People are increasingly shifting towards electric vehicles (EV) amid concerns over rising pollution levels.
Facts & Factorsprojects the EV market to grow at a CAGR of 22% over the next six years to reach $700 billion by 2026. Meanwhile, here are the two Canadian stocks that could benefit from the secular shift towards EVs.
Magna International
Magna International (TSX:MG)(NYSE:MGA), the third-largest auto component manufacturer globally, is my first pick. In June 2018, the company had formed a joint venture (JV) with Beijing Electric Vehicle Company to produce EVs. Magna International’s management recently announced that the JV would soon launch its first of the four full EV variants. In December, the company had collaborated with LG Electronics to form a joint venture that manufactures e-motors, inverters, and onboard chargers to support the growing EV market. The transaction could be closed by July 2021.
All or Nothing: Tottenham Hotspur (UK),
The Bachelorette (Japan),
Locas por el Cambio (Mexico).
The fourth quarter marked Prime Video’s strongest viewership for live sports globally. In the U.S., Prime Video’s exclusive coverage of the San Francisco 49ers vs. Arizona Cardinals game on December 26 drew an estimated 11.2 million total viewers and delivered the highest digital average-minute-audience ever for an NFL regular season game. In the UK, the number of customers tuning into live Premier League football grew for the second season as millions watched 22 live and exclusive matches on Prime Video. In addition, millions of Prime members streamed live, international rugby for the first-ever Autumn Nations Cup tournament; and in India, Prime Video announced its first foray into live sports, with the acquisition of India territory rights for New Zealand Cricket through 2025-26.