12 Best Lithium and Battery Stocks To Buy

In 2023, it’s anticipated that the demand for lithium would increase to around 100,000 tonnes. Australia, Argentina, and Chile are the top three lithium-mining nations at the moment. In 2021, these three nations generated 87% of the world’s lithium. Both grid-scale lithium-ion batteries and batteries for electric vehicles require lithium. With a CAGR of 8.1%, the market for lithium is projected to grow from $3.83 billion in 2021 to $6.68 billion in 2028. The enormous demand for electric vehicles (EVs) in China is the primary driver of lithium consumption. Between 2021 and 2028, the lithium-ion battery market is projected to grow at a CAGR of 23.3% from its current value of $36.9 billion to $193.13 billion. 79% of all EVs registered in the United States in 2021 were owned by Tesla, Inc. The Inflation Reduction Act, which contains funding of $400 billion over a ten-year period for projects relating to the environment and energy, was approved by the US Senate. Of this, $369 billion will be used to manufacture electric vehicles domestically, develop sustainable energy technology, and improve the energy efficiency of buildings.

Insider Monkey highlights the 12 best lithium and battery stocks to buy. A Brazilian firm called Sigma Lithium Corporation discovers and develops lithium resources. The business declared in May that the Grota do Cirilo mining project is worth $5.1 billion. It will soon overtake China as the world’s fourth-largest producer of lithium. A Canadian business called Lithium Americas Corp. looks into lithium resources. Over the past year, the stock has given its stockholders a return of around 47%. The Cauchari-Olaroz lithium brine project in Argentina is almost entirely owned by the firm. Piedmont Lithium Inc., a pre-production mining firm, is in the process of opening its own mine in North Carolina and holds a small number of stocks in other smaller mining firms. LHP-2 and the business’s still-under-construction Carolina mining operation are 100% owned by the corporation. The business was included in both the broad-market Russell 3000 Index and the small-cap Russell 2000 Index as of June 27. In comparison to December 2021 levels, the company’s addressable market for lithium-ion batteries that are suitable for recycling increased by 170% in North America and 330% in Europe. Lithium-ion batteries are made by FREYR Battery for use in stationary energy storage, maritime applications, and electric cars. The business reported a net income of $4.7 million in the second quarter as opposed to a net loss of $34.9 million in the prior period. For more details, click 12 Best Lithium And Battery Stocks To Buy.