Since electric vehicles became more popular worldwide, the competition for batteries has intensified. Total EV sales, according to Deloitte, will rise from 2.5 million in 2020 to 11.25 million by 2025 before reaching 31.1 million by 2030. To reach $154.9 billion in 2028, the global electric vehicle battery market is expected to grow at a CAGR of 28.1 percent. The biggest automakers in the world are rushing to meet the rising demand for electric vehicles.
Here is Insider Monkey’s list of the 10 best EV battery stocks to invest in. Panasonic Corporation, a Japanese electronics giant, is one of the world’s leading EV battery suppliers. It has been supplying Tesla, Inc. with high-performance electric vehicle batteries manufactured in Osaka, Japan. In the world of electric vehicle batteries, Panasonic Corporation is one of the world’s leading suppliers. High-performance electric vehicle batteries are manufactured and supplied by Osaka-based company Tesla, Inc. On December 9, Solid Power Inc. saw a 14% surge. Ford Motor Company, Bayerische Motoren Werke Aktiengesellschaft, and Volta Energy Technologies invested $135 million in the company’s Series B round. Lithium-ion battery modules and packs for commercial electric vehicles are manufactured by Romeo Power, Inc. of California. In the third quarter of 2021, revenue for the company increased by 747 percent year over year to $5.76 million. Argentine lithium operations are being expanded by Lithium Americas Corp. The Cauchari-Olaroz plant, which will have an annual production capacity of 40,000 metric tons, is scheduled to start-up in mid-2022. During the last six months, the stock price has increased by 75%! For more details, click the 10 Best EV Battery Stocks To Invest In.
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