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Today's big stories

A new study showed that electric vehicles will outsell traditional cars five years earlier than expected
Our analyst has looked into whether Wise’s upcoming direct listing is a good investment – Read Now
Business activity in the eurozone climbed at its fastest rate in 15 years

Emission: Impossible

What’s Going On Here?

A new study showed that electric vehicles (EVs) will outsell traditional cars five years earlier than expected – whether carmakers should choose to accept it or not.

What Does This Mean?

According to Ernst & Young (EY), the combined sales of EVs across the world’s three biggest car markets – Europe, China, and the US – will outpace gas-powered cars by 2033 (tweet this). Individually, though, they’ll hit that tipping point at different times: Europe in 2028, China five years later, and the US coming up the rear in 2036.

The milestone – dubbed “global EV supremacy” – is five years earlier than EY had previously predicted, which probably has something to do with more interest from drivers, as well as governments’ increasingly anti-emission stances. And the surprises didn’t stop there: EY said non-EV sales will represent less than 1% of the global car market by 2045, as more and more countries outright ban gas-guzzling jalopies.

Why Should I Care?

The bigger picture: It’s not just governments.
Carmakers are starting to lean into the inevitability of it all too. Take Honda: the Japanese conglomerate announced this week that it’ll completely phase out sales of traditional cars by 2040. It’s even staking a claim in the electric motorbike market, with plans to unveil three new all-electric models by 2024. Compare that to rival Japanese carmaker Toyota, which is still convinced that hybrid cars are the way forward.

For markets: When it rains, it pours.
There were two other big EV stories on Wednesday: Chinese EV-maker Xpeng Motors – which is already listed on the US stock market – announced plans to list on Hong Kong’s stock market via an initial public offering that could raise the company up to $2 billion. Then there was Embark Trucks: the company – which, deceptively, doesn’t manufacture EV trucks but their self-driving software – said it’ll be going public by merging with a special purpose acquisition company (SPAC) in a $5 billion deal.

You might also like: How to invest in the EV supply chain (and then some).

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2. Analyst Take

Is Wise’s Direct Listing A Wise Investment?

What’s Going On Here?

Money transfer giant Wise – formerly known as TransferWise – is gearing up for its much-anticipated stock market debut on the London Stock Exchange.

The question is: should you invest in this UK fintech success story?

There are reasons in its favor, for sure: it’s profitable and growing, the market is ripe for the picking, and ETFs – themselves reaching new heights – should help push up its stock price.

But there are reasons to steer clear too – not least the words “dual-class share structure”, which will give anyone familiar with Deliveroo’s calamitous IPO the shivers.

Plus, we don’t even really know what it’s going to be worth because it’s a direct listing.

So that’s today’s Insight: how to reach your own – potentially more accurate – valuation, and whether you should buy in or not.

Read or listen to the Insight here

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