California is aiming to ban sales of new gas-powered vehicles by 2035, and Morgan Stanley has two stock picks for those willing to play a long game.
One is, of course, Tesla Inc. (TSLA) the electric-car maker based in California. The other “best positioned on this announcement” is Aptiv PLC (APTV) the global auto-parts company based in Dublin, Ireland, Morgan Stanley said.
Morgan Stanley’s analyst Adam Jonas said in a note Thursday he’d expect Tesla post “Battery Day” to “embark upon a campaign to find support from state and national governments world-wide to adopt his industrial battery capacity plans.” Tesla held the event on Tuesday.
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Aptiv “has a leading (and potentially dominating) position in electric-vehicle architecture” and safety features, Morgan Stanley said in note earlier this month.
Shares of Aptiv