Global electric-vehicle sales will grow 50% or more next year, while sales of internal combustion engine vehicles are expected to grow 2% to 5%. That’s the view of analysts at Morgan Stanley, who in a note to clients on Friday also predicted that global EV penetration would top 4%, rising to 31% by 2030.
The year 2021 “is shaping up to be a critical year for EV adoption and (internal combustion engine) de-adoption that will dictate the pace of multiple expansion, contraction, consolidation and proliferation” among the stocks, Morgan Stanley analyst Adam Jonas said in the note.
Despite the momentary dips amid stock offerings, EV stocks are enjoying a 2020 stock surge that is more widespread than Nio’s jaw-dropping 2020 gains. Tesla is up 625% this year, while XPeng is up more than 111% and Li Auto around 100%.
Read the article at MarketWatch.