With the electric vehicle industry positioned for sustained growth, there is a big investment opportunity in EV batteries. Estimates indicate that batteries typically account for 30% to 40% of the value of an electric vehicle. It also goes without saying that the demand for batteries would also translate into robust demand for battery metals. With some weakness in EV stocks, it’s a good time to look at some of the best battery metal stocks to buy.
While various industrial commodities will witness a surge in demand, the biggest beneficiary is likely to be lithium. By 2030, batteries will account for 95% of the lithium demand. Further, lithium capacity needs to grow at 25% to 26% annual to cater to this incremental demand. Therefore, my focus in this column is on three battery metals stocks to buy from the lithium production segment.
Let’s discuss the reasons that make these lithium stocks attractive.
This post originally appeared at InvestorPlace.