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UBS has identified the stocks set to benefit from the growth of next-generation "solid-state" battery electric vehicles. Solid-state batteries are viewed as a potential breakthrough technology because they can store more energy than lithium-ion batteries and charge faster. Toyota's targets for solid-state batteries are about double the capacity of the longest-range Tesla vehicles. The automaker's planned transition to solid-state batteries for its EVs by the late 2020s makes the company's stock an attractive investment, according to the investment bank. The table below shows some of the global stocks best positioned to capitalize on the shift to solid-state batteries, according to UBS: UBS named Toyota Industries , which has already partnered with Toyota Motor on developing lithium-ion batteries, as another stock that could benefit from the shift to solid-state batteries.
Persons: Kohei Takahashi, Morgan Stanley, — CNBC's Michael Bloom Organizations: UBS, Toyota, Nissan, Honda, Toyota Industries, Toyota Motor, Mitsui Mining & Smelting, Sumitomo Metal Mining
TOKYO, Oct 31 (Reuters) - Toyota Motor Corp (7203.T) is expected to report a small quarterly profit increase on Tuesday, with soaring costs of parts and materials nearly offsetting the benefits from the plunging Japanese yen and a rebound in production. Toyota warned earlier this month that it is unlikely to meet its 9.7 million vehicle production goal for this financial year due to a scarcity of chips. It will be the first profit increase in three quarters and mark a big improvement from a sharper-than-expected 42% plunge in June quarter profit, partly helped by the yen which has further extended its loss. Toyota estimated in August material cost for the full year to be 1.7 trillion yen, a 17% increase. Just a year into its $38 billion EV plan, Toyota is already considering rebooting it to better compete in a market growing beyond its projections, Reuters reported this month.
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