In this article, we will look at the 10 Best Electric Vehicle Supply Chain Stocks to Invest In.
Electric vehicle stocks are getting a more selective look as investors move past the question of which automaker can sell the most cars. The consideration now is where value can still be created as the EV market matures, pricing pressure rises, and expectations reset across the industry. Franklin Templeton notes that “stocks across the electric vehicle (EV) supply chain have struggled in recent years,” but also says “the setup now is appealing” because “expectations have reset lower” and valuations appear to be discounting growth. That helps explain why the supply chain angle is becoming more important. The best opportunities may not sit only with the brands selling vehicles, but with the companies enabling batteries, chips, materials, charging, and manufacturing efficiency.
Further, Franklin Templeton argues that “the fundamental investment case underpinning most aspects of the EV supply chain” remains solid and points to “attractive investment opportunities” in EV batteries, semiconductors, and raw materials. Invesco similarly says it expects “investment opportunities along the EV supply chain,” including “batteries, die-casting machines, SiC power devices and charging stations.” Robeco’s smart mobility framework also looks beyond automakers, listing “EV Component Suppliers,” “EV Manufacturers and Subsystem Suppliers,” and “EV Infrastructure” as part of the investment scope.
In summary, the EV supply chain is not one narrow industry. It stretches from battery materials and power semiconductors to electric powertrains, charging systems, smart grids, lightweight materials, and production equipment, among others. With that in mind, let’s take a look at the 10 Best Electric Vehicle Supply Chain Stocks to Invest In.
Our Methodology
We used the Finviz screener to identify electric vehicle supply chain stocks that are viewed favorably by analysts. We then limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
10. MP Materials Corp. (NYSE:MP)
On May 11, 2026, Morgan Stanley analyst Carlos De Alba raised the firm’s price target on MP Materials Corp. (NYSE:MP) to $70 from $62 previously while maintaining an Overweight rating on the shares.
On May 8, 2026, Goldman Sachs analyst Brian Lee also raised the firm’s price target on MP Materials Corp. to $80 from $71 previously and maintained a Buy rating on the shares.
On May 7, 2026, MP Materials Corp. reported Q1 EPS of 3c, versus the consensus estimate of a loss of (4c). Revenue totaled $90.65M, versus the consensus estimate of $72.14M. Founder, Chairman, and CEO James Litinsky said the company achieved record NdPr production and sales during the quarter while generating solid adjusted EBITDA. Litinsky also highlighted progress across several growth initiatives, including the expansion of operations at Independence, groundbreaking activities at the 10X facility, and upcoming commissioning work for scaled heavy rare earth separation at Mountain Pass. The company said these developments underscore continued execution across its vertically integrated rare earth platform.
MP Materials Corp. produces rare earth materials in the Western Hemisphere.
9. American Battery Technology Company (NASDAQ:ABAT)
On May 11, 2026, American Battery Technology Company (NASDAQ:ABAT) reported Q3 revenue of $7.8M. During the quarter, the company said it significantly ramped and streamlined operations at its Nevada critical mineral recycling facility, resulting in record revenue that increased 64% quarter over quarter, while cost of goods sold rose only 11% over the same period. The company also achieved its first positive gross margin.
American Battery Technology Company said the increased throughput at its recycling facility enabled it to benefit from favorable market conditions and strengthen its position as a major critical mineral recycler in the United States. CEO Ryan Melsert described the achievement of positive gross margin as a significant milestone that supports self-sustaining operations at the company’s recycling facility. Melsert added that the gross profit generated from the facility will help fund the continued expansion of its first recycling operation, development of a second recycling facility, and the construction and ramp-up of its lithium mine and refinery as part of efforts to build a closed-loop domestic critical mineral supply chain in the United States.
On April 28, 2026, Maxim initiated coverage of American Battery Technology Company with a Buy rating and a $6 price target on the shares.
American Battery Technology Company develops battery materials technologies and explores for battery metals, including lithium, nickel, cobalt, and manganese, in the United States.
