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The electric vehicle (EV) battery market is witnessing substantial growth, fueled by rising EV adoption, technological advancements, and supportive government policies. The market is projected to expand from USD 91.93 billion in 2024 to USD 251.33 billion by 2035, marking a compound annual growth rate (CAGR) of 9.6%. Key innovations include the development of longer-range, faster-charging batteries, such as Honda's solid-state batteries expected to offer up to 620 miles on a single charge. Additionally, strategic investments and partnerships, like the USD 4.2 billion venture between Stellantis and CATL for a lithium iron phosphate battery plant, are enhancing production capacity. The solid-state battery segment, anticipated to grow significantly, promises improved energy density, safety, and charging efficiency, presenting a transformative opportunity for the EV market.

• Stellantis last closed at €11.82 up 2.1%.

• Honda Motor last closed at ¥1,426 down 0.9%.

In other market news, Continental was trading firmly up 6.7% and ending the day at €70.00, near its 52-week high. In the meantime, Tesla softened, down 5.6% to end the day at $263.45.

Stellantis' strategy includes 30 new vehicle launches by 2025 to enhance market position. Explore the full narrative on Stellantis to understand their growth strategy.

Additionally, you might want to revisit our Market Insights article titled "Automakers Caught In The Tariff Crossfire," where we explored the tumultuous conditions facing the auto industry due to tariffs, including the challenges and opportunities for electric vehicle manufacturers amid shifting global dynamics.

Best EV Stocks

• Ford Motor closed at $9.61 down 0.4%.

• NIO finished trading at $4.24 down 2.5%.

Where To Now?

• Click this link to deep-dive into the 55 companies within our EV Stocks screener including Magna International, Bosch and WEG.

• Are these companies part of your investment strategy? Use Simply Wall St to consolidate your holdings into a portfolio and gain insights with our comprehensive analysis tools.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.