12 Best EV Battery Stocks to Buy in 2025

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7) Toyota Motor Corporation (NYSE:TM)

Number of Hedge Fund Holders: 18

Toyota Motor Corporation (NYSE:TM) is engaged in designing, manufacturing, assembling, and selling passenger vehicles, minivans, and commercial vehicles. In early March 2024, the company agreed with Panasonic Holdings Corporation to make Primearth EV Energy Co., Ltd. a wholly owned subsidiary to strengthen its capabilities in mass-producing automotive batteries. It also decided to change the company name to TOYOTA BATTERY Co., Ltd. Toyota Motor Corporation (NYSE:TM) expects that it can manufacture next-generation solid-state batteries at the same rate as current batteries for EVs, demonstrating a strong move in the global competition to commercialize the technology. Furthermore, Fortune Business Insights mentioned the company’s plans to spend US$13.5 billion to develop electric vehicle battery technology by 2030.

It also highlighted that it is targeting to launch EVs with solid-state batteries as early as 2030. The company announced that Toyota Engineering & Manufacturing North America, Inc. (TEMA), inclusive of Toyota Motor North America (TMNA) R&D, was selected to get $4.5 million in funding from the US Department of Energy, Advanced Research Projects Agency-Energy (ARPA-E). The funding forms part of the Catalyzing Innovative Research for Circular Use of Long-lived Advanced Rechargeables (CIRCULAR) Program, which emphasizes supporting a circular domestic supply chain for electric vehicle (EV) batteries.

Furthermore, strategic investments in solid-state battery technology are expected to provide the company with a major competitive advantage by providing longer range and faster charging times. By 2030, Toyota Motor Corporation (NYSE:TM) plans to offer at least 30 BEV models and anticipates selling ~3.5 million BEVs a year globally. In Europe, the company’s BEV line-up is expected to expand to 10 models by 2025. Through the introduction of cost-effective models, Toyota Motor Corporation (NYSE:TM) can tap into the mass market, further enhancing its sales volume and profitability.

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