Microvast Holdings vs. EnerSys: Which Electric Vehicle Battery Stock is a Better Buy?
Growing interests and investments in electric vehicles (EVs) should drive the performance of the EV battery industry. Therefore, EV battery stocks EnerSys (NYSE:ENS) and Microvast (MVST) should benefit. But which of these stocks is a better buy now?.EnerSys (ENS) and Microvast Holdings, Inc. (MVST) are popular electric vehicle battery manufacturers. ENS manufactures, markets, and distributes industrial batteries and related products like chargers, power equipment, and battery accessories. It also provides related after-market and customer-support services for lead-acid industrial batteries. On the other hand, MVST develops and manufactures lithium-ion battery solutions for electric vehicles and energy storage systems. It also develops battery components, such as cathode, anode, electrolyte, and separator.
In an effort to tackle climate change and carbon emissions, President Biden has included provisions for clean energy in his proposed infrastructure bill. His administration also announced the goal to make up electric vehicle sales to be 50% of total car sales by 2030. This should benefit EV battery stocks ENS and MVST. The global electric vehicle battery market is expected to grow at 6.6% CAGR and reach $82.20 billion by 2027.
While MVST lost 10.3% over the past month, ENS lost 13.6%. But which of these stocks is a better pick now? Let’s find out.
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