Businesses involved in electrification of the auto sector will experience tremendous growth as demand for electric vehicles (EVs) accelerates. But this growth will depend on markets delivering affordable EVs at scale and government catalyzing the transition. The EV industry will have to manage uncertain EV battery supply chains and engage in research in advanced materials and technologies. And greater electrification of vehicles will increase the need for electricity investment for better transmission and storage, likely raising the cost of electricity for business and households in many parts of the country.
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