Should you buy battery stocks in 2024?

The International Energy Agency predicts a tenfold increase in battery demand for electric vehicles over the next decade. Battery stocks haven't fared well for much of 2024, but a big rally has put them back in the spotlight. The Global X Lithium & Battery Tech ETF (ticker: LIT) gained more than 20% in September.

How much money does one have to fund a battery factory?

The $300 million of equity financing is joined with $220 million in grants from the state of Michigan for a total of more than $500 million to fund ONE's battery cell factory. ONE has signed ten customer agreements for its products, totaling 36 GWh over the next five years, and is further preparing for phase two factory investments ahead of plan.

Is solid power a speculative battery stock?

Solid Power is a speculative battery stock that can generate sizable gains if the industry shifts from traditional lithium-ion batteries to solid-state batteries. Current lithium-ion batteries are prone to fires and become less effective when temperatures cool.