8. Amprius Technologies, Inc. (NYSE:AMPX)
On May 11, 2026, Northland raised the firm’s price target on Amprius Technologies, Inc. (NYSE:AMPX) to $24 from $20 while maintaining an Outperform rating on the shares after the company reported strong Q1 results and increased FY26 guidance. The firm said it believes Amprius is approaching a growth inflection point and sees a clearer path toward profitability.
Roth Capital also raised the firm’s price target on Amprius Technologies, Inc. to $22 from $20 and maintained a Buy rating on the shares. The firm cited the company’s record Q1 revenue and negotiated redemption of legacy warrants, adding that it would be a buyer on weakness.
On May 6, 2026, Amprius Technologies, Inc. reported Q1 EPS of (4c), versus the consensus estimate of (2c). Revenue totaled $28.5M, versus the consensus estimate of $25.7M. CEO Tom Stepien said the company entered 2026 with momentum, with Q1 revenue increasing 13% sequentially as a result of deeper relationships with existing drone customers and continued expansion into new end markets. Stepien also pointed to a recently announced $21M purchase order from a light electric vehicle customer as evidence of growing commercial adoption of the company’s silicon anode battery technology. The company said the combination of operational execution, repeat business, and new program wins supports its outlook for continued growth.
Amprius Technologies, Inc. raised its FY26 revenue outlook to at least $130M from at least $125M. Consensus estimate stands at $126.1M.
Amprius Technologies, Inc. develops, manufactures, and markets lithium-ion batteries for mobility applications.
7. Allegro MicroSystems, Inc. (NASDAQ:ALGM)
On May 8, 2026, UBS analyst Timothy Arcuri raised the firm’s price target on Allegro MicroSystems, Inc. (NASDAQ:ALGM) to $55 from $52 while maintaining a Buy rating on the shares. Evercore ISI analyst Mark Lipacis also raised the firm’s price target on Allegro MicroSystems, Inc. to $53 from $49 and maintained an Outperform rating.
Similarly, Jefferies analyst Blayne Curtis raised the firm’s price target on Allegro MicroSystems, Inc. to $62 from $45 and maintained a Buy rating following the company’s Q1 results. The firm said Allegro’s data center business is becoming a more meaningful part of the investment story and cited higher peer multiples along with growing data center exposure for the target increase.
On May 7, 2026, Allegro MicroSystems, Inc. reported fiscal Q4 EPS of 17c, versus the consensus estimate of 16c. Revenue totaled $243.19M, versus the consensus estimate of $235.94M. President and CEO Mike Doogue said the company finished fiscal 2026 with strong momentum, marking a fifth consecutive quarter of sales growth. Doogue added that full-year sales increased 23% to $890M while non-GAAP EPS more than doubled to $0.54. The company said results were driven by strength in automotive applications, including xEV and ADAS, as well as data center demand, which represented a record 14% of total Q4 sales.
Allegro MicroSystems, Inc. said it remains confident in demand trends heading into fiscal 2027 and expects Q1 EPS of 19c-23c, versus the consensus estimate of 20c.
Allegro MicroSystems, Inc. designs, develops, manufactures, and markets sensor integrated circuits and application-specific power ICs for motion control and energy-efficient systems.
6. Albemarle Corporation (NYSE:ALB)
On May 12, 2026, Deutsche Bank analyst David Begleiter raised the firm’s price target on Albemarle Corporation (NYSE:ALB) to $250 from $210 while maintaining a Buy rating on the shares. The firm said stronger lithium prices suggest Albemarle could reach the upper end of its outlook range.
On May 11, 2026, RBC Capital also raised the firm’s price target on Albemarle Corporation to $253 from $245 and maintained an Outperform rating. The firm said the company delivered a strong Q1 earnings beat and raised its FY26 Specialties guidance. RBC added that while management did not revise its lithium price assumptions, lithium prices in the low-to-mid $20s per kilogram range could push EBITDA toward the upper end of guidance.
Similarly, Truist raised the firm’s price target on Albemarle Corporation to $260 from $245 while maintaining a Buy rating following the company’s Q1 results. The firm said Energy Storage earnings are inflecting significantly, supported by stronger lithium pricing that could continue driving earnings growth in the near term.
