‘We need batteries,’ says Morgan Stanley. Here are stocks to ride the capital spending boom

In an aerial view, a Tesla car recharges its battery at the Petaluma Supercharger on March 09, 2022 in Petaluma, California. With oil prices continuing to soar, shares for companies in the electric vehicle sector are rising as consumers look to trade their gas powered cars in for electric vehicles.
Justin Sullivan | Getty Images

"We need batteries. Literally everywhere."

That's how Morgan Stanley summarized the immediate need to build out battery infrastructure in light of Russia's war in Ukraine, which has shown that "the global fossil-fuel energy supply chain is unsustainable and insecure."

The firm estimates it will take trillions of dollars in capital spending to build out battery infrastructure, which also creates an opportunity for investors.