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The global EV batteries plant construction market is experiencing robust growth, driven by increasing demand for electric vehicles as consumers and governments seek to reduce carbon emissions. The market, valued at $13.6 billion in 2024, is projected to reach $26.5 billion by 2030, with a compound annual growth rate of 11.8%. This expansion is supported by government incentives like subsidies and tax rebates, alongside innovations in battery technology, such as solid-state batteries, which are transforming production processes and facility requirements. As countries like the U.S., China, and those within the European Union set ambitious EV adoption targets, investments in state-of-the-art battery manufacturing plants are accelerating, emphasizing sustainable practices such as recycling and energy efficiency.
In other market news, Uno Minda was trading firmly up 5% and ending trading at ₹992.80. At the same time, Elite Material lagged, down 9.9% to end trading at NT$553.00.
Best EV Stocks
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Tesla ended the day at $404.60 up 1.1%.
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Ford Motor finished trading at $10.08 down 0.8%.
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NIO settled at $4.32 down 2.7%. NIO announced on February 1st that it delivered 13,863 vehicles in January, a 37.9% year-over-year increase.
Summing It All Up
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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