Key Points:
- Goldman Sachs predicts that as the electric vehicle (EV) industry expands, two groups of companies will come out on top.
- The first group consists of legacy automakers like General Motors, Ford, and Volkswagen, who are investing heavily in EV technology to transition their existing fleets to electric.
- The second group is made up of EV pure-plays like Tesla, Nio, and Lucid Motors, who have a laser focus on electric vehicles and are rapidly gaining market share.
- Goldman Sachs also identifies the battery producers, particularly those with their own technology and manufacturing capabilities, as essential players in the EV industry.
- These predictions come as competition in the EV sector intensifies, with established automakers ramping up their efforts in response to Tesla’s success and emerging players gaining momentum.
Hot take:
Goldman Sachs has identified the key players in the electric vehicle industry and placed their bets on two groups of companies. It’s a race between the legacy automakers and the EV pure-plays, with battery producers also playing a crucial role. As competition heats up in this rapidly expanding sector, it’ll be interesting to see which companies come out on top. Will the established giants catch up to Tesla, or will the EV startups continue to gain ground? Only time will tell.
Original article: https://www.cnbc.com/2023/08/21/goldman-names-6-stocks-set-to-prevail-amid-intense-competition-for-evs.html