Morgan Stanley: The EV Battery Economy is the ‘New Oil’

Morgan Stanley: The EV Battery Economy is the ‘New Oil’

CNBC (YouTube Video)

November 18, 2021

Analysts at Morgan Stanley, one of the world’s largest investment banks, liken the nascent market for electric vehicle batteries to the dawn of the oil industry more than a century ago. They foresee an industry that can top $500 billion by 2040. “There are a lot of names because, in order to meet electric vehicle goals, entirely new supply chains need to develop, especially around batteries,” according to CNBC. Leaders in the space range from mining companies like Charlotte’s Albemarle Corp to semiconductor manufacturers, legacy OEMs such as Ford and GM, and newly-minted firms that work with battery disposal and recycling.

Watch the video here.