Elon Musk: 12-18 month recession coming, page-28

People still buy lots of cars during recessions and sales have been on the decline for a few years anyhow and that hasn't affected EVs growth. If I was holding stocks in ICE auto companies, I'd worry about a recession but EVs are likely a different story. EVs still represent a small percentage of this graph and I suspect during a recession, they will still continue to grow strongly increasing their market share especially with all governments mandating their adoption.