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3 EV Battery Stocks to Buy in 2024

battery stocks to buy
Marko Marjanovic

Summary: The need for innovative battery solutions in the electric vehicle industry is on the rise, propelling the growth and revenue of numerous electric car battery manufacturers and attracting investors looking to capitalize on the boom of this relatively new industry. In this guide, we present 3 EV battery stocks to buy in 2024 based on future growth potential. Those looking to invest in the stocks on our list can open a trading account with a regulated online brokerage such as eToro.

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

What are EV battery stocks?

The global automotive industry is putting more and more emphasis on EVs, and it is estimated that electric car sales in 2023 grew 33% in comparison to 2022. Naturally, since meeting the demand for EVs at such significant levels necessitates substantial investments in semiconductors, electric car batteries, and other technological solutions, investor attention has never been greater as more and more individuals seek to capitalize on this prominent trend toward electrification.

3 EV battery stocks to buy in 2024

The top 3 EV battery stocks to buy in 2024 are:

  1. Albemarle Corporation (NYSE: ALB);
  2. BYD (OTC: BYDD.F);
  3. QuantumScape (NYSE: QS)

Highly Rated Stock Trading & Investing Platform

  • Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.

  • 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

1. Albemarle Corporation (ALB)

Albemarle Corporation is a major supplier of lithium for electric car batteries, holding a prominent position in the specialty chemical manufacturing sector and providing lithium, bromine, and catalyst solutions to markets both in the United States and worldwide. With a revenue of $7.32 billion, according to Statista, Albemarle is an appealing option for investors seeking exposure to the automotive and EV battery sectors.

Albemarle Corporation stock price

2. BYD (BYDD.F)

BYD stands as one of the world’s most valuable automakers, specializing in the production and sale of hybrid and battery-powered cars, buses, trucks, and monorails, as well as batteries, semiconductors, and other essential components. The company enjoys substantial success in its domestic Chinese market, having secured its position as the top global manufacturer of battery EVs and plug-in hybrids. Moreover, thanks to its diverse portfolio of EV-adjacent products, it might be a solid option for those looking to gain exposure to the electric vehicle market as a whole.

BYD stock price

3. QuantumScape (QS)

QuantumScape focused on solid-state battery technology, especially the recharging capabilities of electric vehicles. In 2022, the company delivered its initial prototype battery samples to EV automakers, with commercial battery production planned for 2024–2025. The company has ambitious plans. However, the fact that it’s been backed by the likes of Bill Gates and Volkswagen inspires confidence in a lot of investors.

QuantumScape stock price

To explore the EV market further, check out our guides on:


Where to buy EV battery stocks?

Our preferred brokerage for EV battery stocks is eToro, a major stock trading platform with over 30 million registered accounts and robust trading features, including:

  • Commission-free stock and ETF trading; 
  • 2,000+ stocks from 17 exchanges;
  • Fractional shares available;
  • Charting tools; 
  • User-friendly platform.

Highly Rated Stock Trading & Investing Platform

  • Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.

  • 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Common mistakes to avoid when investing in EV battery stocks

The EV market is experiencing rapid growth, making it an attractive sector for investors. However, before diving into this investment, it’s crucial to be aware of common investing mistakes and pitfalls that can hinder long-term success.

One mistake many investors make is not conducting thorough research on the EV battery stocks they intend to invest in. It’s essential to understand the company’s fundamentals, industry trends, and competition before making any investment decisions. Likewise, be prepared for inherent market volatility, as rapid advancements in technology and changing regulatory environments can impact stock prices.

Another mistake is succumbing to the fear of missing out (FOMO) and impulsively investing in the hype surrounding EV battery stocks. While it’s true that some companies have seen significant gains, making well-informed decisions grounded in data and analysis rather than short-term buzz is still a wiser move.

Pros and cons of investing in EV battery stocks

Pros

Pros

  • New tech: EV battery technology is evolving rapidly, and companies spearheading these innovations stand to experience significant growth;
  • Large and growing market: The surge in demand for electric vehicles mirrors the global shift towards renewable energy sources, so electric car battery stocks are poised to benefit from this escalating trend;
  • ESG investment: Investing in electric car battery stocks aligns with the worldwide movement towards sustainable and eco-friendly technologies. 
Cons

Cons

  • A lot of things are uncertain: The dynamic nature of the young EV industry poses risks tied to ongoing research and development, making investments in unfamiliar technologies inherently risky;
  • Fierce competition: Electric car battery stocks face the challenge of a highly competitive market, with numerous companies vying for market share, including giants such as Tesla;
  • Material shortages: The supply chain for crucial raw materials, such as lithium, cobalt, and nickel, poses a potential risk, as manifested by the recent semiconductor chip shortages.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about EV battery stocks

What are EV battery stocks?

EV battery stocks are shares in companies researching, developing, and manufacturing energy storage solutions for electric vehicles (EVs).

How to invest in EV battery stocks?

To invest in EV battery stock, open a trading account at an online stock trading platform such as eToro.

What are the best EV battery stocks to buy in 2024?

The 3 best EV battery stocks to consider adding to your portfolio in 2024 are Albemarle Corporation (NYSE: ALB), BYD (OTC: BYDD.F), and QuantumScape (NYSE: QS). 

Is investing in EV battery stocks safe?

The EV battery and the EV market as a whole are relatively young but highly dynamic and profitable markets. However, all investments carry risks, so profits are never guaranteed. If you wish to invest in EV battery stocks, do thorough research and avoid falling prey to hype.

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