Morgan Stanley says cheaper EVs are coming — and names the global stocks set to benefit
As electric cars become increasingly popular, a new manufacturing technique that could make them more affordable is garnering interest, according to Morgan Stanley. Automakers are increasingly turning to one-piece aluminum casting and unibody design as a way of reducing weight and costs, according to the Wall Street bank's analysts. Previously, low manufacturing efficiency had prevented the widespread adoption of such methods.
Asian automakers are outsourcing this process which could benefit three leading parts suppliers, according to Morgan Stanley: The investment bank is overweight on Wencan, which it says has taken the lead in this sector. The company started delivering rear floor parts for NIO 's ET5 model and expect further projects from Li Auto and Huawei in 2023. As a result, Morgan Stanley expects the Shanghai-listed buy-rated stock to rise by 18% to 78 Chinese Yuan over the next 12 months.
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