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Given EV’s great prospects, the global EV battery market is expected to grow at a 26% CAGR to reach $175.11 billion by 2028. Therefore, Morgan Stanley (MS) has upgraded the EV battery stock of FREYR Battery (FREY).
Conversely, a shortage of lithium supply, an essential component of EV batteries, could disrupt the battery-making process. And lithium supply is expected to be in severe deficit by 2027. Given this downside and its weak financials, the investment bank has downgraded QuantumScape Corporation (QS).
