Electric vehicles are the future but car stocks are overpriced and played out. Where should you invest for EV stocks and returns? Get your FREE stocks on MooMoo with this special offer https://mystockmarketbasics.com/moomoo
Bloomberg estimates there will be more than 40 million electric vehicles on the road by 2040, more than a third of all car sales. That kind of growth will drive huge profits for companies in the space but the carmakers have already priced much of that into the stock. Shares of Tesla trade for 340-times earnings and even the traditional car stocks have soared over the last year.
The real money in EV stocks will be from investing in the companies nobody is watching. In this video, I’ll reveal two themes in electric vehicle investing and seven stocks to watch.
The first theme I think is about to head into overdrive for EV stocks is charging stations. Being able to charge electric vehicles has really been THE hurdle to growth in car sales …a kind of chicken or the egg problem. There are just over 40,000 public charging stations in the United States with the majority on the coasts. That compares to over 150,000 traditional gas stations. More than $7.5 billion of the recent $1.2 trillion infrastructure bill signed in November is earmarked to build 500,000 charging stations by 2030. Companies applying for funding under the bill have to build charging stations compatible with all EV cars…helping to drive that supply of public charging. What I think happens, is you start hearing the EV charging stocks talking about funding from the bill. They’ll start reporting how much funding they get to build out these stations and we could see revenue jump over the next several years.
This second theme and next four stocks is where we could see the most surprise upside, a huge deficit in supply of copper and other metals. On those 2040 projections, the International Energy Agency estimates supplies of lithium, nickel and other minerals will need to jump 30-fold to meet demand. And while most of the headlines are around the battery inputs, we could see a surge in copper demand. The average vehicle on the streets today holds just 51 pounds of copper, less than a third the amount needed for a battery electric vehicle and just two-thirds the need for a hybrid vehicle. The price of copper has come off highs set in May but could see real momentum higher over the next couple of years and many copper miners are already operating at strong profits.
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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
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