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Stock impact report

Why Is Enovix Corporation (ENVX) the Best Small Cap EV Stock to Invest In? [Yahoo! Finance]

Enovix Corporation (ENVX) 
Company Research Source: Yahoo! Finance
An Overview of the Global Electric Vehicle Market The global electric vehicle (EV) market continues to expand, driven by the need for sustainable transportation and advancements in technology. According to the International Energy Agency (IEA), nearly 14 million electric cars were sold worldwide in 2023, marking a 35% increase from the previous year, with 95% of these sales occurring in China, Europe, and the United States. This surge brought the total number of electric vehicles on the road to 40 million. Electric cars represented about 18% of all car sales in 2023, up from 14% in 2022 and just 2% in 2018. The growth is primarily driven by battery electric vehicles, which made up 70% of the electric car stock in 2023. The electric vehicle market is expected to expand rapidly as consumer demand for cleaner transportation grows. Electric car sales are expected to rise to about 17 million in 2024, which would be an increase of over 20% compared to 2023. Electric vehicles could ma Show less Read more
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