12 Small Cap EV Stocks to Buy Now

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4. EnerSys (NYSE:ENS)

Market Capitalization: $3.57 Billion

Number of Hedge Fund Holders: 30

EnerSys (NYSE:ENS) is a leading stored energy systems and technology company that designs, manufactures, and distributes energy storage solutions and batteries. Through its solutions, the company serves various markets and industrial applications. It operates through four main lines of business: Energy Systems, Motive Power, Specialty, and New Ventures. EnerSys (NYSE:ENS) caters to various industries, including telecommunications, defense, and electric vehicles. Motive Power batteries and chargers are utilized in industrial electric-powered vehicles. Through its New Ventures division, the company offers energy storage and management systems for various applications including utility backup power and dynamic fast charging for electric vehicles. ENS ranks among the best EV stocks to invest in.

In September 2024, EnerSys (NYSE:ENS) announced it was selected for a $199M Department of Energy (DOE) award negotiation to partially fund its new lithium-ion cell production facility in Greenville, South Carolina. In January 2025, the company successfully completed contract and funding negotiations with the DOE to secure the $199 million award. EnerSys (NYSE:ENS) plans to invest about $615 million over four years to develop a state-of-the-art manufacturing facility that will cover 500,000 square feet and produce five-gigawatt hours (GWh) of lithium-ion cells annually. These cells will be used for a variety of products in all of the company’s business areas, including fast charging systems, NexSys iON batteries for electric forklifts, Alpha XRT-Li power systems for communication networks, and future high-energy Li6T batteries for military vehicles.

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