Battery demand for commercial vehicles has been growing, Bernstein says, naming three stocks with over 50% upside potential that it likes. The rapid growth in battery demand for commercial vehicles is thanks in part to falling battery prices, the investment bank's analysts wrote in an Aug. 15 research note.
. The company - which has a market share of over 65% in the commercial vehicle battery industry - "dominates the commercial vehicle battery market," the bank's analysts wrote. installed 13 gigawatt-hours of commercial vehicle battery in the first half of the year, exceeding that of peers EVE Energy and Gotion High tech , they noted. Shares in
are listed on the Shenzhen Stock Exchange and are traded in the Amplify Lithium & Battery Technology ETF and KraneShares MSCI China Clean Technology Index ETF . Bernstein has an overweight rating on the stock at a price target of 300 Chinese yuan , giving it potential upside of around 72%. Other stocks it is overweight-rated on include Samsung SDI and LG Chem, both of which are listed on the Korea Exchange and trade as American Depositary Receipts in the U.S.