With electric vehicles being the new trend in the automobile industry, the market will see a new face in recent times. There will be some stocks that will rise with the electric vehicle boom. This article will give information about the top 10 stocks that will grow with the electric vehicle boom.
- Battery Stocks -With the electric vehicle boom, there will surely be high demand for the battery. Batteries power electric vehicles, and they will soon be manufactured in massive demand as the market for electric vehicles grow. That goes without saying that you should keep your eyes on battery stocks.
- Lithium Stocks -Lithium-ion batteries are most commonly used to power vehicles. Lithium, in this type of battery, acts as a cathode. With lithium-ion batteries demand rising, there will be a hike in lithium stocks. It has been stated that for every 1 % increase in the battery electric vehicle market penetration, there will be an increase in the demand for Lithium by around 70,000 tonnes LCE/year.
- Cobalt– Cobalt is also one of the major components of the batter. 40% cobalt is used for making rechargeable batteries used in cars. Cobalt stock is another stock that you should keep your eyes on.
- Graphite -Graphite is a conductor of both electricity and heat, making it useful for manufacturing batteries used in electric cars. Not only graphite has usage in batteries for cars but other industrial purposes as well. The demand for graphite will hike in recent years as the market for electric vehicles grow.
- Aluminum – Around 250 kg of aluminum is used in an electric vehicle. Moreover, it is also an essential component of a lithium-ion battery. With the rise of the electric vehicles market, the demand for charging stations will also increase. Aluminum can be used for the manufacturing of charging stations as well. With increasing aluminum demand as the Electric cars market grows, this should be the next stock that you should look out for.
- Manganese – Manganese is another element that is used in the lithium-ion battery. It is an essential component in the formation of lithium cathode in the battery. The rise of electric cars will also boom the stocks of manganese.
- Silicon – The silicon-controlled rectifier is used to control power and high voltage. It is one of the important components that are used in electric vehicles. With the electric vehicle boom, the demand for SCR will also increase, thus hiking the price of silicon stocks.
- Tires Stocks – Tires are surely used in electric cars, and tire manufacturing companies will surely seek a hike with the rise in the electric vehicle market.
- Rubber – Rubber is an important component used for developing tires. With the industry booming, you should look out for rubber stocks.
- Glass – The next stock to look out for is the glass stock. Glass is used to manufacture windshield glass, cleaning fluids, headlights, bulbs, wipers, etc. With the electric vehicle boom, the glass market will also increase.
These were some stocks that will hike with the increasing trend of the electric vehicle. The boom of electric cars will change the auto sector completely. If you are interested in specific stocks to invest, you wlll find the recommendations of individual stocks in electric vehicle category in our monthly lithium and e-car stock investment report. You can check this here -> https://www.mahendraprophecy.com/cannabis-lithium-cobalt-subscription.php
