One EV-related exchange-traded fund had its best week in nearly a year, and did even better in January — rising 20.66%. According to a CNBC analysis, the Global X Lithium & Battery Tech ETF was up nearly 8% last week — its best week since March 2022. It also marked the fund’s fourth straight weekly gain. This is a turnaround from the nearly 30% loss in 2022. EV makers in the ETF, such as Tesla, BYD and Lucid, led the gains this year, with jumps of 40%, 27% and 71%, respectively, in January. Lithium and EV battery producers like Albemarle and CATL also fared well, rising 30% and 18%, respectively. Lithium is an important component of electric vehicle batteries. Automakers have been in the spotlight this month, with Tesla slashing prices to boost demand and Ford following suit. Analysts say Tesla’s price cuts could spark an EV pricing war. Using FactSet, CNBC Pro examined the Global X Lithium & Battery Tech ETF for stocks that analysts say have the potential to rise by at least 10%, on average, and the stocks covering them. Over 40% have buy ratings from analysts. These 10 stocks seen on screen EV makers Rivian, Lucid and Tesla made the list. According to FactSet, analysts give all three significant potential upside. According to analysts, Rivian’s shares see an average gain of 100% over the next 12 months, while Tesla has a potential gain of 13% and Lucid is 18%. Shares of Lucid have already jumped more than 70% so far this year. It soared 43% on Friday alone amid market speculation that Saudi’s Public Investment Fund is looking to buy the company. In a January 30 note, Bank of America said Lucid is “the most attractive and also a relative competitive threat in a universe of start-up electric vehicle (EV) automakers.” The bank’s analysts said, “We believe LCID currently has more pieces to the puzzle than most of its peers and is in the process, driven by a management team with impressive experience, to more successfully take the company from concept to commercialization.” should be carried forward.” Analysts are also bullish on Warren Buffett-backed Chinese EV maker BYD, giving it a potential upside of 36%. More than 75% have a buy rating on the stock, which has already climbed 27% in January. Battery makers Freire and Enovix Corporation stood out for the biggest potential increases, at 108% and 285%, respectively. Both are also popular among analysts, with Enovix being the only company on the list with a 100% buy rating from analysts. Goldman said in a recent note that the US-listed fryer has the biggest upside potential among EV-related stocks after the company announced plans to expand in the US — CNBC’s Michael Bloom contributed to this report.