This Lithium Stock is Set to Surge from the EV Battery Boom

There’s no getting around the fact that electric vehicles (EVs) are now the future of the auto industry…

Over the last twelve months EV heavyweight Tesla (NASDAQ: TSLA) has seen a meteoric 814% rise in share value thanks to the growing popularity of the market.

While EV’s aren’t a new idea, Tesla helped accelerate the pace of broader adoption. Now, legacy automakers have made it clear they have no other option than to double down on this inevitable trend. 

Companies including General Motors (NYSE: GM), Ford Motor Co. (NYSE: F), and Volkswagen (OTCMKTS: VWAGY) already have some EVs in their vehicle lineups. However, they intend to drastically increase the number of available EVs over the next several years. 

General Motors will produce a fleet of EVs between now and 2024, with bigger plans to completely halt production of gas-powered vehicles by 2035. Ford said it intends to make similar moves, potentially launching a fleet of EVs by 2023. Meanwhile, Volkswagen intends to roll out 22 million EVs over the next ten years. 

And it’s no surprise why…

From 2017 to 2018, global EV sales surged by 65% while U.S. EV sales climbed by 80%. In 2019, Europe saw EV sales jump by 44%. Year-to-date, China reported over 700% growth…

According to Allied Market Research, the EV market’s value is forecast to increase by 395% from 2019’s $162 billion to $802.8 billion in 2027. 

These numbers are only expected to go higher in the decades to come. Bloomberg New Energy Finance (NEF) reported that EVs currently account for 10% of all global passenger vehicles. By 2030, this percentage is expected to increase to 28%. And by 2040, it’s projected to grow to 58%. 

This means the EV market has plenty of tailwinds ahead…

Yet, this growth isn’t for auto manufacturers alone. Equipment and material suppliers are the ones that’ll ultimately reap greatest benefits.

That’s because the EV revolution relies entirely on state-of-the-art batteries. And these batteries depend on one major mineral that’s set to see an explosion of demand over the next decade. 

That’s exactly why I’m bringing you one of the best lithium suppliers around that has the potential to play a pivotal role in battery development…

This Lithium Stock Should Profit from the EV Revolution

Albemarle Corp. (NYSE: ALB) is a chemical manufacturing company that specializes in bromine and catalysts, among other things. However, it’s also one of the biggest players in the lithium market, with nearly 35% of its business’s revenue relying on it. 

finviz dynamic chart for  alb

Lithium is a metal that is mined primarily in Australia, Chile. China, and South America. And while it’s used for a variety of things, it’s best known for its batteries. These are lithium batteries, and they have significantly longer lifespans compared to other kinds on the market. 

That’s precisely why they’re used in smartphones, tablets, and more. It’s also why EV manufacturers have turned to them to develop advanced lithium ion battery cells. 

And with automakers going all in on EVs, demand for the element behind these batteries is set to skyrocket. 

Data analytics firm GlobalData forecasts lithium demand will increase at a compound annual growth rate of 25.5% over the next four years. Predictions such as these have many experts anticipating a shortage after 2025. This means demand will greatly outweigh supply, likely driving prices and margins higher for companies like Albemarle. 

In fact, Albemarle is already beginning to benefit from this momentum…

In its fourth-quarter, the company reported earnings per share (EPS) of 1.17 compared to the anticipated EPS of $1.10. The chemical firm’s revenue came in at $879.1 million, topping Wall Street’s estimated $853.2 million. Of its total revenue, its lithium business contributed $358.6 million in sales. 

These trends are expected to continue. For full-year 2021, Albemarle projects its EPS could be as high as $3.65. Meanwhile, revenue could be as much as $3.3 billion. 

So, with continued Tesla excitement, as well as other manufacturers focusing their efforts on developing EV fleets, financial services company UBS predicts the lithium market will grow eight times larger over the next ten years.

Given Albemarle’s strong financials, outlook, and its exposure to the lithium market, it’s positioned well to benefit from the impending lithium boom.

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