Electric Vehicle Stock in ASX
Introduce Electric Vehicle company listed in ASX. From global EV industry landscape to EV industrial chain: upstream includes the resources, mainly lithium and cathode materials.
Performance of Electric Car Shares
The enthusiasm for investing in EV (Electric Vehicle) industries has faded since Tesla reported its 23Q3 earnings. The central bankers’ insistence on interest hiking has made victims not only Tesla but also other EV makers around the world. Tesla’s 23Q3 $23.4 billion revenue is short of the $24.1 billion forecast by analysts. So, It is reasonable to see why people are suddenly bearish on EV stocks, but there is no doubt that EVs are the future that the world is shifting to, and the dropping prices of those EV stocks can also provide investing opportunities. So, let’s check out the industrial chain and related stocks.
In 2022, reported by EV-Volumes, Global sales of EV exceeded 10 million units (10,091,164), representing 14% of total vehicle sales. Tesla(NASDAQ: TSLA) claimed first place with a market share of 18.2%, selling 1,314,330 units of pure EV. BYD(SEHK:1211), which launched a pure electric vehicle in 2022, ranked second with 913,052 units sold, accounting for 12.6% of total sales. Many are keeping an eye on its performance this year as it has the potential to surpass Tesla's sales in this segment. SAIC Group(SHSE:600104) took third place, selling 671,725 units, equivalent to 9.3% of total sales, but most of the credit goes to its subsidiary Wuling Motors, whose production of micro-electric vehicles accounted for the majority of sales.
Electric Vehicles Industrial Chain
The EV industry, like any other manufacturing industry, has formed from three categories: Upstream includes the resources, mainly lithium and cathode materials. The midstream consists of battery packs, electronic and mechanical particles, thermal management particles, and vehicle body structures. The downstream includes complete vehicles and charging stations. There are some Australia companys and ASX stocks belong to the EV industry.
Other Heating Industry
Artificial Intelligence Companies in ASX
Hydrogen Companies in ASX
Aged Care Companies in ASX
EV Related Stocks in ASX - Summary
Pilbara Minerals Ltd (ASX: PLS)
Market cap: 10.95 Billion
52wk Low: 3.256
52wk High: 5.294
Pilbara Minerals Ltd has become one of the most important global suppliers of lithium (a key element for making batteries). Even though the stock price has dropped more than 30% from its highest, the leading position in the lithium game is shaken by its stock prices. Pilbara Minerals owned 100% of Pilgangoora Operation, which is one of the largest hard-rock lithium deposits in the world.
A major resource development drilling program was undertaken from November 2022 to June 2023, which resulted in a 55 Mt increase in Ore Reserves for the Pilgangoora Operation, representing a 35% increase in total Proved and Probable Ore Reserve Tonnes. The company, at the same time, is expanding its production capabilities as well. The recent concern about the slowing of EV sales has made a temporary impact on its stock price, but it is worth paying attention to during the downtrend.
NOVONIX (ASX:NVX)
Market cap: 350.60 Million
52wk Low: 2.750
52wk High: 0.615
NOVONIX, listed on both ASX(NVX) and Nasdaq(NVX), is an Australian battery technology company that offers advanced materials, equipment, and services for the global lithium-ion battery industry. With operation in AU, US and CA, NOVONIX has three business units, NOVONIX Anode Materials division (NAM), NOVONIX Battery Technology Solutions division (BTS) and Cathode Materials. The company produces synthetic graphite anode materials used in a range of lithium-ion batteries, including those that power electric vehicles and energy storage systems. NOVONIX also offers services such as materials development and cell design and testing. The company aims to revolutionize the battery industry by using innovative and sustainable technologies, high-performance materials, and efficient production methods, positioning themselves as leaders in the field.
On Nov 1, 2023, NOVONIX has been awarded a $100 million grant from the US Department of Energy to expand its production of high-performance, synthetic graphite anode materials at its Riverside facility in Chattanooga, Tennessee. The grant will help install and commission equipment to achieve up to 20,000 tonnes per annum of capacity from Riverside. NOVONIX is planning to start production at the Riverside facility by late 2024, which will aid in the company's supply agreement with KORE Power.
Li-S Energy (ASX:LIS)
Market cap: 150.45 Million
52wk Low: 0.190
52wk High: 0.430
Li-S Energy Ltd, founded in July 2019, is a Brisbane based company that develops, manufactures, and distributes lithium-sulfur battery technology. Li-S Energy work with Deakin University to commercialize innovative lithium sulfur (Li-S) battery that utilizes boron nitride nanotubes (BNNTs) to enhance energy density significantly beyond that of lithium-ion batteries, while also prolonging the cycle life of Li-S batteries.
Li-S batteries are eco-friendly and available in different formats suitable for electric vehicles and space applications. The company aims to enhance battery energy capacity and cycle stability by incorporating BNNTs and other nanomaterials into battery components. Li-S Energy also provides energy storage solutions and manufactures lithium-ion batteries for renewable energy and electric vehicle storage, serving customers worldwide.
Although LIS does not currently generate any significant revenue(As of Aug 2023), initial testing has shown significantly improved battery performance compared to traditional lithium-sulfur batteries without BNNTs and company have developed plans for a 200MWh facility in the coming years, that will be able to produce commercial quantities of batteries for the first time and generate significant revenue.
Find Out More with moomoo Industrial Chain
From Artificial Intelligence to Electric Vehicles
From ASX to Nasdaq
Industrial Chain - moomoo
Other Electric Car Shares in The World
Albemarle (US: ALB)
Market cap: 14.43 Billion
52wk Low: 119.610
52wk High: 332.078
Albemarle, as a leading global producer of lithium, bromine, and catalyst solutions, produces lithium compounds from its own salt lakes and mineral lithium resources. Its lithium business includes the La Negra processing plant project in the Atacama salt flat in Chile and the Silver Peak salt lake project in the United States. Additionally, the company holds a 49% stake in the Greenbushes lithium spodumene mine in Australia and a 50% stake in Mt Wodgina. As one of the leading lithium suppliers in the world and the competitor of Pilbara Minerals Ltd, its stock prices follow the same path.
Panasonic Corp (US: PCRFY)
Market cap: 20.74 Billion
52wk Low: 8.050
52wk High: 12.747
Panasonic, a Japanese conglomerate, has been a long-standing partner and supplier of Tesla for many years as a significant producer of electric vehicle (EV) batteries. The two companies initially signed a supply agreement in 2009. While Panasonic is no longer an exclusive battery supplier to Tesla, it continues to manufacture large volumes of EV batteries for the carmaker. Recently, Panasonic said it had cut automotive battery production in Japan in September quarter and shrank the division’s annual profit forecast by 15%, which led to a concern about a global slowdown in EV sales.
More EV Market News
Obtain global EV market News with moomoo>>
#The above information as of 2 November 2023.