Read The Full Article On: Benzinga
Chinese electric vehicle stocks have seen some moderation in momentum in recent sessions. One upcoming catalyst could lift the stocks out of this lackluster phase: the January delivery numbers that are due next week.
Finding The Sweet Spot In China’s EV Market: China is a hot EV market, both from the perspective of the addressable market opportunity and supply.
“China is a greenfield EV market opportunity for many well positioned auto players as we believe overall EV sales can potentially double in the region over the next few years given the pent-up demand for EV vehicles from customers across all price points,” Wedbush analyst Daniel Ives said in a note.
Goldman Sachs analyst Fei Feng estimates EV penetration, including battery electric and plug-in hybrid vehicles, will increase from 5% in 2020 to 20% in 2025, 53% in 2035 and 80% in 2050.