12 Most Promising EV Battery Stocks According to Wall Street Analysts

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

Analysts’ Upside Potential as of April 29: 143.84%

Solid Power, Inc. (NASDAQ:SLDP) develops solid-state battery technology. The company, in contrast to other solid-state battery rivals like QuantumScape, aims to market its solid electrolyte or license its technology for use in manufacturing at other battery producers. Moreover, its designs can reach the market more quickly because its technology is compatible with modern technologies. It is one of the Most Promising Stocks with an upside potential of 143.84%.

In 2024, Solid Power, Inc. (NASDAQ:SLDP) received a $50 million award from the U.S. Department of Energy to manufacture its solid-state battery electrolyte materials. The award should help boost its cash runway, as its minimal partner revenue began to slow in the latter half of 2024. The firm’s electrolyte manufacturing capacity is expected to increase by 150% to 75 metric tons by 2026, and it may reach 140 metric tons by 2028.

Ford Motor and Solid Power, Inc. (NASDAQ:SLDP) have already extended their joint development agreement. The goal of the strategic partnership is to advance solid-state battery technology, which should open up new business prospects for the auto parts manufacturer.

Solid Power, Inc. (NASDAQ:SLDP) produced strong 2024 results, with revenues rising by 2.7 million to $20.1 million. The growth was mostly driven by the strategic partnership with SK On. The business had $327.5 million in cash and cash equivalents at the end of the year, which was enough to scale its operations.