Getty Images Cars charge up on a London street.As Yogi Berra might have put it: Nobody buys Tesla stock anymore. It’s too popular. Yet the hunt continues for promising bets on rising demand for electric vehicles, and battery-materials company Umicore UMI, -0.22% could fit the bill. “There are very few EV champions—companies that have a meaningful percentage of their profits today coming from the electrification megatrend,” says Adam Collins, an analyst at investment firm Liberum covering specialty chemicals and new energy technologies. “We, in our notes, have been talking about possibly four: Albemarle, the lithium leader; Tesla, I don’t have to introduce them; Infineon Technologies, in the power semiconductors space; and Umicore, in cathode materials.” What makes Umicore special, Collins reckons, is that it generates about 10% of its earnings from EV-related business, while the corresponding figures for U.S. chemicals giant Albemarle ALB, +0.31% and German chip maker InfineonIFX, -2.39% are lower, and Tesla TSLA, -1.31% hasn’t turned a profit yet. About 60% of Umicore’s profit could come from EVs by 2020, Liberum estimates. “It’s shaping up to be by far and away the market leader in the key performance driver for the battery—in a market that we think is set to grow something like 20 times by 2025,” Collins says.via