Bulletin
Investor Alert

Market Pulse Archives

Jan. 19, 2022, 2:53 p.m. EST

An 'EV tipping point' is approaching, but that's not good news for Tesla: B. of A.

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Tesla Inc. (TSLA)
  • X
    Ford Motor Co. (F)
  • X
    General Motors Co. (GM)

or Cancel Already have a watchlist? Log In

By Claudia Assis

With several electric vehicles coming to the market by legacy and new auto makers soon, analysts at B. of A. Securities expect that a "tipping point" for EVs will happen this year, although higher prices would remain a constraint. The year 2022 "marks the start of commercialization for electric vehicles ... with many of start-up EV automakers launching/ramping new product and many of the incumbent automakers also beginning their product launch onslaught," the analysts said in a note Wednesday. B. of A. analysts said they expects about 1 million EVs sold in 2022, rising to about 1.8 million in 2023 and 3 million in 2024, implying EV penetration of around 6% this year, 11% in 2023, and 16% in 2024. Tesla Inc. /zigman2/quotes/203558040/composite TSLA +7.33% EV market share could fall to 19% by 2024, from 69% in 2021. Among "incumbent" auto makers in the U.S., Ford Motor Co. /zigman2/quotes/208911460/composite F +3.89% and General Motors Co. /zigman2/quotes/205226835/composite GM +3.07% "appear to be the biggest share gainers in the EV market," the analysts said, both increasing their share from mid-single digits to mid-double digits over the period. Moreover, 2022 will be characterized by the production ad sales ramp of Lucid Group Inc.'s /zigman2/quotes/221104327/composite LCID +4.98% Air sedan and Rivian Automotive Inc.'s /zigman2/quotes/230726939/composite RIVN +5.92% R1T pickup truck, R1S SUV, and the electric commercial van. It also could see the launch of Fisker Inc.'s /zigman2/quotes/209924856/composite FSR +4.17% Ocean SUV, Canoo Inc. /zigman2/quotes/211334934/composite GOEV +5.71% Lifestyle Vehicle, and Lordstown Motors Corp.'s /zigman2/quotes/211334938/composite RIDE +5.85% Endurance pickup, the analysts said.

/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 759.63
+51.90 +7.33%
Volume: 29.76M
May 27, 2022 4:00p
P/E Ratio
103.07
Dividend Yield
N/A
Market Cap
$733.22 billion
Rev. per Employee
$626,347
loading...
/zigman2/quotes/208911460/composite
US : U.S.: NYSE
$ 13.63
+0.51 +3.89%
Volume: 54.20M
May 27, 2022 4:03p
P/E Ratio
4.79
Dividend Yield
2.93%
Market Cap
$52.74 billion
Rev. per Employee
$735,459
loading...
/zigman2/quotes/205226835/composite
US : U.S.: NYSE
$ 38.57
+1.15 +3.07%
Volume: 15.68M
May 27, 2022 4:00p
P/E Ratio
6.40
Dividend Yield
0.00%
Market Cap
$54.56 billion
Rev. per Employee
$831,267
loading...
/zigman2/quotes/221104327/composite
US : U.S.: Nasdaq
$ 19.83
+0.94 +4.98%
Volume: 19.14M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$31.51 billion
Rev. per Employee
$21,615
loading...
/zigman2/quotes/230726939/composite
US : U.S.: Nasdaq
$ 30.96
+1.73 +5.92%
Volume: 17.47M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$26.33 billion
Rev. per Employee
$5,277
loading...
/zigman2/quotes/209924856/composite
US : U.S.: NYSE
$ 10.75
+0.43 +4.17%
Volume: 5.10M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.07 billion
Rev. per Employee
$239.90
loading...
/zigman2/quotes/211334934/composite
US : U.S.: Nasdaq
$ 3.52
+0.19 +5.71%
Volume: 1.40M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$800.32 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/211334938/composite
US : U.S.: Nasdaq
$ 1.99
+0.11 +5.85%
Volume: 6.98M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$371.11 million
Rev. per Employee
N/A
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.