According to most demand projections, electric vehicle (EV) stocks have a bright future. One forecast, for example, believes EV sales should comprise nearly one-third of all new car sales in the U.S. by 2030. That’s up from just 3.4% in 2021.
Tesla (NASDAQ: TSLA) in particular is in a prime position. It’s better funded than the competition. Plus, the company has a bigger and more diverse lineup than other EV makers. But there’s one emerging growth opportunity that could allow Tesla stock to help set you up for life.
It’s not easy to start an electric car manufacturing business. It’s even harder to scale this type of business into something successful. At least 30 EV makers over the last decade alone have either gone bankrupt or faced complete collapse at some point.