Electric vehicles have hit the investor sweet spot
COLUMN: Lars Skovgaard Andersen, investment strategist with Danske Bank, sees attractive return potential in electric vehicles.
COLUMN: Lars Skovgaard Andersen, investment strategist with Danske Bank, sees attractive return potential in electric vehicles.
Public support is essential for the success of any new technology, because such support tends to influence politicians who, in turn, secure attractive conditions, facilitating the manufacture of the product and bringing it to market. Currently, EVs are enjoying a sweet spot backed by broad popular focus on the environment and climate change and by countries such as China and India supporting the trend in their efforts to reduce their dependence on oil imports (and of course to try to get the runaway air pollution under control). For example, India recently announced that by 2030, 30 per cent of its passenger transport must be powered by electricity.
Lars Skovgaard AndersenInvestment Strategist, Danske Bank
The distinction I’m making between electric vehicles and electric cars is completely intentional, by the way. Tesla may well have made it cool to drive an electric car, but the technology has a lot of innovative add-ons. One example is the electric scooters that have popped up in most major cities recently, or the electric bicycles which are now commonplace on our bicycle paths.
Lars Skovgaard AndersenInvestment Strategist, Danske Bank