Albemarle Corporation provides energy storage solutions globally through its Energy Storage, Specialties, and Ketjen segments.
5. BorgWarner Inc. (NYSE:BWA)
On May 7, 2026, TD Cowen analyst Itay Michaeli raised the firm’s price target on BorgWarner Inc. (NYSE:BWA) to $67 from $66 while maintaining a Hold rating on the shares. The firm said its updated model following Q1 results left it more constructive on the company’s outlook as earnings resilience, new automotive wins, and expansion into non-automotive products improve the setup for 2027, with revenue expected to inflect higher across both auto and non-auto markets.
Meanwhile, Barclays raised the firm’s price target on BorgWarner Inc. to $75 from $70 previously and maintained an Overweight rating on the shares.
On May 6, 2026, BorgWarner Inc. reported Q1 adjusted EPS of $1.24, versus the consensus estimate of $1.17. Revenue totaled $3.53B, versus the consensus estimate of $3.5B. The company said it continues expanding its data center and industrial portfolio, which now includes battery energy storage systems and bi-directional microgrid inverters. BorgWarner also said its planned turbine generator system launch for 2027 remains on schedule, with B-samples already delivered to customers.
BorgWarner Inc. reaffirmed its FY26 adjusted EPS outlook of $5.00-$5.20, versus the consensus estimate of $5.16, and maintained its FY26 revenue outlook of $14B-$14.3B, versus the consensus estimate of $14.18B. The company said it expects another year of adjusted operating margin improvement and EPS growth despite expectations for weighted light vehicle markets to range from down 3% to approximately flat in 2026, alongside lower Battery Energy Systems segment sales. BorgWarner added that expected foreign currency benefits, primarily from a stronger euro and Chinese renminbi, should contribute approximately $200M in additional sales year over year.
BorgWarner Inc. provides technology solutions for combustion, hybrid, and electric vehicles worldwide.
4. Magna International Inc. (NYSE:MGA)
On May 4, 2026, TD Securities analyst Brian Morrison raised the firm’s price target on Magna International Inc. (NYSE:MGA) to $76 from $75 while maintaining a Buy rating on the shares. The firm described the company’s Q1 results as solid and said Magna appears positioned to achieve the mid-to-high end of its guidance range. TD Securities also viewed the post-earnings share price weakness as a buying opportunity.
On May 1, 2026, Magna International Inc. reported Q1 adjusted EPS of $1.38, versus the consensus estimate of $1.01. Revenue totaled $10.38B, versus the consensus estimate of $10.27B. The company said it delivered a strong start to 2026 through disciplined execution, margin expansion, and strong free cash flow generation. Magna International Inc. also said recent portfolio refinement actions, including announced dispositions within its Power & Vision segment, support its focus on long-term value creation. The company added that its priorities remain centered on margin expansion, free cash flow generation, and shareholder returns while operating in a dynamic global environment.
The company reaffirmed its FY26 adjusted EPS outlook of $6.25-$7.25, versus the consensus estimate of $6.70, and raised its FY26 revenue outlook to $41.9B-$43.5B from $41.5B-$43.1B. Consensus estimate stands at $42.42B. Magna International Inc. also maintained its FY26 adjusted EBIT margin outlook of 6%-6.6% and capital expenditure outlook of $1.5B-$1.6B.
Magna International Inc. operates as an automotive supplier across North America, Europe, the Asia Pacific, and other international markets.
3. Lear Corporation (NYSE:LEA)
On May 5, 2026, Barclays raised the firm’s price target on Lear Corporation (NYSE:LEA) to $150 from $140 while maintaining an Equal Weight rating on the shares following the company’s Q1 report. The firm said Lear appears on track to achieve the upper end of its 2026 guidance range.
Meanwhile, Citi raised the firm’s price target on Lear Corporation to $179 from $177 and maintained a Buy rating on the shares.
