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According to a research report from Allied Market Research, the global electric vehicle market was valued at $162.34 billion in 2019 and is forecast to touch $802.81 billion by 2027, indicating a compound annual growth rate of 22.6% in this period.
So, the recent pullback provides investors an opportunity to buy quality growth stocks at a lower multiple. Keeping these factors in mind, let’s see which between Tesla (TSLA) and Lucid Group (LCID) is a better EV stock right now. While the former is an established player and a market leader, the latter is just starting to take off.
