On Wednesday, President Biden visited GM’s EV plant in Detroit. One of his main talking points? How newly-signed infrastructure legislation will push the accelerator on the EV industry.

Biden even got behind the wheel of the electric version of an infamous gas guzzler, the Hummer…

Other presidential talking points, according to the White House: “how the bipartisan infrastructure law [signed Monday] creates a future made in America, builds electric vehicle charging stations across the country to make it easier to drive an electric vehicle, reduces emissions to fight the climate crisis, and creates good-paying, union jobs across the country.” (emphasis ours)

More on building out EV-charging infrastructure below…

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Your Rundown for Friday, November 19, 2021...

EV Industry Gets Supercharged

“As we speak, transformers, charging stations and other infrastructure are being delivered all throughout the country,” says our science-and-technology investor Ray Blanco. This is an effort to resolve “one of the biggest hurdles to EV adoption.

“The allure of plugging in at home and waking up each morning to a fully fueled vehicle might work for 90% of the people 90% of the time, but it’s the less common scenario that keeps people from pulling the trigger: What if you need to take a trip a state or two over?

“Fully baked long-distance charging infrastructure is the final piece of the puzzle for many EV-curious car shoppers,” says Ray. “And I expect several electric charging networks will be winners from the electrification of the nation’s highway network.”

The solution is what Ray’s calling “Project I.C.S.” -- that is, Project Interstate Charging System. “Everyone from automakers to the feds is devoting substantial resources to Project I.C.S. over the next several years,” he says.

“And growth is happening rapidly,” he continues. Consider this: “Around 10% of new vehicles sold in the U.S. and Europe by 2025 will be electric. By 2030, it’ll be nearly one in three!” There’s even a new “Big Three,” representing a shift among automakers.

“Tesla, Rivian, and Lucid are all worth more than Ford and GM,” said an article at Fast Company on Wednesday. But EV makers are risky (for instance, Lucid has yet to turn a profit). Compare that with the potential of I.C.S. names providing an essential service… without which EV makers are stalled.

This week? Ray says the I.C.S. stocks he’s eyeing are all up… after Biden’s infrastructure spending bill earmarks $7.5 billion to EV-charging buildout. “And EV makers will be spending billions more,” Ray adds. So, there’s still plenty of legroom for investors…

Market Rundown for Friday, Nov. 19, 2021

The S&P 500 has lost 0.20% to 4,690.

Oil continues to slide: down 3.4% to $76.30 for a barrel of WTI.

Gold’s up $2.10 per ounce to $1,862.80.

And Bitcoin is down $120 to $57,920.

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Try to have a good weekend. We’ll touch base Monday.

For The Rundown,

Aaron Gentzler
Editor, The Rundown
TheRundownFeedback@StPaulResearch.com