Published on 9 Oct 2022 on Insider Monkey via Yahoo Finance

10 Best EV Battery Stocks to Buy in Late 2022

In this article, we discuss the 10 best EV battery stocks to buy in late 2022. If you want to see more stocks in this selection, check out the 5 Best EV Battery Stocks to Buy in Late 2022.

The share of EV sales has taken up more than 5% of the total new automobile sales in the US as of July 2022. The US government is providing incentives to increase the sales and market share of EVs to 50% of the automobile market by the end of this decade. These developments are taking place to reduce greenhouse emissions as the US, the EU, and other leading countries are focusing on becoming net-zero emitters of greenhouse gases by 2050.

Leading automobile companies like General Motors Company (NYSE:GM), Ford Motor Company (NYSE:F), and Volkswagen AG (OTC:VWAGY) are also gearing up to boost sales of EVs. The Detroit, Michigan-based General Motors is targeting to sell 400,000 EVs in 2023. Meanwhile, the Michigan-based Ford Motor anticipates that EVs will take up 50% of its total sales by 2030. Volkswagen is making an even bolder claim as it expects EVs to take up 70% and 55% of its total sales in Europe and the US, respectively, by the end of this decade.