BofA names 8 stocks to watch as tech giants enter the EV race

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Employees work at the Tesla Gigafactory in Shanghai, east China, Nov. 20, 2020.

Ding Ting | Xinhua News Agency | Getty Images

Bank of America has highlighted a number of stocks to watch as tech giants enter the autos area amid a rising give attention to software program.

Electric automobiles have skilled a surge in recognition in the final decade as the world appears to be like to transfer towards extra sustainable types of transport. Electric automobiles account for roughly 2% of the international automobile market right now however a mixture of “client demand, economics, and environmental issues” might drive adoption to 10% by 2025 and 40-50% by 2040, in accordance to Goldman Sachs.

Elon Musk’s Tesla is at present at the entrance of the pack, however conventional automobile makers are doing their greatest to catch up and tech giants like Apple are additionally making moves in the sector.

Here are the stocks throughout each tech and autos that BofA thinks are price watching, as extra futuristic automobiles hit the roads:



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