Electric vehicles accelerate again driven by rising fuel costsCaterpillar Inc.BATS:CATActivTradesIon Jauregui - Analyst at ActivTrades The global electric vehicle market is regaining prominence in 2026, supported by a key factor: the sustained increase in fuel prices. After months of uncertainty regarding a slowdown in the sector, recent data reflects renewed momentum in sales and a structural shift that continues to consolidate. In 2025, electric vehicles reached around 25% of global sales, and the trend remains upward this year. China remains the undisputed leader in the sector, although it shows some internal weakness following the withdrawal of subsidies. However, its export capacity continues to grow, increasing competitive pressure in international markets. Europe is also reflecting this change in trend. Rising fuel costs have accelerated demand for electric vehicles, with a 49% increase in March and a market share close to 19%. United Kingdom stands out within the region with a 23% penetration rate. In Asia, adoption is advancing at a faster pace. Singapore leads with 56%, followed by Thailand (28%) and Indonesia (21%). At a structural level, the trend is clear: internal combustion vehicle sales have been declining since 2019, while the global electric fleet is doubling approximately every 18 months. Corporate drivers: batteries, scale, and margins Within this context, market focus is shifting toward major players capable of capitalizing on this second wave of growth: CATL The Chinese battery giant continues to act as the backbone of the global electric ecosystem. Its competitive advantage is based on economies of scale, vertical integration, and leadership in LFP battery technology—key factors in a cost-compression environment. CATL functions, in market terms, as a leading indicator for the sector: its ability to reduce prices without eroding margins is critical to accelerating mass adoption. The focus remains on competitive pressure and the slowdown in the domestic Chinese market. Technical Analysis (AT: CAT) The long-term structure remains clearly bullish. In the medium term, after reaching highs in February, the price entered a corrective phase with sideways movement, serving as a consolidation process. On March 31, a new upward impulse was triggered, pushing the asset to recent highs of $830.79. Currently, the price remains in a free rise, supported by a favorable moving average crossover and trading above the 50-period moving average, reinforcing the bullish bias. RSI stands in overbought territory (70.5%), indicating strength but with potential for a technical pause. MACD remains in positive territory with a stable histogram, suggesting momentum continuation, albeit with contained volume. Technical scenario: Immediate resistance: $840 First support: $788.31 Key supports: $661.59 and POC zone at $576.61 As long as it remains above the first support, the structure continues to favor bullish extensions, contingent on earnings. Tesla Tesla is entering a transition phase after years of exponential growth, prioritizing volume over margins through price adjustments. This strategy pressures short-term profitability but strengthens its positioning in the race toward “triple parity.” The market remains focused on software monetization and production efficiency as key drivers. Technical Analysis (AT: TSLA) The underlying trend remains bullish, although the asset is undergoing an adjustment phase in the short and medium term. After peaking at $498.83, the price developed a structure of lower highs and lower lows, finding a bottom on April 9. In recent sessions, Tesla has attempted to recover key levels, closing at $376.30, although it has not yet reclaimed the lost support zone at $382.78. Moving average crossovers indicate a bearish bias in the short term, reflecting recent selling pressure. Indicators: RSI in neutral territory, without extreme signals MACD converging toward equilibrium, with a decreasing bullish histogram Technical scenario: Key recovery zone (POC): $435 Immediate resistance: $382.78 Key support: $337.24 The asset is in a high-volatility phase, with potential short-term sideways movement. Trend reversal will depend on sustained recovery of resistance levels. General Motors General Motors continues executing its transition toward electrification, supported by modular platforms and economies of scale. Although progress is slower than pure players, the market values its cash generation capacity and diversification. The main challenge remains balancing investment with margin preservation. Technical Analysis (AT: GM) The long-term structure maintains a bullish bias, although the price is currently in a compression phase, narrowing between the 50 and 100 moving averages. This consolidation is supported by the 200 moving average, forming a key technical zone around the point of control at $81.21. The February highs at $87.62 remain a key reference. A sustained breakout above the POC, supported by a strengthening moving average crossover, could enable a new bullish leg toward those levels. Indicators: RSI in neutral territory (52.58%), with no clear directional pressure MACD positive but weak, suggesting early momentum pending confirmation Technical scenario: POC / key support: $81.21 Main resistance: $87.62 The asset is in a definition phase, with bullish potential dependent on fundamental catalysts, particularly earnings. The ActivTrades US Market Pulse indicator signals balanced risk following a previous week marked by institutional inflows, suggesting potential upcoming shifts after this technical pause in positioning, possibly materializing this week. Market conclusion The resurgence of electric vehicles is not merely cyclical but structural. The combination of elevated energy prices, technological advancements, and regulatory pressure is realigning the sector’s fundamentals. In this environment, the value chain—from batteries to manufacturers—will be निर्णative. It is precisely here where names such as CATL, Tesla, and GM are concentrating market attention in this new phase of the cycle. ******************************************************************************************* The information provided does not constitute investment research. 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