Topic: How To Invest

What is Pat’s commentary for the week of June 27, 2023

Article Excerpt

Automakers are shifting away from traditional gasoline-powered vehicles to battery-powered electric vehicles (EVs). That’s partly due to government mandates—Ottawa wants 20% of all passenger cars, SUVs and trucks sold in Canada by 2026 to run on electricity. The requirement will rise to 60% in 2030, and 100% by 2035. Countries around the world have set similar targets. A good way to profit from the shift to EVs is with Linamar. The company is a long-time supplier of drivetrains and other key components to the world’s biggest carmakers. Over the past few years, Linamar has shifted its focus to EVs, which is helping its customers comply with those government targets. The company has also expanded into related industries such as construction and agricultural equipment. That has helped cut its reliance on the cyclical auto industry. Linamar is now applying its design and manufacturing expertise to medical devices. We’re confident this business will become a significant contributor to its growth in the coming years. I asked…