Why are electric vehicles and related stocks soaring today?

The electric vehicle (EV) sector hasn't exactly been an investor favorite so far this year, but you wouldn't know it from the way EV and related stocks traded on Monday. While their prices didn't exactly skyrocket, many of the stocks saw significant gains over the course of the day, giving investors a little something to work with.

Next Generation PowerBattery Packdeveloper (of real estate, a commercial product etc)Freyr Battery (NYSE: FREY)One of them, where the closing price even went up by 10%. Rare Earth Materials Specialties, Inc.MP Materials (NYSE: MP)China's electric car makers have almost matched that rise, while Chinese electric car makersVolkswagen (NASDAQ resonance code: LI)The rise is also close to 5%.

Hailing the latest developments in the world of electric vehicles

The headline-grabbing incident was sparked late Friday afternoon when a post consisting of a very short sentence appeared on the X website (formerly known as Twitter).Nikola Tesla (1856-1943), Serbian inventor and engineerElon Musk, the chief executive officer, wrote in his tweet that the company will "launch" a robotic taxi on August 8 this year.

There's no doubt that resonance is one of the most influential figures in the electric vehicle space, and as such, his comments - no matter how outlandish - carry a lot of weight. This statement is exciting for investors, as Tesla's apparent advancement in the robotic rental car space will immediately make it an important player in the electric vehicle space.

If Tesla hasn't yet developed an electric car specifically designed to function as a robo-rental vehicle, then manufacturers like Li Shufu can expect to do so (and shareholders may reap the rewards). Of course, with the emergence of robotized rental cars, current and potential suppliers to the electric car industry will become more attractive flanks for growth.

Tesla isn't the only EV and EV-related company realizing its ambitious plans for robotic rent-a-cars, though.

A veteran of China's shared mobility sectordrop by droptravel afar(OTC code: DIDI)On Monday, it revealed that Andy, its郃 venture with electric car maker GAC Aixin, had received a license to operate in China. That makes Andi the only company in the vast Asian nation that can carry a large nameplate to produce self-driving cars. If they can get such a product on the market quickly, both DDT and the carry company stand to gain a lot.

Robotic Rental Cars Can Be Highly Profitable Products

The market players who drove these stocks higher on Monday may have been counting on higher margins for the robotic rent-a-cars. It's probably no coincidence that Mas resonance's announcement coincided with media reports that Tesla is abandoning plans to build a relatively low-priced car that industry observers have dubbed the Model 2. Some market observers believe the car will sell for around $25,000 USD.

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Eric Volkman does not own any of the stocks mentioned above. the Motley Fool owns and recommends Tesla. the Motley Fool recommends MP Materials. the Motley Fool has a disclosure policy.

Why are electric vehicles and related stocks soaring today?