11 Small Cap EV Stocks to Invest In

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5. Sigma Lithium Corporation (NASDAQ:SGML)

Market Capitalization: $1.23 Billion

Number of Hedge Fund Holders: 16

Sigma Lithium Corporation (NASDAQ:SGML) is a leading Canadian company focused on producing lithium for electric vehicle batteries. It operates at the forefront of sustainability, with its Grota do Cirilo operation in Brazil producing Quintuple Zero Green Lithium. This innovative lithium is created with zero carbon emissions, no potable water, no toxic chemicals, and no tailings dams.

In Q3 2024, Sigma Lithium Corporation (NASDAQ:SGML) produced 60,237 tonnes of Quintuple Zero Green Lithium Concentrate, exceeding its target of 60,000 tonnes. Sales volumes also increased by 9% quarter-on-quarter, totaling 57,483 tonnes. The company also maintains one of the lowest cash operating costs in the industry.

On September 24, 2024, Sigma Lithium Corporation (NASDAQ:SGML) held its Investor Day, celebrating its first year of production and outlining plans to achieve an industrial capacity of approximately 125,000 tonnes per year of lithium carbonate equivalent (LCE) by 2026. This expansion includes two new industrial lines expected to start production in 2025 and 2026, which will significantly enhance output and efficiency. Sigma Lithium Corporation (NASDAQ:SGML) has also demonstrated commitment to strong financial management by projecting an adjusted cash EBITDA of $155 million by 2025 and nearly $700 million by 2027. This growth strategy is based on maximizing economies of scale, subsidized financing, and maintaining its commitment to carbon neutrality.

SGML is one of the best EV stocks to buy. The company’s focus on sustainable practices and its robust growth plan makes it an attractive investment opportunity in the electric vehicle sector. With increasing demand for lithium and a solid operational foundation, Sigma Lithium Corporation (NASDAQ:SGML) is poised for continued growth.

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