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For decades, the automotive world has been dominated by internal combustion engines, with oil giants holding the reins. However, over the past decade, the electric vehicle (EV) revolution has accelerated faster than anticipated, reshaping transportation, energy storage, and even global supply chains.
According to industry forecasts, the EV battery market, driven by lithium-ion technology and emerging solid-state innovations, is poised to experience significant growth, from approximately $92 billion in 2024 to over $250 billion by 2035. This growth isn't just about cars; it's powering everything from grid storage to consumer gadgets, creating a multi-trillion-dollar ripple effect across the economy.
Investors eyeing this electrifying shift have a select group of publicly traded companies to tap into. While some foreign battery behemoths, such as Panasonic and CATL, often dominate headlines, several U.S.-listed players exist.
Many of which are poised to capitalize on the surge in demand for lithium and next-generation batteries. These stocks combine established producers with innovative start-ups, offering a blend of stability, high potential, and, of course, elevated risk.
So, here’s a look at five EV battery and lithium stocks that could charge ahead in the next decade:
When it comes to securing the EV supply chain, few stories are as compelling as Lithium Americas Corp. (NYSE: LAC), a developer of one of North America's largest lithium deposits at its Thacker Pass project in Nevada. With the U.S. pushing hard for domestic critical minerals to reduce reliance on overseas sources, LAC is at the epicenter of this geopolitical pivot.
The company’s stock has experienced significant fluctuations since its initial public offering in late 2023, but recent news has significantly boosted sentiment. Shares have more than doubled in the month after explosive reports of a potential U.S. government equity stake in Thacker Pass, resulting in a 95% increase in the share price last week. After its remarkable surge last week, the company now boasts a market cap of $1.4 billion.
But, even with the surging share price and positive reports, it’s important to note that this is a pre-revenue lithium play. And with that comes elevated risks. Financially, LAC is pre-revenue and burning cash as it advances permitting and construction.
Analysts have yet to fully begin re-rating the stock, as they likely await further clarity and certainty surrounding the recent news. As of Friday’s close, the stock had a consensus Hold rating, reflecting the current neutral sentiment. Its consensus price target is $4.72, implying significant downside, for the time being.
Should the recent news materialize and come to fruition, the consensus rating and price target, along with the stock’s share price, will likely receive a considerable boost.
Albemarle Corporation (NYSE: ALB) is a leading lithium producer. The company is a global giant with mines in Australia, Chile, and the U.S., supplying the chemical backbone for millions of EV batteries. The company is also redeveloping a former mine in Kings Mountain, North Carolina. As one of the few pure-play lithium majors on U.S. exchanges, ALB has long been the go-to for investors seeking broad exposure to the metal's price cycles.
However, while several smaller-cap lithium plays have surged in recent weeks and on the year, ALB has lagged. YTD's stock is up just 2.35%, lagging behind its peers and the overall market.
However, with a market cap of $10.3 billion, membership in the S&P 500, and strong quarter-over-quarter results, the stock remains one of the most attractive publicly traded lithium stocks. Its current technical setup points to further potential upside.
Since July, it’s consolidated between $70 and $90, with Friday’s close edging ever so near the breakout point of $90. Should the stock break out above resistance, it could signal a fresh stage breakout.
Profitability and sales have been uneven in recent years, with the company struggling to generate sustained momentum. But its latest Q2 results offered investors a welcome turnaround.
The lithium giant swung back to profitability, posting a net income of US$22.9 million compared to a loss of US$188.2 million in the same period a year earlier, and reaffirmed its full-year outlook.
Revenue declined 7% year-over-year to $1.33 billion, though that still beat Wall Street’s $1.22 billion estimate thanks to tighter cost controls and stronger performance in the specialties division.
Management cautioned, however, that lithium prices remain too low to support new project investments.
