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- 1 Rapid shifting of the automobile industry towards electric vehicles suddenly elevated the demand for batteries.
- 2 Sustainable goals to reduce carbon emissions by the end of 2030 also grew the need for batteries in the marketplace.
Electrification of mobility, sustainability, and reduced carbon footprint increased the value of batteries in the household and commercial landscape. Batteries are emerging as one of the great replacements for fossil fuels and are expected to achieve great demands between 2020 and 2030. Investing in battery stocks would be beneficial for those who are looking for long-term benefits from the stock market. Initiatives like Net Zero seek the interest of investors toward battery stock. Let’s discuss some of the leading battery stocks in 2023.
Panasonic Holdings (PCRFY)
Panasonic Holding is one of the popular and leading names in consumer electronics. The current stock price of PCRFY is $11.92 with a market cap of $27.88 Billion. The stock price is expected to grow up to $17.78 in the near future making PCRFY a good option to invest in 2023. Investing in PCRFY stocks boosts the chances of gaining average return from the shares in the next few months.
Freyr battery (FREY)
Freyr Battery is a designer and manufacturer of high-density and cost-efficient lithium-ion batteries, offering fewer carbon batteries to enhance electric mobility. FREY is considered to be a good stock to buy in 2023 with a current stock price of $9.33. The stock price is predicted to go upwards in the near future with the expectation to reach $13.33 by the end of 2024. Also, the company is expanding its presence in different regions of the world.
Albemarle Corporation (Albemarle)
Albemarle is a chemical manufacturing company offering the development, manufacturing, and marketing of value-added products. The company is expected to accelerate growth in revenues by the end of 2027. The current stock price of Albemarle is $235.27 and is considered to be a strong buy. Albemarle’s stock prices are expected to take a hike up to $785.28 in 2030 making it a good source to make money in the near future.
Sociedad Quimica (SQM)
Sociedad Quimica company is a manufacturer of various products for different industries and is a leading name in battery manufacturing. The stock price of SQM is around $78.18 and is assumed to touch $129.384 by the end of 2025. Also, the expansion of the company in new markets boosts the chances of growth and success in the future.
BYD
BYD is a leading name in blade battery manufacturing, electronic platform 3.0, and hybrid technology for electric cars. Also, BYD is one of the biggest suppliers of rechargeable batteries making BYD one of the key players in the marketplace. The current stock price of BYD is $69.00 with a market cap of $104.09 Billion and the stock price is assumed to touch $85.0 by the end of 2025, making it a strong buy for 2023.
Conclusion
Enhanced focus on sustainability and electrification of mobility hiked the demand for batteries. The demand for the same will boom in the near future enhancing the demand for battery stocks. The aforementioned stocks are some good battery stocks to invest in 2023.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
