When Needham analyst Michael Lew initiated coverage of lithium battery maker Ener1 earlier this year, the company was becoming increasingly present in China, the world's number one vehicle market, and ramping up production to help Norwegian electric vehicle producer THINK fulfill a backlog of orders for more than 2,000 electric vehicles. Lew said he significant opportunity in the company.
NEW YORK ( TheStreet) -- In 2010, Ener1 ( HEV), A123 ( AONE) and Advanced Battery Technologies ( ABAT) exhibited lackluster performance for a variety of reasons, ranging from delays in customer orders to share dilution from capital injection.
"The lithium battery business could become very large depending on the market's acceptance of electric cars and hybrids, how quickly battery costs can be lowered and the extent of government subsidies," Wunderlich analyst Theo O'Neill says. Case in point, General Motors ( GM) has now raised its planned production rate of plug-in hybrid electric Chevrolet Volts to 60,000 a year by 2012, from the initial planned production rate of 30,000 a year, according to D.A. Davidson analyst Avinash Kant, who cites industry sources in an equity research report. General Electric ( GE) recently announced that it will buy 25,000 electric vehicles by 2015, almost half of them from GM, including the 2011 Chevy Volt. In light of this background, which of the lithium battery stocks mentioned do you think is most likely to stage a turnaround in 2011? Take our poll below to learn the consensus of TheStreet.