Stocks to buy

The Best EV Stocks to Buy as Lithium Prices Decline

We circle back to EV stocks in this week’s podcast episode. With lithium prices on the rise yet again, we check in with the electric vehicle sector. Is that a major headwind for EV stocks?

We don’t think so. Ultimately, it seems supply chains are improving. And specifically, lithium supply is growing – there are more mines being built and more money being dedicated to the space. Indeed, over the next one to two years, lithium supply will expand, and that will help prices to move lower.

Not to mention, price hikes have already happened in the EV space, and we don’t think we’re due for more anytime soon.

But beyond lithium prices, we’re seeing a lot of positive developments in the space. Mercedes-Benz (DMLRY) just announced plans for a long-haul electric delivery truck – which also means we’ve made some impressive strides in EV battery tech. And GM (GM) is investing nearly $500 million in a stamping plant to be used for EV production.

The EV stocks that we’re most excited about? The companies beginning significant production ramps into 2023 – Fisker (FSR), Rivian (RIVN), Lucid (LCID). We’re staying bullish.

On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.