12 Small Cap EV Stocks to Buy Now

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2. Albemarle Corporation (NYSE:ALB)

Market Capitalization: $6.60 Billion

Number of Hedge Fund Holders: 36

Albemarle Corporation (NYSE:ALB) is a specialty chemical company and one of the largest producers of lithium globally. The company supplies lithium and bromine to customers in approximately 20 countries around the world and provides essential resources for use in critical ingredients for mobility, energy, connectivity, and health. It is one of the world’s largest providers of lithium for EV batteries. Albemarle Corporation (NYSE:ALB) is one of the best EV stocks to buy.

The company is focused on taking advantage of the rising global demand for lithium. Albemarle Corporation’s (NYSE:ALB) management highlighted that it expects global lithium demand to grow between 15% to 40% in 2025, depending on tariff impacts, policy changes, and economic trends. In the longer term, the management believes lithium demand will more than double from 2024 to 2030, driven by the global demand for EVs and grid storage. Additionally, the management expects global EV market penetration or share of vehicle production will surpass internal combustion engines by the end of the decade. To capitalize on these trends, Albemarle Corporation (NYSE:ALB) is improving production efficiency and optimizing its lithium conversion network. In Q4 2024, the company set new production records at its La Negra lithium carbonate plant in Chile and Meishan lithium hydroxide plant in China.

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