Not FX but an interesting snippet from Morgan Stanley. Analysts with the estimate that the capex required to move all of the global light vehicle fleet to electric could be somewhere in the US$1.5 to 3tn range.

Saying ...

  • That's just the battery factories
  • Add in the upstream mining/refining, downstream grid upgrades, renewable energy supply, charging infrastructure .. recycling, service and support and we're talking figures potentially on the order of $10 trillion to $20 trillion or more over a 20 year period.

"If you can think of a capex cycle bigger than this one, you know where to find us.”

elon musk