3 Stocks to Play the Lithium Demand

These producers could be the biggest beneficiaries of the exponential growth of the EV battery market

Vikram Barhat 14 July, 2021 | 2:25AM
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The electric vehicles (EV) market is skyrocketing with legacy players throwing everything at EV production in an attempt to close the gap with Tesla, the leviathan EV powerhouse. In the latest Morningstar Electric Vehicle Observer, Morningstar analysts anticipate that by 2030, two out of three cars sold will either be EVs or hybrids.

As the market for battery-operated electric vehicles grows, so does the demand for lithium, the main ingredient in rechargeable batteries and energy storage devices, and EVs will account for 79% of lithium demand. More EV options, improved battery range, supportive government policies and regulations could continue to fuel exponential growth of EVs globally for the next several years, according to Morningstar. This could provide a huge windfall for owners of mines with large lithium deposits.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Albemarle Corp236.16 USD-1.37Rating
Livent Corp25.81 USD0.04Rating
Sociedad Quimica Y Minera De Chile SA ADR56.18 USD6.72Rating

About Author

Vikram Barhat

Vikram Barhat  Vikram Barhat is a Toronto-based financial writer specializing in investing, stock markets, personal finance and other areas of the financial services industry. He also writes for CNBC, BBC, The Globe and Mail, and Toronto Star.

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