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Some investors betting on overvalued Tesla rivals 'are going to get hurt,' a T. Rowe Price portfolio manager warns
16 days ago | By Business Insider
Summary List Placement Tesla's success and increasing government support for electric vehicles have created a wave of enthusiasm for young EV-makers. The result has been a rapid succession of EV startups going public through mergers with special-purpose acquisition companies - along with overinflated valuations, T. Rowe Price portfolio manager Joe Fath told Insider.
Fath said he believes that EVs will transform the auto industry, and that some EV companies will succeed in the long run. But, he said, the valuations most EV companies have received - some of them as high as $8 billion...
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