To The Moon

With the long-term trend of electrification unlikely to fade away anytime soon, and the lithium market showing signs of recovery with prices rising by double digits, some experts argue that it's time to scoop up some of the best battery stocks, like these three.

1.$Lithium Americas Corp.(LAC)$

Lithium Americas is one of the stocks in the lithium mining sector that could potentially yield multi-bagger returns. Despite the headwinds in the lithium market, this top-tier lithium producer's stock has dropped about 30% year-to-date.

But that hasn't stopped its progress in lithium production. The company aims to reach full production capacity in the next four years, recovering lithium worth up to $3.9 billion.

The Thacker Pass project is a gem in the lithium mining world, with a post-tax net present value of $5.7 billion.And with a $2.26 billion funding commitment from the US Department of Energy, the company has secured enough funds for the first phase of its project.

Combined with a significant $650 million investment from $General Motors(GM)$ , Lithium Americas is now in an excellent strategic position to advance projects.

2. $Toyota(TM)$

The automotive giant has seen its stock buck the trend recently, rising nearly 27%, outperforming the $S&P 500(.SPX)$ 's 7.5% return. Toyota has been cautious about the electric vehicle business, so the recent slump in the EV market hasn't hit its stock too hard.

Moreover, Toyota has been investing heavily in solid-state batteries, shelling out $13.6 billion. According to Toyota, these batteries will be released in 2027, boasting features like 10-minute fast charging and a range of 750 miles. That means by the late 2020s, these features will revolutionize the EV game, drastically improving the car's range and efficiency while reducing costs by 50%.

3. $Solid Power, Inc(SLDP)$

$Solid Power, Inc(SLDP)$ is perhaps the best bet in solid-state batteries. The company's solid-state batteries stand out in terms of charging speed, safety, and energy density, potentially reviving the sluggish EV market and taking EVs to new heights.

Over the past few years, Solid Power has made remarkable progress, providing sample batteries to its automotive partners for testing. In addition, the company aims to develop the even more superior A-2 prototype battery, achieving even higher safety and performance.

With the backing of giants like BMW and $Ford(F)$ , Solid Power continues to charge ahead. And investors have faith in this stock, propelling it 30% higher in the past six months.