We've compiled it recently According to Wall Street analysts, 12 of the most promising electric vehicle batteries are in stock. In this article, we will explore the location of Piedmont Lithium (NASDAQ:PLL) on other EV battery stocks.
The term “Electric Vehicle Battery Stock” describes the companies that produce and develop electric vehicle batteries. This includes companies that provide energy storage solutions, provide battery components and produce electric electric batteries.
There is a reasonably priced electric car market. Investors can investigate companies that make electric vehicle batteries, the most critical and expensive components of electric vehicles to keep demand alive. If electric vehicle manufacturing rises sharply over the next decade, demand for electric vehicle batteries will rise sharply.
Major manufacturers are investing heavily to meet the demand for higher capacity and cheaper batteries. New energy storage solutions developed by battery technology startups, some of which are disclosed through mergers of acquisition companies with special purpose, have the potential to completely change the market. Electric vehicle battery inventory is now a great investment option.
The electric vehicle battery market is booming. According to a research report, the electric vehicle battery market is estimated to be worth $59.06 billion in 2023 and is expected to grow 6.4% at a compound annual growth rate (CAGR) in 2024, from 2032 to 2032, from $67.78 billion to $11.12 billion. Asia-Pacific accounts for the largest regional share of the global electric vehicle battery market in 2023, with a valuation of US$28.44 billion and is expected to continue to do so during the forecast period. One of the main factors driving market expansion in the region is the soaring electric vehicle sales in China. According to the International Energy Agency, China accounts for global electric vehicle sales in 2023, selling 8.4 million units.
Although the EV battery market is growing, the cost of EV batteries has been greatly reduced in recent years, as S&P Global, mainly due to the price drop in basic components such as nickel, cobalt and lithium. However, prices are expected to stabilize in the coming years. For example, the price of lithium carbonate fell from $70,000 per metric tonne to $15,000 in 2024, while the price of cobalt fell from $70,000 per metric tonne in 2022 to about $30,000. Although global average prices are expected to rise in the second part of the decade, S&P Global Liquidity predicts that cellular prices for European nickel-cobalt-manganese (NCM811) will fall by more than 7% between 2024 and 2030. This is caused by tight raw material supply chains, low profit margins caused by unsustainable low profit margins for certain supply rates. NCM811 cells are currently cheaper in China due to increased local production and more expensive in Europe.
In contrast, the average cost of lithium phosphate (LFP) cells in 2024 is about USD 60/kWh, 20% lower than that of NCM cells. Although LFP production is currently dominated by the Big China, Europe is growing its capabilities. However, higher production costs in non-Chinese countries may lead to medium-term increase in LFP pricing. Although the NCM811 package in the region averages $103/kWh in the region, the LFP package in Greater China has achieved the cost equilibrium target for internal combustion engine vehicles at a price of $100/kWh. The cost of battery metals may increase, but the economy of improved scale and efficiency should keep costs largely stable.
Analysts expect lithium prices to stabilize in 2025 as China's mine closures and strong electric vehicle sales ease global lithium supply. Antaike, a Chinese state-owned commodity data source, estimates that Glut will cut by half to 80,000 tons of carbonate, while Cru Group's Cameron Hughes said the 2024 cuts and possible additional reductions will significantly reduce the surplus. More than 5 million vehicles have benefited from China's improved electric vehicle subsidies that drove demand and fueled lithium rally in late 2024. Cathode material buyers prove that the price increase is caused by subsidies, and analysts predict that policy aid will increase prices in 2025, enhancing the bullish outlook.
David Merriman, research director at Metals Research Company Project Blue, said:
“As the inventory runs out and buyers return to the spot market, prices may get any increase by the end of 2025.”
Close-up of open pit mines in the Carolina Lithium Project.
For this list, we compiled an initial list of 20 ev battery stocks. We then selected 12 stocks with the highest upside potential as of April 29, 2025. We only include upward potential of 20% or higher on the list. These stocks are ranked in the rising order of upward potential.
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Analysts' upside potential as of April 29: 49.00%
Piedmont Lithium (NASDAQ:PLL) is known for its lithium industry with a focus on the expanded electric vehicle battery market. The company's Carolina Lithium Project is located on approximately 3,706 acres in Tin-Shin, Carolina, North Carolina. Located in the northwest of Charlotte, the region is important to its main ore of salt. In addition to this important project, its asset ownership in Bessemer, North Carolina and Kings Hill can further develop its development goals. The company focuses on producing lithium hydroxide to take advantage of the rising demand for electric vehicles. This compound is crucial for lithium-ion batteries in electric vehicles.
Piedmont Lithium (NASDAQ:PLL) reached a full-year record, transporting and recording record shipments in the 4th quarter of 2024, offering over 55,700 tons of dry metric. Revenues for the quarter increased from $27.7 million to $45.6 million. The company's annual operating rate savings of $14 million, rather than its initial $10 million target, surpassing its 2024 cost reduction target. Although unit prices were reduced by more than 20%, North American lithium produced about 51,000 tons in the fourth quarter and more than 190,000 tons were produced in the year.
Piedmont Lithium Inc. (NASDAQ:PLL) accelerated license, obtained a state mining license for Lithium in Carolina and a mine operation license for Ewoyaa Ghana. The business also revealed that it will merge with Sayona Mining to create the largest lithium producer in North America, with an estimated annual synergy of $150 billion. Analysts have a 49.00% upward potential, ranking seventh on our list The most promising stocks.
Overall, PLL Ranked seventh According to Wall Street analysts, on our list of most promising electric vehicle battery stocks. Although we acknowledge the potential of PLL as an investment, our belief is that AI stocks have higher returns in a shorter time frame and offer greater hope in this. AI stocks have risen since the beginning of 2025, while popular AI stocks have lost about 25%. If you are looking for AI stocks that are more promising than PLL but have less than 5 times its earnings, check out our report The cheapest AI stock.
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Disclosure: None. This article was originally published in Internal monkey.