Tesla's Lithium Refinery Plans to Revolutionize Battery Industry
Elon Musk has called lithium batteries "the new oil" and Tesla is investing $375 million in a lithium refinery in Texas. While Tesla is an obvious investment choice, there are smaller companies in the lithium battery space that could also benefit from the trend. Two such companies are Microvast Holdings and Li-Cycle Holdings, both priced below $10. Microvast is a leader in lithium-ion battery tech and has a global reach, while Li-Cycle specializes in advanced lithium-ion battery resource recovery. Analysts see potential in both companies, with H.C. Wainwright giving Microvast a Buy rating and Piper Sandler giving Li-Cycle an Overweight rating.