INSANE: 1 ev stock under 5 with 90 upside potential | Rare Historical Photos

After the recent COP28 meeting yielded a historic agreement to begin phasing out fossil fuels, it's worth taking a look at some opportunities in the electric vehicle (EV) space. While the industry has struggled in 2023 amid sluggish demand and an ongoing price war that has dented the margins of even mega-cap Tesla (TSLA), there's substantial opportunity for growth in the years ahead. 

Specifically, the International Energy Agency (IEA) expects EV adoption to wipe out 5 million barrels per day of oil demand by the end of this decade, and the EV industry is expected to expand at a CAGR of 15.9% through 2035, to reach 51.6 million vehicles sold. The Inflation Reduction Act in the US has seen more than $100 billion in investment in the EV sector.