5 Best EV Battery Stocks to Buy in Late 2022

3. Solid Power, Inc. (NASDAQ:SLDP)

Number of Hedge Fund Holders: 17

Solid Power, Inc. (NASDAQ:SLDP) is a Louisville, Colorado-based producer of solid-state rechargeable batteries for EVs and other applications. Solid Power, Inc. (NASDAQ:SLDP) has secured the third position on our list of the 10 best EV battery stocks.

Solid Power, Inc. (NASDAQ:SLDP) has partnerships with some of the best EV companies, such as BMW and Ford. The company anticipates beginning commercial-level production by 2026. Experts term Solid Power, Inc. (NASDAQ:SLDP) as a game changer as it would provide the EV industry with solid-state batteries that have a shorter charging time and a longer range.

As of Q2 2022, Solid Power, Inc. (NASDAQ:SLDP) has a reserve of $553 million of cash and cash equivalents. According to the management, this would be sufficient to fund the company’s operations till 2026. Experts think Solid Power, Inc. (NASDAQ:SLDP) will continue to experience an increase in battery sales which would help the company offset its capital expenditures (CapEx) costs.

Of the 895 hedge funds tracked by Insider Monkey at the end of Q2 2022, Solid Power, Inc. (NASDAQ:SLDP) was held by 17 funds.