Following its announcement of an upcoming battery that can deliver a range of 400 miles on a single charge and last 1 million miles, Tesla’s stock jumped 13% on July 13 amid a resurgence of investor interest in makers of all-electric vehicles, also known as BEVs or Battery Electric Vehicles.
“Electric vehicle makers with names like Fisker, Karma and Rivian got jolts of new investment last week, at a time when Tesla’s rampaging stock price has made the sector unexpectedly hot. Analysts said the level of these investments — especially in the relatively untested Karma and Fisker — smacks of a hype cycle.
“‘The EV uprising is real, but the scale of investment into what I would view as fledgling companies is staggering,’ said Ram Chandrasekaran, a transportation analyst at consultancy Wood Mackenzie.”
Read the article at E&E News.