There’s no question that the push towards electric vehicles (EVs) is in full gear. It’s not just the proliferation of advertising for EVs. Almost every major automaker is making plans to wean their production away from vehicles with internal combustion engines (ICEs). But before you consider picking up more shares of Tesla (NASDAQ:TSLA), it might be to your benefit to consider investing in one or more battery stocks.  

That’s because the reality of EV adoption is turning out to be a little trickier than the rosy projections. Widespread EV adoption is possible, perhaps even likely. However, there’s always been a chicken-or-egg debate about what event would drive EV stock prices: EV production or EV infrastructure to promote that production at scale.  

For now, it appears that the debate is landing squarely on the side of companies involved in the EV infrastructure. That includes battery makers.  

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In this article, we look at three battery stocks that are trading at low prices today but have the chance for significant price movement. This is still an emerging sector, so be sure to do your due diligence before taking a position in these stocks.  

Panasonic (PCRFY) 

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I’ve had the opportunity to write about battery stocks at a couple of different points this year. Panasonic (OTCMKTS:PCRFY) stock has made the list both times, and it does so again. The simple proposition is that Panasonic is one of the leading battery suppliers to Tesla. Not just that, the company is one of the company’s most trusted suppliers. 

Critics will cite the fact that Panasonic is not only a significant supplier for Tesla, but Tesla is its only significant client in terms of revenue. But the company is using its first-mover advantage well. In the first place, it’s expanding its production footprint including within the United States. This will allow it to take advantage from incentives in the Inflation Reduction Act.  

Also, not only is the company taking steps to improve the design of its lithium-ion battery, but it also has multiple patents for a solid-state battery design that could break the lithium-ion battery’s stronghold on the EV sector.  

BYD Company (BYDDF) 

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BYD Company (OTCMKTS:BYDDF) is next up on this list of battery stocks. BYD is a Chinese company, but it’s rapidly becoming one of the leading EV manufacturers in the world. In fact, in the last quarter, the company’s production was nearly on par with Tesla.  

The difference is that BYD manufactures its own batteries, and it’s not just any battery. It’s a battery that has advantages over lithium-ion batteries.