Why this leading ASX lithium share is tipped to ride the EV revolution
Bernd Struben | April 15, 2021 3:13pm |
More on: Image source: Getty Images
If you’re thinking that ASX lithium shares are garnering as much attention as Bitcoin of late, you’re right.
That’s partly because some ASX lithium shares have gained almost as much, or even more than Bitcoin has over the past 12 months. And, more importantly, because many leading analysts believe the booming demand for lithium is set to continue for years.
If they’re right, that would be welcome news for shareholders of some of Australia’s top lithium explorers and producers.
The Aussie stocks ready to benefit from electric vehicles
While many investors may be priced out of investing in stocks like Tesla, there are other ways to play the EV story.
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The first name that comes to most people’s minds when they think of electric vehicle stocks is Tesla. The US mega-cap has become synonymous with the movement to electrify the automobile space but its surging share price has made it a difficult investment proposition.
Despite producing just more than 500,000 cars in 2020, Tesla’s market capitalisation of $US673.8 billion ($886 billion) values it at almost three times that of Toyota, which produced 9.2 million vehicles in 2020.