The Green Tidal Wave: A New Era for Electric Vehicles

As the global movement towards greener and sustainable energy continues to grow, the electric vehicle industry has become a significant player in the trend. Tesla, as the leader, has been driving the change in the electric vehicle market for years. But now, it seems like “everyone else is paying rent,” according to Wedbush Managing Director Dan Ives. The electric vehicle market is gearing up for a new era, led by the much-awaited “Green Tidal Wave.”

The Green Tidal Wave is the next phase in the electric vehicle market, which is expected to take over traditional gasoline-powered cars. Leading the charge is Tesla, which has dominated the market for years with its superior technology and battery capacity. Tesla’s supercharger network has paved the way for the future of electric vehicles and given it a distinct advantage over its competitors. However, according to Ives, other companies are now starting to catch up.

Rivian is in the early days of a massive growth story, says Wedbush’s Dan Ives



EV startup Rivian (RIVN) saw its shares surge by more than 14% on Friday following a price target upgrade by Wedbush analyst Dan Ives. Ives stated that the EV maker is reaching “a major turning point” in its execution strategy, leading to an increase in Rivian’s stock price target from $25 to $30 per share.

The rally in Rivian’s stock has been ongoing for over a week, with share prices rising by over 80% since June 27, 2023.

After surpassing analyst expectations earlier this week by delivering 12,640 electric vehicles and producing 13,992 units in the second quarter, Rivian’s stock rose by over 13% alone. Since then, the upward trend in Rivian shares has continued.

The Green Tidal Wave is not just limited to new players such as Rivian. Established brands such as GM, Ford, and Mercedes are recognising the shift in consumer preferences and are now entering the electric vehicle market in a big way.

GM has announced plans to produce 30 electric vehicles by 2025, while Ford intends to spend $11 billion on electric cars through 2022. Mercedes has a range of electric vehicles, and their EQC SUV has just been released, and already surpasses expectations.

In Europe, automakers are starting to see increased success with electric vehicles. In a recent poll, over 50% of Europeans said they would choose an electric car over a petrol or diesel car. Companies such as Volkswagen and Polestar are already enjoying massive success in the European market, with Tesla rapidly expanding its presence.

The Green Tidal Wave has well and truly entered the electric vehicle market. With Tesla still leading the way, a host of new and established players are joining in, resulting in a highly competitive market. This has led to improved technology and battery capacity, driving the entire industry forward. With governments around the world placing an increased focus on sustainability, it’s clear that electric vehicles are here to stay. The Green Tidal Wave will continue to make a significant impact on the way we travel and the transportation industry as a whole as we move towards a more sustainable future.