Ford Motor (F)
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Ford Motor (NYSE:F) achieved record-breaking sales in April with a 60% increase in hybrid car sales, following an 86% growth in the first quarter. With a target of producing 2 million units by 2026, Ford has invested over $50 billion in its electric vehicle (EV) initiatives under a Ford+ strategy, emphasizing EVs.
Ford is transforming its Ontario Oakville Assembly Plant into an electric vehicle production complex, with plans to introduce new three-row electric vehicles by 2027. As part of its Climate Action Plan, the City of Dallas has partnered with Ford Pro to electrify its fleet, aiming for full electrification by 2040.
Debuting the updated 2024 Ranger vehicle in North America, Ford is also showcasing the new Ford Raptor for the 2025 Dakar Rally, equipped with advanced features like GPS, Apple CarPlay, Android Auto, and a 12-speaker Bang & Olufsen sound system.
Riot Platforms (RIOT)
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Riot Platforms’ (NASDAQ:RIOT) net income soared to $211.8 million in the first quarter, a staggering 1,000% increase year-over-year, driven by the surge in Bitcoin’s value. This resulted in a 55.4% rise in mining earnings to $74.6 million.
Despite these gains, Riot Platforms fell short of analyst predictions mainly due to increasing mining difficulty. The company faces challenges post the fourth Bitcoin halving, aiming to achieve a total self-mining hash rate capacity of 31 EH/s by the end of 2024.
Riot Platforms’ strategic infrastructure improvements, including orders for additional miners, are poised to enhance its mining capabilities significantly, with plans to increase output by up to 28 EH/s.
Lithium Americas (LAC, LAAC)
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Lithium Americas (NYSE:LAC) spun off Lithium Americas (Argentina) Corp (NYSE:LAAC), focusing on the Thacker Pass project in Nevada’s Humboldt County. This project aims to become a major lithium carbonate producer, significantly enhancing the U.S. lithium supply chain for electric vehicles.
With funding from various sources, including a substantial credit from the U.S. Department of Energy and support from General Motors, the Thacker Pass project kicked off in early 2023. The construction is scheduled to start in the latter half of 2024, with expected production commencement in 2026.
With promising prospects and strong support, the Thacker Pass project stands out as an enticing opportunity among under $20 stocks, positioning itself as a valuable asset in the EV industry.