On the earnings call, leadership highlighted that demand trends have been more resilient than anticipated, with robust growth in China and Europe offsetting a weaker U.S. market. With global lithium demand projected to more than double by 2030, Albemarle is positioning itself to capitalize through operational improvements and its extensive international footprint once pricing conditions stabilize.
Solid Power, Inc. (NASDAQ: SLDP) is a quintessential high-risk innovator in the EV battery space. It is laser-focused on solid-state technology that promises a more extended range, faster charging, and safer batteries than today's lithium-ion staples. Partnered with heavyweights like BMW and Ford for the development and integration efforts, SLDP is scaling its sulfide-based electrolytes to disrupt the status quo.
And with several of its EV battery and lithium competitors attracting significant trading volume in recent months, it’s been no different for SLDP. The stock is up a whopping 97% year-to-date, thanks to a 73% surge in the quarter.
However, the surge has been isolated to technicals and sector momentum rather than fundamental growth or significant achievements. The company announced its Q2 2025 earnings on August 6, 2025, reporting an EPS loss of 14 cents, which missed analysts' consensus estimates of a 12-cent loss by 2 cents. Quarterly revenue came in at $6.49 million, above the consensus estimate of $5 million.
Beyond technical momentum, what’s the real upside? If SLDP's tech cracks commercialization, it could become an industry leader and titan. But if it fails to do so, it could fizzle out. That’s why SLDP remains a high-growth potential name but with equally high risk.
QuantumScape Corporation (NYSE: QS) has captured investor attention with its anode-free solid-state batteries, designed to deliver 50% more range and recharge in under 15 minutes, which could be potential game-changers for EV mass adoption. Backed by Volkswagen, the company continues to validate its technology through prototypes while working toward scale.
Volkswagen has been a key partner since 2012, deepening its commitment in 2020. Most recently, in July 2024, VW’s battery subsidiary PowerCo signed a landmark licensing agreement with QuantumScape to mass-produce solid-state cells. As part of the deal, PowerCo is investing in a pilot production line to help bring the technology to market.
Like others discussed here, the stock has performed remarkably well this year. It’s up 143% YTD and consolidating near recent 52-week highs with a $7.1 billion market capitalization. However, investors need to be aware that it’s still pre-revenue.
While the company has an elevated cash burn rate, it does have sufficient cash reserves to extend its runway for a significant period. However, given its pre-revenue status and lofty valuation, it's no surprise that analysts hold a consensus Reduce rating and price target, implying almost a 50% potential downside.
SES AI Corporation (NYSE: SES) stands out by infusing artificial intelligence into lithium-metal batteries. It aims for higher energy density and safety for EVs and drones.
With prototypes already being tested by partners such as General Motors and Hyundai, SES seeks to bridge the gap between laboratory promise and factory reality.
However, given its early stage and largely pre-revenue business model, it’s another highly speculative play with a significant degree of risk. In its Q2 earnings report, the company reported a loss of 7 cents, which missed the consensus by 2 cents.
Revenue fell short of analyst estimates by $0.8 million, at $3.5 million versus $4.3 million. The stock lacks meaningful coverage from the street, with just one analyst taking action so far in 2025. Cantor Fitzgrald reiterated its Overweight rating on the stock in June, with a $2 price target.
Today's EV battery sector echoes the early days of smartphones: Tech is evolving rapidly, supply chains are straining, and the infrastructure for widespread adoption is just taking shape. Demand for lithium and advanced cells will only intensify as EVs go mainstream, but winners will hinge on execution, costs, and policy tailwinds like U.S. incentives.
Their varied lanes set these five apart: LAC and ALB anchor the lithium supply; SLDP and QS chase solid-state disruption; SES adds AI smarts to the mix. It's a volatile and speculative ride, though. Prices fluctuate with metal markets and tech hurdles. However, these stocks could deliver electrifying returns for investors with a decade-long horizon as the world transitions to a greener future.
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The article "5 EV Battery and Lithium Stocks Charging the Future" first appeared on MarketBeat.
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