5 Best EV Battery Stocks to Buy in Late 2022

1. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Holders: 39

Albemarle Corporation (NYSE:ALB) is a Charlotte, North Carolina-based specialty chemicals company that has the distinction of being the biggest lithium producer in the world. Lithium is critical to fulfilling the needs of the EV battery industry.

Albemarle Corporation (NYSE:ALB) is forecasting a production increase of 20% YoY for its refined products due to strong demand for lithium and its rising prices. The company intends to serve the end markets to the maximum. During Q2 2022, the sales of Albemarle Corporation’s (NYSE:ALB) refined products increased by 178% YoY to $892 million.

Albemarle Corporation (NYSE:ALB) is also working on developing its midstream segment aggressively. Given the geopolitical tension between US and China, this is a wise decision, as 90% of the lithium refining capabilities are presently located in China, implying a need for geographical diversification. Albemarle Corporation (NYSE:ALB) is also forming tolling arrangements to gain a strategic advantage against its industry peers, allowing the company to sustain its position as one of the best EV stocks in the market.

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