
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