California Bans New Gas-Powered Cars in 2035

Talk about a bold position to take. California Governor Newsome just announced today that he's ordered the Air Resources Board to ban new gas-powered cars 15 years from now.

https://calmatters.org/environment/2020/09/california-ban-gasoline-powered-cars-in-2035/

Whether this is the right move or not, it sends a clear signal to the market that the time to invest in electric vehicles is at hand. A ban of this size in one of the world's primary vehicle markets is not going to end here. There will be others to follow suit as the time approaches as well.

That said, the EV stocks took a hard hit today, led by Tesla and its inability to capture the momentum it's embraced for the past few months. While this dip may still prove to be too early, it might be time to start speculating in some of the EV names.

Posted Using LeoFinance