BMW (BMWYY) boasts that it makes the “ultimate driving machine.” The company may also have the ultimate electric-vehicle stock not named Tesla (TSLA), Al Root writes in this week’s edition of Barron’s. Producing a great EV or two by itself doesn’t make an auto stock worth owning. But it does mean that a traditional car maker has a viable business model down the road, even if the global market for gas-powered cars is half its current size in 2030, as Wall Street, and the car companies, expect. Without the existential risk of a declining gasoline-car business, investors can evaluate BMW stock based on its fundamentals, the author says.
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