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The North American EV market is expected to grow at a 37.2% CAGR over the period 2021 – 2028, aided by the rebounding semiconductor industry from a supply shortage and declining input costs.
Given the industry’s solid growth prospects, Wall Street analysts expect EV stocks Hyliion Holdings Corp. (HYLN), Electric Last Mile Solutions, Inc. (ELMS), and Workhorse Group Inc. (WKHS), which are currently trading at less than $10, to rally by more than 55% in price in the near term.
