Morgan Stanley: EV Batteries Are the ‘New Oil’

Morgan Stanley: EV Batteries Are the ‘New Oil’
General Motors assembly workers connect a battery pack underneath a partially assembled 2018 Chevrolet Bolt EV vehicle on the assembly line at Orion Assembly in Lake Orion, Mich., on March 19, 2018. Rebecca Cook/Reuters
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The global battery economy is poised to transform into the “new oil” and will alter international supply chains, Morgan Stanley analysts say in a report.

Equity analysts at the investment bank forecast that the battery economy could climb to $500 billion within the next two decades. This, they note, would be supported by greater penetration of battery-powered electric vehicle sales, projected to account for nearly one-third of the global market by 2030.

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Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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