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Martin Tillier

Martin Tillier

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EnerSys Has The Best Odds In The EV Market

There is nothing I like more than when a big picture, fundamental narrative and a technical setup collide. Each can be reasons to initiate a trade in their own way, but when a long term bullish view is complemented by a likely short term support level it suggests that the big picture can be given time to play out, without risking excessive amounts of capital. That is the case right now with energy storage and battery company EnerSys (ENS).

The fundamental reasons for investing in the industry are two-fold. Firstly, the extremely successful launch of the Tesla Model 3 last night suggests that the electric vehicle (EV) is here to stay and could well end up being the future. Obviously, 150,000 orders for the new, more affordable Tesla is great news for that company, but it is also good news in many ways for EVs in general, and therefore battery makers such as EnerSys.

Not the least of that good news is that, after several delays, Tesla was able to produce the car at all. An EV that could profitably be sold for the same price as a fully loaded Honda Accord was the stuff of dreams when Tesla first launched the Model S back in June of 2012. Battery costs made up a huge chunk of overall production costs for that vehicle at over $300/KWh. The Model 3 is lighter and uses fewer batteries, but it is the cost reduction to below $200/KWh that has really made the vehicle viable. Oh, and by the way, Tesla’s management expects those costs to drop by another third by the…

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