The Best Lithium Stocks List to Buy Long-Term Below
The automotive industry is currently undergoing a seismic transformation, a transition from the age-old reliance on internal combustion engines to the electrifying promise of electrically powered vehicles. This shift has spurred countless debates, with pundits and experts weighing in on its efficacy and practicality. However, amid all this chatter, there’s an often overlooked and critical player in the electrification of vehicles: lithium. These unassuming lithium-ion batteries are the very lifeblood of electric vehicles (EVs), a fact that Elon Musk, the maverick entrepreneur behind Tesla, has likened to “lithium batteries being the new oil.”
Given Musk’s track record of foresight and innovation, it would be imprudent to dismiss his words. Adding more weight to his proclamation is the ambitious endeavor underway at Tesla. The company is blazing a trail towards establishing a state-of-the-art lithium refinery on the sun-kissed shores of the Texas Gulf coast. When completed, this facility will catapult Tesla into the position of being the largest producer of battery-grade lithium in North America. An investment to the tune of $365 million has been pledged to develop this groundbreaking plant, and, in a remarkable twist of fate, the originally planned 2025 production date has now been expedited to the second half of 2024. The facility’s projected output is nothing short of astounding, with the capacity to churn out enough battery-grade lithium to power a staggering one million EVs every year.
The market for battery-grade lithium is nothing short of colossal. Beyond the realm of electric vehicles, lithium-ion batteries are the life force of most of our portable electronic devices—the laptops, tablets, and smartphones that have become indispensable in our daily lives. Musk, ever the visionary, recognizes the goldmine that lies in his expanding lithium operations in Texas, aptly describing it as a ‘money-printing machine.’
For astute stock investors, a market with such colossal potential represents a veritable goldmine long-term. Armed with these above insights here are the current best leading lithium stocks worth your attention. Intriguingly some Wall Street analysts have pegged these stocks as potential winners in the dynamic and expanding lithium industry.
The Best Lithium Stocks for the Long-Term
Tesla TSLA
Rio Tinto Group RIO
Albemarle ALB
Sociedad Química y Minera de Chile S.A. SQM
Livent LTHM
Lithium Americas LAC
Piedmont Lithium PLL
QuantumScape QS
Lucid Group LCID
FMC Corp FMC
EnerSys ENS
Sigma Lithium SGML
Energizer Holdings ENR
Enovix EVNX
