Welcome to Thoughts in the Market.

I'm Andrew Sheets, Chief Cross-Asset Stragist for Morgan Stanley Research.

And I'm Adam Jonas, Head of Morgan Stanley's Space and Global and Shared Mobility Teams.

And on part two of this special Earth Day edition of the podcast, we'll be continuing our

discussion of the intersection between electric vehicles, climate change, and policy.

It's Friday, April 23rd at 3pm in London.

And 10am in New York.

So Adam, you mentioned our colleague Stephen Bird who looks after power utilities and renewable

energy at Morgan Stanley.

And I wanted to pick up on something you mentioned in terms of the work you do with

his team on the grid.

You know, as the number of electric vehicles pick up, you will effectively have a large fleet

of rolling batteries kind of going around the country.

How much could that influence making a smarter, more efficient electrical grid in the future?

And there's a lot of potential there.

At least strongly suspect you'll see it in countries where there's really rapid EV adoption

like in Norway, for example, which is, I'm not exaggerating when I say 20 years ahead

of the United States in terms of EV adoption.

They're about 50% right now.

There'd be 100% in by middle of the decade EV adoption in terms of new sales.

And then shortly after that, their whole park turns over.

So maybe in the U.S., you'll see pockets of Norway and maybe in parts of Northern California

...