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Matthew A. Winkler

Stop Dissing Electric-Car Companies Already

They now comprise half the worth of the world’s 10 most valuable automakers, and for good reasons.

Present, not future.

Present, not future.

Photographer: SeongJoon Cho/Bloomberg

Business disruption in 2020 wasn’t just about the global pandemic. This was also the year when investors reconfigured the $2.7 trillion auto industry.

Electric-car companies are suddenly worth half of the total market capitalization of the world’s 10 most valuable automakers. That’s because money managers sized up the convergence of government policies and people’s preferences combating climate change and made alternative energy their biggest bet.