80% Of The Cars On The Road Will Be EVs In Less Than 10 Years, Tom Steyer Says
Portfolio Pulse from Aaron Bry
Billionaire Tom Steyer predicts that by 2030, 80% of cars on the road will be electric. This could be beneficial for EV makers like Tesla and Rivian, but less so for traditional automakers like Toyota and Ford, due to lower margins on electric cars. Steyer's comments were made at a recent Axios event, where he also stated that a potential Trump victory in 2024 would not deter investments in clean energy.
October 25, 2023 | 8:04 pm
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POSITIVE IMPACT
Rivian could benefit from the predicted increase in electric vehicles on the road by 2030.
As an electric vehicle manufacturer, Rivian stands to benefit from an increase in the adoption of electric vehicles. This could lead to increased sales and potentially higher stock prices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla could benefit from the predicted increase in electric vehicles on the road by 2030.
As a leading electric vehicle manufacturer, Tesla stands to benefit from an increase in the adoption of electric vehicles. This could lead to increased sales and potentially higher stock prices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ford could be negatively impacted by the predicted increase in electric vehicles on the road by 2030 due to lower margins on electric cars.
As a traditional automaker, Ford could face challenges with the predicted increase in electric vehicles due to lower margins on these cars. This could potentially lead to lower profits and a decrease in stock prices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Toyota could be negatively impacted by the predicted increase in electric vehicles on the road by 2030 due to lower margins on electric cars.
As a traditional automaker, Toyota could face challenges with the predicted increase in electric vehicles due to lower margins on these cars. This could potentially lead to lower profits and a decrease in stock prices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80