On May 1, 2026, Lear Corporation reported Q1 adjusted EPS of $3.87, versus the consensus estimate of $3.51. Revenue totaled $5.82B, versus the consensus estimate of $5.84B. President and CEO Ray Scott said the company delivered its highest quarterly adjusted EPS since 2019 despite a dynamic operating environment, while both business segments posted year-over-year margin improvement. Scott added that Lear continues to benefit from strong new business awards and expanding relationships with Chinese automakers, which increased backlog across both segments. The company also highlighted targeted investments in automation and digital tools that are supporting long-term growth initiatives and enabling faster program launches, including seating programs for GM full-size SUVs and pickup trucks in Orion.
Lear Corporation reaffirmed its FY26 revenue outlook of $23.21B-$24.01B, versus the consensus estimate of $23.6B. The company also maintained its FY26 adjusted EBITDA outlook of $1.65B-$1.82B, capital spending outlook of $660M, and free cash flow outlook of $550M-$650M. The company said its guidance assumes global industry production will decline approximately 2% year over year on a Lear sales-weighted basis and excludes any potential future impact from tariff changes or broader production disruptions.
Lear Corporation designs, develops, engineers, manufactures, and supplies automotive seating and electrical distribution systems for automotive OEMs globally.
2. NXP Semiconductors N.V. (NASDAQ:NXPI)
On May 13, 2026, Cantor Fitzgerald analyst Matthew Prisco raised the firm’s price target on NXP Semiconductors N.V. (NASDAQ:NXPI) to $380 from $340 while maintaining an Overweight rating on the shares. The firm said the analog semiconductor cycle turned higher in Q1, supported by broad-based earnings beats and guidance increases tied to strength in industrial and data center markets. Cantor Fitzgerald added that improving pricing, lead times, and order trends point to a fifth consecutive quarter of above-seasonal growth, though the analog segment may still face challenges outperforming more AI-focused semiconductor areas.
Barclays analyst Tom O’Malley also raised the firm’s price target on NXP Semiconductors N.V. to $340 from $295 and maintained an Overweight rating following discussions with management. The firm said the company’s growth drivers are gaining momentum, adding that NXP’s edge AI strategy is supported by the fastest-growing $1B opportunity funnel in its history.
On April 28, 2026, NXP Semiconductors N.V. reported Q1 non-GAAP EPS of $3.05, versus the consensus estimate of $2.98. Revenue totaled $3.18B, versus the consensus estimate of $3.15B. CEO Rafael Sotomayor said the company delivered 12% year-over-year revenue growth, supported by broad-based improvement across its end markets and continued traction from company-specific growth drivers. Sotomayor added that customer adoption of NXP’s industrial and automotive processing portfolio continues to increase, particularly in areas tied to software-defined vehicles and physical AI. The company said it expects momentum to accelerate through the rest of 2026 while remaining focused on disciplined investment, margin expansion, and portfolio optimization.
NXP Semiconductors N.V. develops and supplies semiconductor products globally across automotive, industrial, mobile, and communications markets.
1. Analog Devices, Inc. (NASDAQ:ADI)
On May 13, 2026, Cantor Fitzgerald raised the firm’s price target on Analog Devices, Inc. (NASDAQ:ADI) to $510 from $400 while maintaining an Overweight rating on the shares. The firm said the analog semiconductor cycle turned higher in Q1, supported by broad-based earnings beats and guidance increases tied to strength in industrial and data center markets. Cantor added that improving pricing, lead times, and order trends point to a fifth consecutive quarter of above-seasonal growth, though the analog segment may still lag more AI-focused semiconductor areas.
Wells Fargo also raised the firm’s price target on Analog Devices, Inc. to $470 from $410 and maintained an Overweight rating. The firm said it remains constructive on the stock ahead of Q2 results and expects another beat-and-raise quarter driven by accelerating AI demand and continued industrial market strength.
Similarly, Oppenheimer raised the firm’s price target on Analog Devices, Inc. to $450 from $400 while maintaining an Outperform rating ahead of earnings. The firm said it expects upside to both Q2 results and Q3 guidance, supported by strength in industrial and communications markets.
Analog Devices, Inc. designs, manufactures, tests, and markets integrated circuits, software, and subsystem products globally.
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