12 Most Promising EV Battery Stocks According to Wall Street Analysts

6. Lithium Americas Corp. (NYSE:LAC)

Analysts’ Upside Potential as of April 29: 52.86%

Lithium Americas Corp. (NYSE:LAC) is a company that only produces lithium. The company controls 62% of Thacker Pass, which is located in northwest Nevada, with General Motors controlling the remaining 38%. Thacker Pass has recently begun construction and is projected to begin producing in the mid- to late 2020s. Thacker Pass is one of the world’s most significant lithium resources. Morningstar analysts predict that the project will be in the lower half of the worldwide cost curve and would be the first clay-based asset to go into production. The management intends to turn Thacker Pass into a fully functional lithium production facility that will sell to the lithium chemical market and have on-site downstream refining capabilities.

The company’s joint venture with General Motors Company is what makes it so appealing. As part of the agreement, General Motors Company will get the 20-year exclusive right to Thacker Pass Phase 1 production capacity. The collaboration guarantees a consistent consumer for Lithium Americas Corp. (NYSE:LAC)’s future output and underlines the project’s significance to GM’s electric vehicle goals. For this reason, Lithium Americas Corp. (NYSE:LAC) has a 52.86% upside potential from its current price, making it one of the Most Promising Stocks.

The company has a healthy liquidity position as of December 31, 2024, with over $594.2 million in cash, cash equivalents, and restricted cash on hand. Lithium Americas Corp. (NYSE:LAC) capitalized $179.9 million in construction capital costs and other project-related expenses throughout the year, showing ongoing investments in development and infrastructure projects to support long-term growth.