15 Best EV Stocks To Buy According to Billionaires

Page 9 of 14

6. Albemarle Corporation (NYSE:ALB)

Number of Billionaire Investors: 11

Number of Hedge Fund Holders: 36

Albemarle Corporation (NYSE:ALB) is an American specialty chemicals manufacturing company that supplies lithium and bromine and serves customers in approximately 70 countries. The company is one of the world’s largest providers of lithium for electric vehicle batteries. According to billionaires, Albemarle Corporation (NYSE:ALB) is one of the best EV stocks to invest in.

The company is positioning itself to capitalize on the demand for lithium, which is crucial for the global energy transition that is progressing steadily. Albemarle Corporation (NYSE:ALB) noted that EV registrations increased in 2024 by 25% year-over-year.  This growth was driven by China, where demand increased 37% year-over-year driven by balanced subsidies for battery EVs and plug-in hybrids. China now accounts for 65% of the global market demand. Albemarle Corporation (NYSE:ALB) also noted that global battery costs have dropped below $100 per kilowatt hour to support EV affordability and the long-term growth potential of the industry.

The corporation is making strategic moves to capitalize on these growth opportunities. Albemarle Corporation (NYSE:ALB) maintains a strong presence in the lithium supply chain and is currently focused on optimizing its lithium conversion network. By identifying opportunities and improving production efficiency to meet market demands, Albemarle Corporation (NYSE:ALB) is looking to position itself for long-term growth. The company reported that it achieved record production at its La Negra lithium carbonate plant in Chile and the Meishan lithium hydroxide plant in China in Q4 2024.

Page 9 of 14