Electric vehicle production is set to skyrocket. And while auto stocks and many EV start-ups haven't turned out to be great investments, the companies supplying the carmakers have long been very profitable. In this video, Motley Fool contributors Jason Hall and Tyler Crowe make the case for Cleveland-Cliffs (NYSE: CLF), a vertically integrated iron and steel producer that has become one of the largest suppliers of steel and steel components to the automotive industry.
*Stock prices used were from the morning of Sept. 8, 2023. The video was published on Sept. 15, 2023.
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Jason Hall has no position in any of the stocks mentioned. Tyler Crowe has positions in Cleveland-Cliffs and Nucor. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Jason Hall is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
