- Short-term challenges including the energy crisis in Europe, the end of Chinese subsidies and global recession fears may slow the momentum behind electric vehicle sales in 2023. However, over the long term, we expect the EV market to experience huge growth.
- EV start-ups are battling to scale, capture market share and reach profitability, while legacy automakers are largely cannibalising their own traditional internal combustion engine vehicle sales. As a result, we believe exposure through suppliers is the best way to invest in this theme.
- Also in this report: An update on the strategy’s exposure by impact theme, plus, a closer look at portfolio holding, IDM manufacturer STMicroelectronics.