In This Article:
Recent developments in the electric vehicle (EV) sector highlight significant growth in the EV battery swapping market, projected to reach USD 2.8 billion by 2029. This surge is driven by advancements in technology, growing consumer demand, and supportive government policies aimed at expanding battery swapping infrastructure, notably in regions like China and India. The market benefits from the need to reduce EV charging times and enhance convenience, particularly for commercial fleets and urban areas. As electric vehicle adoption continues to rise globally, this technology presents a viable alternative to traditional charging methods, with implications for battery standardization and increased accessibility through subscription-based models.
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Gotion High-techLtd last closed at CN¥20.69 down 1.1%.
Elsewhere in the market, VinFast Auto was trading firmly up 6.3% and closing at $4.06. Meanwhile, Tata Motors lagged, down 7.4% to finish the session at ₹697.00, hovering around its 52-week low. On Wednesday, the company announced its third-quarter earnings, showing increased sales and revenue but a decline in net income compared to the previous year.
Best EV Stocks
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NIO closed at $4.44 up 5.2%.
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Tesla closed at $400.28 up 2.9%. This week, Tesla announced quarterly earnings showing a drop in net income despite an increase in revenue year-over-year.
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Ford Motor closed at $10.16 down 0.5%.
Summing It All Up
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Click through to start exploring the rest of the 45 EV Stocks including Tube Investments of India, Lear and Subaru now.
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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.