NVX, ALD, MNS: How did these 3 ASX EV stocks fare today?

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NVX, ALD, MNS: How did these 3 ASX EV stocks fare today?

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Novonix Limited (ASX:NVX) shares
Image source: © Juliengrondin | Megapixl.com

Highlights

  • Sales of electric cars doubled in 2021 touching a new high of 6.6 million, with more cars sold each week than in all of 2012.
  • Despite supply chain challenges, sales of electric cars continued to rise significantly in 2022.
  • EV stocks like Novonix provided significant growth to its shareholders in the last one year.

Electric vehicles (EVs) have been at the forefront of the automobile industry's efforts to become more environmentally friendly.

According to the latest annual Global Electric Vehicle Outlook report, sales of electric cars, including completely electric and plug-in hybrids, doubled in 2021 to a new high of 6.6 million, with more cars sold each week than in all of 2012.

Despite supply chain challenges, sales continued to rise significantly in 2022, with two million electric cars sold globally in the first quarter. By the end of 2021, around 16.5 million electric automobiles were on the road worldwide, more than quadrupling the number in 2018.

Meanwhile, electric car sales in China nearly tripled to 3.3 million in 2021, accounting for roughly half of the global total. Sales in Europe (up 65% to 2.3 million) and the United States also increased significantly (more than doubling to 630K).

Also Read: Liontown (ASX:LTR) seals a deal with major EV battery supplier

In the immediate term, the most significant impediments to ongoing robust EV sales include rising prices for several important minerals needed in battery manufacturing and supply chain bottlenecks caused by Russia's war on Ukraine and continued Covid-19 lockdowns in some parts of China. In the longer term, more effort is needed to provide enough charging infrastructure to support the predicted surge in electric vehicle sales, according to the analysis.

Lithium costs, a critical material for car batteries, were over seven times higher in May 2022 than at the start of 2021. If prices maintain current levels, the cost of battery packs might rise by 15%, reversing several years of declines. Because Russia contributes 20% of worldwide battery-grade nickel, the invasion of Ukraine has increased demands for the precious metal.

ASX 200 Index closed at 7,155.20 points, up 0.37% today and ASX 200 Materials Index ended 0.59% higher at 17,504.80 points.

On this note, let's look at the performance of these three ASX-listed EV companies - Novonix Limited, Magnis Energy Technology Limited and Ampol Limited.

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Data Source- ASX

Novonix Limited (ASX:NVX)

Novonix Limited is a North American manufacturer and distributor of lithium-ion battery materials, equipment, and services. Its three segments are graphite exploration and mining, battery technology, and battery materials.

Shares of Novonix closed in red today and traded 3.83% lower at AU$3.77 apiece on ASX today. The company has provided a negative YTD return of around 59% to its shareholders. However, its shares have jumped almost 70% in the last one year.

Ampol Limited (ASX:ALD)

Ampol Limited purchases, refines, distributes, and markets petroleum products in Singapore, Australia, New Zealand, and the US.

Ampol's shares last exchanged hands at AU$33.58 apiece today, up 0.39% from its previous close. The company's shares have grown around 13% YTD, and it has provided 15% returns to its shareholders in last one year.

Source: © Masezdromaderi | Megapixl.com

Magnis Energy Technology Limited (ASX:MNS)

Magnis is an Australian company that produces lithium-ion battery cells. It is primarily concerned with three areas: battery technology, gigafactories, and graphite.

Magnis' shares ended 2.56% lower today at AU$0.38 per share. The company's shares have fallen around 34% YTD.

Also Read: Tesla, KIA, Hyundai, Nissan: 4 EV stocks Kiwis can look forward to in 2022

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