Electrify your portfolio with these charged up EV stocks

The price and performance of battery-powered automobiles will soon match conventional vehicles as the industry shifts into high gear

Vikram Barhat 4 December, 2019 | 1:25AM
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Electric vehicle charging

It’s been another strong year for the electric vehicles industry which saw multiple launches from global auto manufacturers. Two of the newest arrivals hit the market just last month when Ford Motor unveiled its all-electric crossover SUV Mustang Mach-E, mounting a challenge to Tesla which also rolled out its much-hyped electric pickup truck in a bid to expand its EV offerings and consolidate its market dominance.

With old-guard automakers joining the frenzy over battery-powered vehicles, the forecast for the global EV market has never been brighter. By 2030, battery-powered electric vehicles will account for one out of every five cars (20%) sold, says Morningstar equity analyst Seth Goldstein. Part of that growth is fuelled by the rapidly falling battery prices. In fact, both the price and performance of EVs are projected to reach parity with conventional vehicles by 2025.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
General Motors Co55.58 USD1.79Rating
Nissan Motor Co Ltd ADR1,545.00 ARS0.00
Tesla Inc583.13 USD2.00Rating

About Author

Vikram Barhat

Vikram Barhat  Vikram Barhat is a Toronto-based financial writer specializing in investing, stock markets, personal finance and other areas of the financial services industry. He also writes for CNBC, BBC, The Globe and Mail, and Toronto Star.

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