Wedbush Securities has issued another bullish report on electric vehicles and Tesla Inc (NASDAQ:TSLA).

Growth Markets: The report makes the case for believing heavy growth is to come from Europe, the U.S. and, especially, China.

Europe is more determined than ever to cut emissions.

The incoming administration of U.S. President-elect Joe Biden wants to make inroads in combating climate change. Wedbush says tax credits and other incentives are likely on the way.

And demand in mainland China remains high. Wedbush predicts a doubling of EV sales there in the next few years and says that will greatly benefit Tesla.

Charging Ahead: The report comes as Tesla has announced it is investing $6.4 million to build a new charging-station factory in China.

Shanghai Gigafactory photo courtesy of Tesla.