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However, this investment falls short of the estimated $50 billion needed to reach the production and sales target.
In addition, a global semiconductor chip shortage has harmed the EV industry with increased production costs and supply chain bottlenecks. Given this backdrop, we believe that the shares of fundamentally weak EV companies Enovix Corporation (ENVX), FREYR Battery (FREY), and CBAK Energy Technology, Inc. (CBAT), are best avoided now.
