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Bayerische Motoren Werke AG ADR BMWYY

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Biden Executive Order on EVs Is in Line With Our Thesis for Higher U.S. and Global EV Adoption

Seth Goldstein, CFA Senior Equity Analyst

Analyst Note

| Seth Goldstein, CFA |

On Aug. 5, U.S. President Joe Biden announced plans to sign an executive order calling for electric vehicles to be 40%-50% of new auto sales in the United States by 2030. The target includes battery electric vehicles and plug-in hybrids. This mirrors our thesis that the U.S. will see 30% EV adoption and 50% hybrid adoption, of which we expect plug-in hybrids will be 10%-20%, by 2030. Though the order is nonbinding, this aligns with stated plans from multiple U.S. automakers. As a result, we maintain our U.S. EV and hybrid adoption outlook. Using our regional buildup model, we continue to forecast that EVs and hybrids will make up 2 of every 3 autos sold globally by 2030, with 30% coming from EVs.

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Company Profile

Business Description

In addition to being one of the world's leading premium light-vehicle manufacturers, BMW Group produces BMW motorcycles and provides financial services. Premium light-vehicle brands include BMW, Mini, and ultraluxury brand Rolls-Royce. Operations include 31 production facilities in 15 countries, with a sales network reaching over 140 countries. In 2020, worldwide sales volume exceeded 2.3 million automobiles and more than 179,000 motorcycles.

Contact
Petuelring 130
Munich, BY, 80788, Germany
T +?49 893820
Sector Consumer Cyclical
Industry Auto Manufacturers
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type —
Employees 120,726

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