12 Cheap EV Stocks to Buy According to Hedge Funds

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9. Sigma Lithium Corporation (NASDAQ:SGML)

Forward P/E: 19.08

Number of Hedge Fund Holders: 21

Sigma Lithium Corporation (NASDAQ:SGML) is a global leader in lithium production. The company is one of the world’s largest producers of lithium for EV batteries and energy storage solutions. At its Grota do Cirilo operation in Brazil, Sigma Lithium Corporation (NASDAQ:SGML) produces Quintuple Zero Green Lithium, which is created with zero carbon emissions, no potable water, no toxic chemicals, and no tailings dams. SGML ranks among the best cheap EV stocks to buy.

In September 2024, Sigma Lithium Corporation (NASDAQ:SGML) held its Investor Day and outlined plans to increase its industrial capacity to approximately 125,000 tonnes per year of lithium carbonate equivalent (LCE) by 2026. This increase will come from 2 new industrial lines, with production set to begin in 2025 and 2026. Recently, Sigma Lithium Corporation (NASDAQ:SGML) reported that it remains on track to double its production capacity in 2025. The company has completed all foundation earthworks for its second Greentech industrial plant on time and within budget, with commissioning expected to begin in Q4 2025. Sigma Lithium Corporation (NASDAQ:SGML) also emphasized its cost-efficient approach. The company is leveraging its position as one of the world’s lowest-cost lithium producers to meet the growing demand for lithium. Sigma Lithium Corporation (NASDAQ:SGML) expects the lithium market to grow significantly by the end of the decade.

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