APTV - Electric vehicle industry seen benefiting under Biden

CFRA analyst Garrett Nelson thinks the electric vehicle industry could see a jolt under a Joe Biden presidency.Some of the key takeaways from Nelson's update (pre-election) on the EV sector are below. "In the event of a Joe Biden victory in November, we think auto manufacturers and suppliers focused on green and emission-free technologies, such as electric vehicles (EVs), would likely benefit.""We also think traditional automakers with largely union workforces would likely be among the biggest winners from tax incentives that would further stimulate the production and consumption of EVs.""More broadly, with the U.S.-Mexico-Canada Agreement in place, we consider the biggest change to the status quo could potentially be a shift in trade relations between the U.S. and China, as trade policy would likely be less hawkish." Companies identified by CFRA with positive implications of a Biden victory include Aptiv (APTV), BorgWarner (BWA), Ford (F), General Motors (GM), Tesla (TSLA)

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Electric vehicle industry seen benefiting under Biden