The electric vehicle boom shows no signs of slowing.
By 2030, according to Morgan Stanley, battery-powered electric vehicle sales could make up 30% of the global market, as reported by MarketWatch.
However, that may be a conservative estimate, notes the firm.
But that’s because of other competing technologies, such as “hydrogen fuel cells, battery-cell supply-chain development, and government legislation changes.” The firm also noted that 15 to 20 countries have now implemented fixed dates for banning internal combustion engines.
“Europe is set to lead the way, with 40% BEV penetration in 2030, up from a previous forecast of 31%, reflecting the European Commission’s proposals to cut average new car emissions to 50% below 2021 levels by 2030.
And, “In the U.S. the analysts raised BEV penetration assumptions from 7% to 10% of the market in 2025, and from 14% to 25% in 2030—below the global average, which they put down to a lack of regulatory pressure.”
With that kind of growth, pay very close attention to lithium, which is needed in batteries.
Some of the top stocks you may want to keep an eye on include:
· Lithium Americas (LAC)
· American Lithium Corp. (LIACF)
· Albemarle Corp. (ALB)
· Sociedad Quimica y Minera (SQM)
· Piedmont Lithium (PLL)
Plus, consider this.
There may not be enough supply to meet all of the demand. According to Reuters, “the electric vehicle industry must pay more for lithium in order to spur investment and prevent future supply crunches of the battery metal, the chief executive of lithium producer Livent Corp said.” He added, “If every EV company took their 2023 plans and went to the lithium market today, they’d probably only get about 15% of their needed supply of lithium.”
The post Battery EV Sales Now Expected to Make Up 31% of Global Sales appeared first on Morningology.
