11 Small Cap EV Stocks to Invest In

6. Sigma Lithium Corporation (NASDAQ:SGML)

Number of Hedge Fund Holders: 20

One of the best EV stocks, Sigma Lithium Corporation (NASDAQ:SGML) is establishing a significant presence in the lithium market, primarily through its operations in Brazil. The company controls several properties in Minas Gerais, covering approximately 185 square kilometers.

Despite challenges in the broader lithium market, it has shown impressive operational and financial resilience. In the second quarter, production ramped up to an impressive 22,000 tonnes every 30 to 35 days. The consistent output enabled the company to secure favorable credit terms related to exports, further improving its market position.

Management has laid out ambitious expansion plans, aiming to increase production capacity to 100,000 tonnes of lithium carbonate equivalent (LCE) by 2026. During Q2’s earnings call, they emphasized a disciplined growth strategy, which focuses on one production line at a time to ensure efficiency and quality.

The immediate goal is to produce approximately 80,000 tonnes of LCE, equivalent to 520,000 tonnes of lithium concentrate, by the end of next year. Once this target is reached, the company will initiate the construction of a third production line capable of producing 250,000 tonnes of LCE.

Moreover, on September 16, Sigma Lithium (NASDAQ:SGML) announced it remains on track to meet its third-quarter production target of 60,000 tonnes of Quintuple Zero Green Lithium, which points to its commitment to sustainability. Additionally, the company reported that it is shipping 22,000 tonnes of this green lithium to Mitsubishi, which is evidence of its ability to maintain a consistent operational pace with near-monthly shipments.