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3 Chip Stocks That Will Benefit from the Electric Vehicle Revolution -Breaking

by Mike Robinson

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© Reuters. The Electric Vehicle Revolution Will Have 3 Benefits for Chip Stocks

Stocks of electric vehicles have performed well over the years. This trend is likely to continue in semiconductor stocks. NXP Semiconductors N.V. (NASDAQ) and ON Semiconductor Corporations (ON) are worth considering. Electric vehicles (EVs), have been among the best-performing industries for the last three decades. The Nio (NYSE) has seen a remarkable 440% increase and Tesla (NASDAQ) more than 1,600%.

As the U.S. infrastructure law recently passed, money has been allocated for EV charging. Moreover, automakers have made significant investments in EVs. They plan to introduce new lineups within the next few years.

EV manufacturers aren’t the only companies that stand to benefit. Many modern EVs contain over 3,000 silicon chips. Therefore today I’m going to take a look at three chip stocks, NXP Semiconductors N.V. (NXPI), ON Semiconductor Corporation (ON), and Intel Corporation (INTC), which should continue to benefit as the EV industry grows.

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