Top Performing EV Battery Stocks

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Contributor, Benzinga
July 19, 2024

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Tesla led the charge for electric vehicles (EVs), and more car companies are incorporating electric vehicles into their line-ups. Those cars and trucks require EV batteries. As the demand for electric vehicles grows, companies producing EV batteries are likely to get more orders, presenting an opportunity for investors. Individuals who want EV battery stocks in their portfolios may want to consider these eight picks.

Movers

The EV industry is growing, and batteries are core components that aid EV growth. Investors looking to profit from EV batteries may want to scoop up these stocks.

1. Panasonic Holdings (OTCMKTS: PCRFY)

Panasonic has partnered with Tesla for several years to provide EV batteries. The company has multiple factories in the U.S. where it produces EV batteries.

2. BYD Co. (OTCMKTS: BYDDY)

The Chinese-based company manufactures its own electric vehicles, but it also sells EV batteries and semiconductors. The company is positioned to benefit from its own vehicles and the rising demand for EV batteries. Warren Buffett holds a large stake in the company.

3. Nano One Materials Corp. (OTCMKTS: NNOMF)

The company produces critical cathode active materials that EV batteries need to function. Nano One Materials Corp technology can boost battery capacity, charge and cycling at lower costs. The company is a speculative EV battery stock with a market cap of a little above $250 million.

4. Solid Power Inc. (NASDAQGS: SLDP)

The company does not yet have a commercialized battery, but its partnership with BMW may get it across the finish line sooner. The battery can enable longer distances for EVs and make them less expensive.

5. Honeywell International Inc. (NASDAQ: HON)

Honeywell is an industrial conglomerate that has several business segments, including EV batteries. The company offers sensor and safety solutions for electric vehicle and EV battery manufacturers.

6. Albemarle Corp. (NYSE: ALB)

Albermarle produces lithium and other essential elements for EV batteries and other business verticals. The company pays a dividend yield below 1%, but some dividend is better than none.

7. Microvast Holdings Inc. (NASDAQ: MVST)

Microvast is another speculative EV battery stock Microvast designs, develops and manufactures EV batteries. The company recently expanded its Colorado energy division to increase capacity. The company strives to position itself as a leader in the lithium-ion battery manufacturing industry.

8. QuantumScape Corp. (NYSE: QS)

Many EV battery stocks are speculative, and QuantumScape is no exception. QuantumScape develops solid-state EV batteries. The company’s batteries can deliver enhanced safety and quicker charges for electric vehicles. 

Where to Buy

Investors can choose from several brokerage firms to start investing in EV battery stocks. Here is a list of top brokers to consider.

How to Choose

Some EV battery stocks are speculative, while other EV battery stocks use electric vehicles as one of their business segments. Risks vary based on which EV battery stocks you consider, but it is important to assess your portfolio and financial goals before committing to an investment. 

Frequently Asked Questions 

Q

Who makes EV batteries for Tesla?

A

Tesla partners with several companies for EV batteries, but Panasonic is the top partner.

Q

Which company is best for EV battery making?

A

Investors should assess several EV battery companies and decide which one makes sense for them based on their financial goals.

Q

Where do EV batteries come from?

A

Most EV batteries come from China, but the materials required to produce EV batteries are spread out in different parts of the world.

Best EV Battery Stocks Methodology

The methodology for this list involved looking at EV stocks that rewarded investors year-to-date or over the past five years. This list featured a mix of profitable companies where EV batteries are a segment of a larger conglomerate, along with pure EV battery investments that have greater risk but also a higher potential reward. 

Marc Guberti

About Marc Guberti

Marc Guberti is an investing writer passionate about helping people learn more about money management, investing and finance. He has more than 10 years of writing experience focused on finance and digital marketing. His work has been published in U.S. News & World Report, USA Today, InvestorPlace and other publications.