This Sector Is Set to Explode
Amanda Heckman|October 2, 2021
![A new Tesla Model 3](https://totalwealthresearch.com/wp-content/uploads/2021/10/A_new_Tesla_Model_3.jpg)
There’s a massive shift coming to the auto sector… and some major players may have just put the pedal to the metal.
If you’ll recall, back in August, President Biden signed an executive order targeting the industry. He demanded that half of the vehicles sold in the United States be battery electric, fuel-cell electric or plug-in hybrid by 2030.
And with demand growing worldwide (in 2021, electric car sales rose by 140% in the first three months of the year), many carmakers are well ahead of him.
Speeding Up
General Motors is investing $35 billion in electric and autonomous vehicles and plans to introduce more than 30 electric vehicle models worldwide by 2025.
And just this week, Ford made a huge announcement about speeding up its electric vehicle production. It’s going all-in, with plans to build a giant new factory to produce electric pickup trucks, plus three new gigafactories to produce batteries.
The $11.4 billion investment, called “Blue Oval City,” includes a partnership with SK Innovation, a large, Korea-based battery cell-maker.
The plans signal just how seriously Ford is committed to EVs. As CEO Jim Farley said in an interview, “This is a new Ford. This is show, not tell time.”
And Ford’s not the only carmaker going all-in.
It’s Electric
This week, Rolls Royce unveiled the prototype for its first electric model, called the Spectre. The two-door coupe will be ready to roll out of dealerships by the end of 2023.
But even bigger news is the company’s plan to go completely electric in less than a decade (by 2030).
It’s a long time coming for the luxury carmaker, which has flirted with electric models in the past. Those plans were put in neutral due to a lack of market demand… and limited charging options.
In the words of founder Charles Rolls, way back in 1900…
The electric car is perfectly noiseless and clean. There is no smell or vibration, and they should become very useful when fixed charging stations can be arranged. But for now, I do not anticipate that they will be very serviceable – at least for many years to come.
Well, Mr. Rolls, buckle up.
Charging isn’t a problem anymore… not when every parking garage, grocery store and library is rolling out charging stations. And there was recently a huge advance in one of the biggest pain points in EV charging.
Charging Forward
ABB (ABB) – a stock in the Manward Letter portfolio – announced it has launched the fastest electric car charger on the market. The device can charge up to four vehicles at once… and can fully charge a single car within 15 minutes. And in just three minutes, a car can be charged enough to cover a 60-mile distance.
That’s a huge draw for current and future EV owners who don’t have their own charging stations.
The company is filling a crucial need. Per Frank Muehlon, president of ABB’s e-mobility division…
With governments around the world writing public policy that favors electric vehicles and charging networks to combat climate change, the demand for EV charging infrastructure, especially charging stations that are fast, convenient and easy to operate, is higher than ever.
Sitting for hours in a parking lot waiting for a charge will soon be in the rearview mirror. ABB’s device will make EVs more accessible to a broader market.
Investors should be excited about these new developments in the EV sector and the profit potential that comes with them.
In fact, Manward’s newest contributor, Alpesh Patel, is quite bullish on the sector. He sees the EV industry having the potential for “explosive upside” over the next five years.
So keep an eye on these developments and the companies that are bringing the EV industry to the front of the auto pack.
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Amanda Heckman
Amanda Heckman is the editorial director of Manward Press. With unrivaled meticulousness, she has spent the past 15 or so years in the financial publishing industry. A classically trained musician and a skilled writer in her own right, Amanda takes an artistic approach to the complex world of investing. Her skill has led her to work with numerous bestselling authors, award-winning financial gurus, and – lucky for us – the fine folks at Manward Press.