One major issue that has plagued the electric vehicle industry over the past couple of years has been global supply chain issues. This has caused several prominent automakers to delay or reduce production goals, which has had a direct impact on their stock prices. Earlier this week, EV startups Rivian (NASDAQ: RIVN) and Lucid (NASDAQ: LCID) both confirmed 2022 production goals which is a nice step in the right direction for the industry.
Nearly every automaker from Tesla (NASDAQ: TSLA) to Ford (NYSE: F) has had some sort of production problem this year. This has led to rising costs and a direct hit to margins. With Lucid and Rivian confirming production targets, the industry could finally be moving past the supply chain issues that came as a result of the COVID-19 pandemic.
This is also positive news for newer players in the sector like iQSTEL (OTCQX: IQST). The company announced earlier this year that it would be producing its first electric car through its EVOSS subsidiary. iQSTEL and EVOSS already produce an electric motorcycle and are making the leap to fully electric cars as a way of capturing a share of the rapidly growing market.
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