Goldman Sachs estimates electric vehicles will represent 32 percent of global auto sales by 2040. The firm's analyst projects the battery market will grow to $180 billion in sales by 2040 from just $450 million in 2015. The trend is likely to be a negative one for auto suppliers that make engine parts that electric vehicles don't use. Here are five Goldman Sachs buy-rated stocks the firm recommends to take advantage of the electric vehicle trend. Geely, VW, Honda, LG Chem, Albemarle (ABL)
Goldman: How to play the electric vehicle boom
Volkswagen, the German auto giant, is preparing for a swift expansion in its output of electric cars next year — and the biggest jump in production will be in China. General Motors is making China the hub of its electric car research and development. Renault-Nissan, the French and Japanese carmaker, and Ford Motor have hustled to set up joint electric-car ventures in China.
China’s electric car push lures global auto giants, despite risks
VW has announced that it is investing $84 billion in electric cars and batteries. The German manufacturer announced the change to its investment strategy tonight at a pre-Frankfurt Motor Show 2017 event. Earlier this year, VW announced it was investing $10 billion in EVs but has tonight changed its investment strategy. Of this, $50 billion will be invested in battery production in order to support its ambitions to create a vast range of electric vehicles.
Volkswagen approved a 34 billion euro ($40 bln) spending plan on Friday that accelerates its efforts to become a global leader in electric cars. The world’s largest carmaker by unit sales will spend the money on electric cars, autonomous driving and new mobility services by the end of 2022, it said after a meeting of its supervisory board.
Volkswagen accelerates push into electric cars with $40 billion spending plan
On Thursday, Tesla CEO Elon Musk didn't just announce his plans to remake the trucking industry. He also served notice to rail carriers. Unveiling Tesla's new Semi Truck, Musk crunched the numbers for the agog crowd: A traditional diesel truck can be operated for $1.51 a mile; the Tesla Semi, he said, beats that with $1.26. But it gets better. Using convoys — Tesla Semis yoked together with connected Autopilot technology, operating like road-going trains, with one semi as the leader — Tesla's cost drops to $0.85 a mile. "This beats rail," Musk said. He said Tesla could execute on convoying technology now, so it's really just a matter of a customer buying enough Semis to create the train.
Elon Musk just put the rail industry on notice - Business Insider