Freeport McMoran, Southern Copper, Antofagasta, and
First Quantum all produce large quantities of copper.
Many smaller miners have popped up over the past decade that have solely targeted the metals needed to fuel the growth in electric vehicles, but larger multi-commodity miners have the diversity needed to offset any weakness in a particular market.
Companies that provide other materials needed to produce cars, electric or not, such as carbon fibre, aluminium, plastics and steel will also be well placed to benefit from any growth in the vehicle market.
Electric vehicle component stocks
Another way to approach the market is to consider the picks-and-shovel plays. These are stocks that provide vital components to the industry, meaning they benefit regardless of who wins the race to dominate the electric car market. In this case, that includes companies that provide parts that are needed by all types of cars.
Author Bio
Travis Hoium has been writing for fool.com since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things. Follow @TravisHoium
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