Electric Cars To Be 100% of Auto Market by 2040: Swiss Bank

So long gas guzzlers?

According to the United Bank of Switzerland (UBS) there’s a massive transition in the auto market underway. Traditional gas powered vehicle will be obsolete in 19 years, the bank predicts. By 2040, electric cars will account for 100% of the auto market.

Though car companies will battle for dominance as the best electric vehicle, UBS recommends investors consider investing in the battery companies something I also recommended last December in my podcast. If you are not subscribed, make sure you download and subscribe by clicking here:

UBS Stock Picks in Battery Space

According to a UBS note to clients, there will be a shortage of car batteries by 2025 thanks to the increased demand for electric vehicles. The bank’s research team concludes that the top 3 leaders in the battery space may ultimate control the bulk of the market. They like three companies, all out of Asia, and recommended buying:

1. LG Chemical (Korean manufacturing company and leader in EV batteries)
2. China’s Contemporary Amperex Technology Co., Limited. (CATL)
3. China’s Yunnan Energy New Material (manufacturer of materials for the sector.)