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Highlights
- Australia had 30 electric car models as of April 2022.
- EV companies like Magnis Energy Technology’s shares were trading in green today.
The primary electric vehicle metals include lithium, cobalt, nickel, rare earth metals and manganese and ogether with graphite these metals are crucial to the global transition to electric cars as these metals are used in batteries fitted in electric vehicles (EVs).
These metals and many others are used in high-tech applications like electric vehicles, renewable energy, nuclear technology, smartphones, defence systems, and exotic scientific applications.
According to the EVGuide Report, 2022 by carsguide, more than 40,000 EVs have been sold since 2011.
In Australia, 30 electric car models, 65 variants, 28 plug-in hybrid electric vehicles (PHEVs), and 37 battery electric vehicles were available as of April 2022.
In this article we will cover the performance of three ASX-listed EV stocks in 2022. These companies include Novonix Limited, Magnis Energy Technology Limited and Ampol Limited.
Image Source: © 2022 Kalkine Media ®
Data Source- ASX
Novonix Limited
Novonix (ASX:NVX) manufactures and supplies components, tools, and services for lithium-ion batteries. The company works under three segments which include exploration and mining for graphite, battery technology, and battery materials.
At 3.13 PM AEST, shares of Novonix were trading 8.97% higher at AU$2.43 each. However, Novonix’s shares have fallen around 77% on a YTD basis and a little over 6% on a yearly basis.
Ampol Limited
Ampol Limited (ASX:ALD) purchases, refines, distributes, and markets petroleum products in different countries, including Australia, New Zealand, the US and Singapore.
Ampol's shares were spotted trading at AU$32.74 apiece today (21 July 2022), down 0.49% at 3.16 PM AEST on ASX. However, the company's shares have recorded a positive growth of around 9% YTD and 16% in the last one year.
Image Source: © Ilynxv | Megapixl.com
Magnis Energy Technology Limited
Magnis Energy Technology Limited (ASX:MNS) is an Australian company which makes lithium-ion battery cells. Magnis Energy works in three areas: battery technology, gigafactories, and graphite.
On Thursday (21 July 2022), shares of Magnis were trading at AU$0.35 per share, up 14.75% on ASX at 3.19 PM AEST. However, Magnis' shares declined 38.60% on a YTD basis and increased 29.63% in the last one year.
