Here are two stocks that stand to benefit from California’s electric-vehicle push

California is aiming to ban sales of new gas-powered vehicles by 2035, and Morgan Stanley has two stock picks for those willing to play a long game.

Shares of Aptiv have lost 11% this year, while shares of Tesla have jumped 370%. That compares with gains around 1% for the S&P 500 index. Shares of SPI Energy Co. Ltd. SPI, -23.74% were 15% higher on Thursday after a 1,236% gain on Wednesday; Sunworks, Inc. SUNW, -46.81% rose 233% on Thursday after a 50% gain in the prior session. The companies, both based in California, have a market cap of $240 million and $63 million, respectively. SPI on Wednesday announced a subsidiary focused on EV and EV charging.Some refiner stocks recovered on Thursday but most big names, such as Valero Energy Corp. VLO, -1.48% and Phillips PSX, +0.

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