Tim Walz Could Be Good For Electric Vehicle Stocks: 'You Need To Skate Where The Puck Is Going To Be. The Puck Is Going To Be In EVs'
Portfolio Pulse from Chris Katje
The 2024 presidential election could significantly impact the electric vehicle (EV) sector. A Trump victory might benefit Tesla (TSLA) due to Elon Musk's endorsement but could harm the broader EV market by potentially eliminating tax credits. Conversely, a Harris/Walz win would likely continue supportive policies for EVs, benefiting companies like Ford (F) and General Motors (GM), as well as ETFs like KARS and DRIV.
August 08, 2024 | 7:35 pm
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POSITIVE IMPACT
The Global X Autonomous & Electric Vehicles ETF could see gains from a Harris/Walz win, which would likely maintain supportive EV policies.
DRIV, which includes a range of EV stocks, would benefit from continued supportive policies under a Harris/Walz administration.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
The KraneShares Electric Vehicle and Future Mobility Index ETF could benefit from a Harris/Walz win, which would likely continue supportive EV policies.
KARS holds a basket of EV stocks that would benefit from continued supportive policies under a Harris/Walz administration.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Tesla could benefit from a Trump victory due to Elon Musk's endorsement, potentially leading to favorable policies. However, Musk's support for Trump might also hurt Tesla if customers and partners pull back.
Trump's potential policy changes could favor Tesla, but Musk's endorsement of Trump might alienate some customers and partners, creating a mixed impact.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Ford could face setbacks if Trump is elected, as he might undo EV-supportive policies. A Harris/Walz win would likely continue supportive policies, benefiting Ford's EV investments.
Ford has invested heavily in EVs, and a rollback of supportive policies under Trump could harm these investments. Conversely, continued support under Harris/Walz would be beneficial.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
General Motors could be negatively impacted by a Trump victory due to potential policy rollbacks. A Harris/Walz win would likely support GM's EV initiatives.
GM's significant investments in EVs could be at risk if Trump rolls back supportive policies. A Harris/Walz administration would likely continue to support these initiatives.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 80