According to the Geological Survey, batteries account for more than 70% of global lithium production. Because the valuable metal’s availability is limited, its price has risen dramatically. Lithium compounds are used in lithium-based energy solutions. Some of the most well-known lithium companies include Tesla, Johnson Controls, and NIO. Elon Musk, the CEO of Tesla, announced last month that the company would make a long-term switch to lithium-iron-phosphate cells for use in electric vehicles and energy storage. The move addresses concerns about the use of nickel in electric vehicle batteries, which has resulted in fire safety problems. At least for the time being, China and the United States appear to be on the same page on this subject.
Here is Insider Monkey’s list of the 10 best lithium and phosphate stocks to buy now. Lithium Americas Corp. is a lithium exploration and development firm based in Canada. In the second quarter, the company reported earnings per share of -0.16, below market expectations by $0.08. On the list of the top ten lithium and phosphate stocks to purchase right now, it ranks tenth. Sociedad Qumica y Minera de Chile S.A. is ranked ninth. Authorities in Australia have given the business permission to establish a lithium hydroxide refinery, according to the company. Livent Corporation is ranked eighth. Lithium compounds are manufactured and sold by the company. On August 5, it reported earnings for the second quarter, with $0.04 earnings per share. Energizer Holdings, Inc. is ranked seventh. The company is based in Missouri and sells many types of batteries. The company reported earnings for the second fiscal quarter on May 10, exceeding market expectations by $0.17. QuantumScape Corporation is a solid-state lithium battery developer and seller based in California. It is ranked sixth among the top ten lithium and phosphate stocks to purchase right now. In recent weeks, the stock has been one of the most heavily traded on the market. For more details, click 10 Best Lithium and Phosphate Stocks to Buy Now.
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