- By William Baldwin William Baldwin is Forbes’ Investment Strategies columnist.

Who will supply the fuel and the fuel-cell components for green trucks? Perhaps Plug Power (clean fuel) or Ballard Power Systems (fuel cells). But both are wishful-thinking companies, losing money and trading at lavish multiples of their revenue. A safer bet means answering a different question: Who will use green powertrain­s? That would be Paccar, manufactur­er of Kenworth and Peterbilt semi trailers. It buys Cummins diesels now and will, presumably, someday be buying zeroemissi­on Cummins engines. Unlike green truck outfit Nikola, Paccar makes a profit. It trades at 15 times the $6.50 earnings that Value Line expects for 2022.

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