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Morgan Stanley on NY’s Electric Vehicle Goals: 'Something Has to Give'

October 7, 2022 7:59 AM EDT

The state of New York has announced that, similar to California, all new vehicles sold in the state will be battery electric vehicles by 2035. The plan is aimed at reducing greenhouse gas emissions and represents a key step in achieving NY's target of reducing emissions 85% by 2050. Morgan Stanley, after examining the current state of battery supply chains and EV prices, believes this goal will be difficult to achieve.

As part of the plan, NY is making additional grants and subsidies available to both... More