Electric vehicles are becoming more popular, and the market is set to reach $287 billion by 2025, the investment bank said in a recent report.
Morgan Stanley says tech supply chains are about to see growth in the next big thing: smart tech features such as electric vehicle batteries, chips and self-driving tech. Electric vehicles are becoming more popular, and the market is set to reach $287 billion by 2025 — as big as the PC market and about 60% of total smartphone revenue, the investment bank said in a recent report.
On top of that, the European Union plans to ban sales of new ICE vehicles by 2035 in order to reach its target of zero carbon emissions by 2050, the bank noted. Stock picks by sector The areas set for the most growth are semiconductors, power electronics — which are closely tied to EV growth — and optical and sensor tech, said Morgan Stanley.
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