Day: June 23, 2021

EVs Will Rule the World By 2040. Tesla Stock Isn’t the Only Winner.

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Piper is predicting the EV takeover of the global automotive industry will be complete in 19 years.


Ben Stansall/AFP via Getty Images

A lot of electric vehicles are going to be sold in the coming generation. That’s good news for

Tesla.

It’s also good news for a host of other auto makers, including some start-ups. It’s bad news, surprisingly, for

NIO

and its Chinese EV peers.

Tuesday, Piper Sandler analyst Alexander Potter published a very detailed forecast for EV sales stretching all the way out to 2040. He forecasts sales and market share for essentially every major auto maker globally.

“We have spent the past few months assembling a brand-by-brand, region-by-region forecast for battery electric vehicle (BEV) sales,” writes the analyst. Looking ahead, he forecasts EV penetration at 45% of new car sales by 2030 and 94% by 2040.

Potter is predicting the EV takeover of the

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