The electric vehicle market is no longer a niche market. What was once just a nod to the green movement is now the driving force of the automotive industry and is still a double-digit growth opportunity for investors.

Think about it; sales of ICE vehicles have rebounded from the 2020 to 2021 lows but remain well below the pre-pandemic level, while EV sales are growing by high-double-digits.

However, investors should be cautious. This is a shift in technology we're talking about, not a new growth market, which is why it is such a tough environment to invest in. The new tech may be hot, but the long-time OEMs are in the best position to win over the long term.

A secular shift is driving the strength of the market. The shift is away from ICE and fossil fuels into sustainable technology. That includes EV vehicles of all varieties but ultimately is a technological shift, not a new industry, so profitability matters more than growth. The major OEMs are already in place and in the best position to produce EVs at scale and show a profit.

In this report, MarketBeat analyst Thomas Hughes covers the regulations around EV, who's who in the industry, and all about battery technology. Click the link to get your copy.