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Highlights
- Britishvolt and Glencore have announced that they would be coming together for developing a new UK battery recycling plant.
- The EV sector has been getting massive investments and is supporting the UK’s transition towards a zero-emission future.
Despite 2021 being a gloomy year for the UK automotive sector, there may be a potential recovery this year, and the primary reason for this optimism is the significant boost in the number of electric vehicles built in the UK. The sector has been getting massive investments and is supporting the UK’s transition towards a zero-emission future.
On 3 February, EV battery startup Britishvolt and mining giant Glencore announced that a new UK battery recycling plant would be developed by them together. The plant would support in reusing costly essential raw materials used in EV manufacturing, such as cobalt and lithium, and it is all set to launch in 2023 at a Glencore operation’s site in Northfleet. A minimum of 10,000 tonnes of lithium-ion batteries would potentially be recycled at the facility every year. However, the information regarding the investment and employment opportunity this project would bring in has’t been disclosed yet.
The pressure on the companies in the EV manufacturing sector has immensely increased as the UK is aiming to prohibit the sale of fossil fuel cars by the next decade or so.
Let’s take a look at 5 FTSE stocks that are a part of the EV space.
RELATED READ: Britishvolt gets UK govt funding: 3 FTSE EV focused stocks to buy
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Glencore plc (LON: GLEN)
Anglo-Swiss commodity trading and mining giant Glencore plc is trying to get into the EV sector by using renewable energy for recycling batteries. The market cap of the FTSE100-listed company stands at £52,664.44 million, and it has provided a return of 61.79% to its shareholders over the past year as of 2 February 2022. Glencore plc’s shares closed at GBX 399.30 on 2 February 2022.
AFC Energy plc (LON: AFC)
AFC Energy plc is a UK-based company that manufactures alkaline fuel cells using hydrogen for the production of electricity. The market cap of the FTSE AIM UK 50 Index constituent stands at £284.25 million, and it has provided a return of -41.27% to its shareholders over the past year as of 2 February 2022. AFC Energy plc’s shares closed at GBX 38.70 on 2 February 2022.
AMTE Power PLC (LON: AMTE)
AMTE Power PLC is engaged in producing lithium-ion and sodium-ion battery cells with the aim to resolve the key issues in power and energy performance. The market cap of the company stands at £44.41 million, and it has provided a return of -13.58% to its shareholders over the past year as of 2 February 2022. AMTE Power plc’s shares closed at GBX 126.00 on 2 February 2022.
RELATED READ: Surge in EV sales in UK: 2 stocks you can buy now for 2022
Johnson Matthey Plc (LON: JMAT)
UK-based chemicals company Johnson Matthey Plc is a speciality sustainable technologies business operating across the globe. The market cap of the company stands at £3,608.80 million, and it has provided a return of -36.59% to its shareholders over the past year as of 2 February 2022. Johnson Matthey plc’s shares closed at GBX 1,899.00 on 2 February 2022.
Saietta Group PLC (LON:SED)
UK-based globally operating motor designer and manufacturer Saietta Group PLC primarily focuses on creating electric drive solutions for EVs. The market cap of the company stands at £184.97 million, and it has provided a return of -15.30% to its shareholders over the past year as of 2 February 2022. Saietta Group plc’s shares closed at GBX 217.50 on 2 February 2022.
