$NikkoAM-STC CN EV S$(EVS.SI)$
1. New-energy heavy trucks
The sale of new-energy trucks in January 2021 was up 13-fold from the same time last year, Truck stories according to cvworld.cn, a website that tracks the commercial vehicle industry. This is largely due to battery swapping technology. According to a Bloomberg analyst, sales of new-energy trucks is set to grow and take the trajectory of electric buses which “went from 4,300 in 2013 to over 100,000 in 2018.”
2. Big profits for lithium manufacturers
Ganfeng Lithium estimated “an up to 437% yearly surge in its 2021 net profit to reach as much as 5.5 billion yuan” and Tianqi Lithium said it “expects a steep rebound in net profit for 2021” of around 1.8 to 2.4 billion yuan, according to a Caixin report. Both companies are components in EVS.
3. CATL: Contemporary Amperex Technology
Be part of the CATL growth story. The battery maker is one of China’s most valuable companies, behind Moutai.
4. Buffet-backed BYD
BYD sold almost 93,000 plug-in cars in January 2022, which makes it a consecutive month record, according to InsideEVs.
And, if all the above aren’t solid enough reason, there is also state support for the green technology sector in China.
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