10 Best Electric Vehicle Supply Chain Stocks to Buy Right Now

7. Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Number of Hedge Fund Holders: 21

Market Cap: $12.21 billion

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is one of the best electric vehicle supply chain stocks to buy right now. On September 4, Itau BBA resumed coverage of Sociedad Química y Minera de Chile S.A. (NYSE:SQM), with an Outperform rating and a 12-month price target of $55, which implies an upside of 19.9%. As of September 5, the stock was trading at $45.87.

The firm noted that the pending regulatory measures and investment delays could drive lithium prices up over the next 12-24 months. It also cited the successful approval of the Codelco agreement as a key catalyst for the stock.

In May 2024, Minera Tarar, a subsidiary of Codelco, and SQM entered into a joint venture to produce refined lithium, a key material used in EV cars, in Salar de Aticama in Chile.  The goal of the partnership over the next five years is to add 300,000 tonnes of Lithium Carbonate Equivalent (LCE) annually, only through efficiency improvements and not resource extraction.

In July 2025, Codelco secured regulatory approval for a new lithium quota, which was thus far one of the biggest hurdles to producing the battery metal. Chile’s nuclear energy regulator CCHEN approved the extraction of 2.5 million metric tons of lithium metal equivalent (LME) through the partnership from 2031 to 2060.