Electric vehicles were one of the top performing sectors in 2020, and despite the recent growth sector correction, the industry is prime to be a disruptive force for the foreseeable future. There was a major shift in focus for the automotive industry led by perhaps the most disruptive company we have seen in decades: Tesla (NASDAQ:TSLA).
The company, led by Elon Musk, has been relentless in pushing the electric car and sustainable energy for years now, but only recently has the rhetoric in the global auto industry followed suit. China remains perhaps the greatest threat to Tesla, with major brands like Nio (NYSE:NIO), XPeng (NYSE:XPEV), and Li Auto (NASDAQ:LI) all establishing themselves as forces to be reckoned with in the largest automobile market in the world.
But as with most industries, there is an oversaturation near the top. There is a trickle-down effect that helps smaller companies become the pick and shovel brands for the top dogs. You don’t have to be an electric vehicle maker to take advantage and profit off of the trend. With electric cars comes the necessity for scalable infrastructure which includes repair centers, charging stations, and of course, batteries.
The electric vehicles segment is big and is not only about luxury sedans — there is a lot more
Much to the surprise of many, not every company wishes to make a luxury sedan either. There are plenty of companies that are in the electric vehicle business for things like busses, long-haul delivery semis, and smaller vehicles like golf carts, forklifts, and food delivery mobiles. Vancouver-based EV Battery Technologies Corp (CSE:ACDC) finds itself at the crossroads of electric vehicle batteries and state of the art charging technology.
EV Battery Tech has also simultaneously launched two new technologies which include the brand new IoniX Pro Smart Charger, which will not only charge electric vehicles in less than 25 minutes, but will act as a store of power as well. But this isn’t just any power storage unit. The IoniX Pro will utilize machine learning and artificial intelligence to learn power management and peak charging times throughout the day in order to become more efficient.
The company also released its RV battery called the IoniX RV Freedom battery, which doubles as a portable power supply source when you are out in the wilderness. Other projects on the go for EV Battery Tech include the IoniX Pro TITAN Energy Core and a proposed Smart Wall that will introduce power storage within homes and buildings.
At this point, you may be thinking that EV Battery Tech is just another trendy penny stock play on the trendiest industry, but the stock is receiving legitimate coverage including being added to the HAN-GINS Tech Megatrend Equal Weight ETF (LSE:ITEK). This fund includes other names you may have heard of including Vancouver-based Blockchain and Bitcoin miner Hive Blockchain (TSXV:HIVE), Tesla, Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), and Apple (NASDAQ:AAPL).
The stock has already returned nearly 3,000% to investors over the past 52 weeks, and is poised to have a breakout year with multiple different industry tailwinds and projects in the works which the company estimates will provide total revenues of over $300 million over the next two years.