In terms of convenience, 41% of Americans are within 10 miles of an EVgo charger. In California, 83% of residents are within 10 miles of an EVgo charger.

Electric vehicle stocks EVgo Inc and Nio Inc were surging yesterday, up 11.3% and 16.2%, respectively.

With the gradual phasing out of fossil-fuel-powered vehicles, the EV industry is expected to grow significantly over the long-term. However, not all stocks in the sector are well-positioned to capitalize on the industry tailwinds.