Solid-state battery packs are predicted to be the next significant advance in electric cars. Solid electrolytes are used in solid-state batteries, unlike today’s lithium-ion batteries, which employ a liquid polymer or gel. This sort of battery chemistry has a lot of advantages. The most important are increased energy density, faster charging times, and lower fire danger. Higher energy density might help to alleviate the range anxiety that has dogged EVs. The same is true for faster charging times.
That is not to argue that there aren’t issues with solid-state batteries. Scaling up manufacturing is challenging, which is one of the reasons we haven’t seen them employed widely yet. Toyota, for example, intends to launch solid-state-powered automobiles in 2025. Furthermore, the cost of these batteries remains considerable, with recent estimates reaching 800/kWh. For prices to be equivalent to internal combustion cars, lithium-ion batteries must reach around 100/kWh.
Investing in solid-state batteries now is thus a future venture. If that future becomes a reality, these batteries have the ability to transform an already innovative sector.
Here are three EV Battery Stocks that experts say to buy now to make for great long-term investments:
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Panasonic (PCRFY) is a worldwide business that manufactures a wide range of products, from cameras to beard trimmers. PCRFY, on the other hand, is also a major provider of electric car batteries. The business, traded OTC (Over the Counter), was Tesla (TSLA)’s primary battery supplier for a long time. Although Panasonic just sold its interest in Tesla, the company’s ambitions to produce batteries are far from dead. PCRFY is, in fact, hard at work creating revolutionary solid-state battery technologies. As a result, all-solid-state batteries with improved performance will be developed.
PCRFY’s stock reported an EPS of a dollar per share. Its share price was once more than quadruple its pandemic low; currently, it is a little less. Forecasts predict that the stock will continue to climb, making it an excellent addition to your list of solid-state battery stocks to consider investing in. Its third-quarter financial report reveals sales of $1.74 trillion (about $15 billion), up 4.43% from the previous year. More impressively, net income and net profit margins increased by 30% and 25%, respectively. Its current quarter shows us 30 cents per share and $16.3 million in sales. PCRFY has a price target of 14.47, with a high of 19.36 and a low of 9.21 among analysts providing 12-month price estimates. This reflects a 29.90% gain over its most recent price, and experts agree to buy and hold Panasonic.
QuantumScape Corp (QS)
QuantumScape (QS) is one of the most prominent solid-state battery technology companies on the market today. The business is now working on lithium-metal cells that can keep more than 90% of their life after 1,000 charge cycles. The increased density of solid-state batteries might imply just a 10% loss of life after 500,000 kilometers. QS obtained a $300 million investment from Volkswagen and was sponsored in its IPO by Bill Gates, confirming the authenticity of its technology.
QS was established in 2010 and is headquartered in San Jose, California. It went public in late 2020 and has a market capitalization of $12.8 billion. Its stock now has an earnings-per-share (EPS) of -3.85, with no earnings reported. Surprisingly though, following an early IPO rise, QS’s share price has stayed essentially steady following an early IPO rise. This is hardly unexpected, given that its batteries will not be available in production vehicles until at least 2024. Nonetheless, its battery technology is fantastic, and it has the evidence to back up its claims. The consensus 12-month price target for QS from analysts providing 12-month predictions is 31.50, with a high of 40.00 and a low of 25.00. The median is a 30.17% rise over its most recent price, and the consensus among experts is to buy and hold stock in QS.
Toyota Motor Corp (TM)
Several reports indicate that Toyota (TM) is not enthusiastic about EVs. Nonetheless, as of 2018, TM has by far the most solid-state battery patents of any firm. In fact, it possesses more than five times the number of solid-state patents as Samsung, the second-largest holder. As a result, TM has high hopes for solid-state batteries. Toyota’s solid-state batteries, in fact, may be able to charge from empty to full in as little as 10 minutes.
TM, of course, is another solid-state battery stocks manufacturer with a business plan that includes more than simply batteries. As a result, its market capitalization is close to $250 billion, its stock has a favorable EPS of 32.08, and it also offers an impressive 4.46% projected dividend yield. During the pandemic, its stock price has surged by more than 50%. This robust upward trend is expected to continue. Forecasts show both annual and quarterly growth for EPS and revenue. They already offer $4.29 per share and $66.7 billion in sales for the current quarter. TM has a median price goal of 213.94, with a high of 242.88 and a low of 167.20 among analysts providing 12-month price estimates. The median estimate reflects an 18.49% gain from its current price, and the consensus is strong to buy stock in Toyota.
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