Electric vehicles (EVs) are rapidly growing in popularity. The transition away from gasoline-fueled vehicles to electrically powered ones promises to be a massive and long-term trend.
There are numerous potential ways to profit from this trend, but one of the best is to invest in the world’s largest lithium producer Albemarle Corp. (NYSE: ALB). Lithium is essential in making the lithium-ion batteries that are currently the battery type of choice for EVs and look to remain so for some time, though there are entities working on competing battery technologies.