The rise in the production of and popularity of EV vehicles has created a need for the production of more ion batteries. Li-ion or lithium-ion batteries are the power sources that make these environmentally-friendly vehicles work. They serve as the power source and the demand has been on a steady incline. More automakers are getting on board with the EV movement and analysts predict that the demand for Li-ion batteries is going to increase 10-fold by the year 2030. More li-ion battery startups are springing up as a result. Investors are eyeing these companies as possibilities for inclusion in their portfolios as they represent a stable emerging industry where the demand for their manufactured products will continue to rise. Here are five companies leading the way in ion batteries.
5. Ganfeng Lithium
Ganfeng Lithium is a lithium-ion battery manufacturer that operates internationally. The company maintains a presence in several different countries throughout the world. It has strategic lithium operations in Ireland, Mexico, Argentina, Australia, and China. Ganfeng's primary lithium source is in Western Australia in the Mount Marion region. The company gathers lithium resources from a variety of regions throughout the planet. Ganfeng experts understand that each location provides unique challenges for extracting lithium. This means that a variety of approaches required are for each. This is due to geography and environmental conditions. The Australian region requires hard rock extraction processes, Others require brine processing strategies. Another extraction method is clay extraction, which is a new way of obtaining this valuable resource. Ganfeng is one of the largest producers in the world today. It is currently developing efficient extraction methods that conform to local conditions. They're constantly researching the most efficient means of obtaining lithium for producing Li-ion batteries.
4. Albermarle Corporation
Albemarle is a company that is based in Charlotte, North Carolina that focuses on fine chemical manufacturing. There are 3 distinct divisions within Albermarle including lithium, bromine specialties, and catalysts. The chemical manufacturing giant is the largest manufacturer of lithium that is used in the creation of electric vehicle batteries. It's a favorite among investors with total holdings of $112 million. Albermarle Corporation is a publicly-traded company listed on the New York Stock Exchange. Ken Griffin's Citadel Investment Group is the top hedge fund holder of Albermarle Corporation with investments of $34 million in the stock. The net income of the company reported for 2020 stood at $86 million.
Panasonic is another company that is a leader in the production of li-ion batteries. It's a Japanese company that has been in existence for over a century. Panasonic is the third biggest supplier of ion batteries in the world today. It is ranked as a Tier-1 lithium-ion battery manufacturer. The designation means that the company produces the highest-quality lithium-ion batteries, for automotive uses. It's widely recognized as a company that satisfies strict manufacturing standards for producing the highest quality ion batteries for use in the automotive industry. Panasonic has been a longtime partner of Tesla, which provides the company with contracts that extend for years in the future for orders of lithium-ion batteries to supply the production of new electric vehicles. Panasonic is a company that consistently researches new technology in ion batteries to develop new versions that get better range distance with more power for the later model vehicles being produced. They are currently Tesla's sole provider for lithium-ion batteries. They've also partnered with Toyota in a deal that aims to build a lithium-ion plant in 2022 to supply Japan with half a million EVs.
2. Piedmont Lithium
Piedmont Lithium is a mining company that is making lithium discoveries in the state of North Carolina. This is an emerging company that is set to become a domestic supplier of battery-grade lithium hydroxide along with other chemical ingredients that are used in the production of ion batteries for the emerging EV market. This is a company that merits watching as the stocks have soared by 120 percent recently. It's the owner of the Piedmont Lithium Project located at its home base in North Carolina. the recent forecasts project that Piedmont Lithium will increase its lithium resources by a whopping 40 percent shortly with an increased mining scale to make it one of North America's largest lithium resources as well as being the lonely one of its kind in the United States. It's expanding resources for the push to increase the production of batteries to power the new EVs being designed for upcoming sales in the automotive industry. It's a company that has the full attention of investors because of the likelihood of its rapid expansion and profitability as we enter a new boom in EV production.
1. Lithium Americas Corporation
Lithium Americas Corporation is a large resource company that maintains a strong focus on developing two lithium projects. These include the Lithium Nevada project and the Cauchari Olaroz project in Argentina. The company specializes in Nevada's smectic clay lithium extraction and trading on the publicly owned company has been up by 350 percent. It's making significant progress in providing efficient extraction methods for mining lithium from the ground and process it into refined materials for use in the manufacture of lithium-ion batteries for the automotive industry. Lithium Americas Corporation maintains a lime plant, a lithium carbonate plant, and a solvent extraction plant with expectations for production of lithium to commence in the middle of the year 2022. Trading has been wild on the stock exchange with shares sold generating gross proceeds for $400 million to finance the operations. Lithium Americas Corporation is a stock that everyone's interested in because it is set to take off in the next two years with an explosive influx of lithium ingredients to help meet the rising demand for lithium-ion batteries for the fleets of EV vehicles scheduled to flood the market. Their timing couldn't be more perfect.
Written by Allen Lee
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