🌎 EVs are taking over the world

When it rains EV news, it pours | Go, go gadget Europe |

Hi Reader, here's what you need to know for June 24th in 3:04 minutes.

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Today's big stories

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

Emission: Impossible

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.

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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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Live A Little

Live A Little

What’s Going On Here?

So there is fun to be had without logging onto Zoom: data out on Wednesday showed European business activity climbed at its fastest rate in 15 years in June.

What Does This Mean?

Monthly business activity surveys ask company purchasing managers how busy they’ve been compared to the month before, providing a near real-time snapshot of economic performance. And it was all good news for the eurozone, whose newfound growth was led by a manufacturing industry that now looks like it’s shaken off May’s sluggishness. Services activity continued to climb too, as the hospitality sector – and all the parched revelry-seekers – emerged blinkingly from lockdown. That uptick was particularly pronounced in Germany, which helped drive overall business activity in the eurozone’s biggest economy to its highest in a decade.

Why Should I Care?

For markets: Growing pains.
Economic growth came at a cost: the average prices paid by European managers for goods and services rose at their fastest since 2002. Suppliers are still struggling with both staff and stock shortages, and manufacturing and services companies alike are passing on higher costs to their customers. That may put more upward pressure on official inflation figures in the next few months. The European Central Bank reckons it’ll only be temporary, but investors are worried that if it persists, it could force the bank to raise interest rates and, in turn, drive down stock and bond prices.

The bigger picture: These shortages are a drag.
The most obvious victim of those recent global supply shortages are microchips, which doesn’t look like it’ll change anytime soon: new research this week showed that the average gap between ordering a chip and receiving that order widened to a record 18 weeks in May. That’s four weeks longer than 2018’s previous peak, and it’s more bad news for semiconductor-starved companies like carmakers.

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🙋 Ask a question

💬 Quote of the day

“The moment of victory is much too short to live for that and nothing else.”

– Martina Navratilova (a Czech-American former professional tennis player and coach)
Tweet this

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🎯 On Our Radar

  1. A blast from the past – in Street View. Google has preserved plenty of your late loved ones.
  2. More than a trading app. InvestEngine DIY lets you take control of your portfolio and grow your wealth.*
  3. “Man, the unwise, the tasteless.” There are more important things than humanity.
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  5. So long, NCAA. The US Supreme Court says amateur hour is over.

When you support our sponsors, you support us. Thanks for that.

🌏 Finimize Live

💄 Beauty stocks are looking attractive

Beauty stocks have been sitting in their house, lounging around in their sweats for the last year. But now they’re ready to hit the town again: join Jefferies’ managing director on June 30th for How To Give Your Portfolio A Beauty Makeover, and find out how to make your portfolio… on fleek?

🤑 How To Earn A Passive Income From Crypto: 12pm NYC time, June 24th
🌿 Why Now’s The Time To Invest In Cannabis: 6pm UK time, June 28th
🍔 How To Make Money Going Meat Free: 6pm UK time, June 29th
💄 How To Give Your Portfolio A Beauty Makeover: 6pm UK time, June 30th
🔥 How To Drive Change From Within: 6pm UK time, July 1st
💡 Finding Wisdom In A Crowd: 2pm UK time, July 2nd
🤑 How To Bet On Bitcoin’s Next Run: 2pm UK time, July 6th
🌎 How To Profit From Diversity And Inclusion: 5pm UK time, July 7th
😎 How To Craft Your Own Trading Strategy: 6pm UK time, 8th July
🤔 What Does Inflation Mean For Your Portfolio: 2pm UK time, July 15th
📈 How To Protect Yourself From Rising Prices: 6pm UK time, July 26th

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