EV Penny Stocks List: From $10 to Under $1

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

Number of Hedge Fund Holders: 13

Share Price as of April 16 2025: $1.07

Solid Power, Inc. (NASDAQ:SLDP) is an auto parts company that develops and sells solid-state battery technologies for electric vehicles (EV) and other markets. Its edge as one of the best EV players stems from working closely with established automakers, such as BMW and SK On, on developing competitive solid-state battery technology for the auto industry.

Solid Power, Inc. (NASDAQ:SLDP) has already extended its joint development agreement with Ford Motor. The strategic collaboration seeks to enhance the development of solid-state battery technology, which is expected to unlock new growth opportunities for the auto parts company. In addition, the company is negotiating a $50 million grant from the US Department of Energy to enhance its production capacity to capitalize on the growing demand for batteries in the EV space.

Solid Power, Inc. (NASDAQ:SLDP) delivered solid 2024 results characterized by a 2.7 million increase in revenues to $20.1 million. The strategic agreement with SK On mostly drove the increase. The company exited the year in a strong liquidity position with $327.5 million in cash and cash equivalents, sufficient to scale its operations.

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