Electric vehicles aren’t a niche product anymore. They’re hitting the mainstream, asserts Ian Wyatt, growth stock expert and editor of Million Dollar Portfolio.

Tesla (TSLA) has the first-mover advantage, but legacy automakers are spending big to catch up. With all these electric vehicles hitting the streets over the next decade, demand for some materials is going to skyrocket.

Most especially rare-earth metals. They are essential building blocks for much of EV technology. Because all EV motors depend on magnets — as do many other motors, like wind turbines and even drones. And the most efficient way to make those magnets is with rare-earth materials.

That’s why I’m taking advantage of the EV revolution by investing in MP Materials (MP). Until very recently, almost all rare-earth metals came out of China.

This isn’t because China has an abundance of the material. In fact, ironically, rare-earth metals aren’t actually rare at all. But rich concentrated deposits of them are somewhat rare.

They can be found around the world, but until recently, no one bothered mining the stuff. Rare-earth metals weren’t all that useful in a combustion-engine world. That’s changing today.

With the rise EVs — and clean electric motors throughout the economy — rare-earth material is in high demand. MP Materials is far and away the biggest producer of rare-earth metals in the West. Indeed, it’s virtually the only Western company mining rare-earth materials today.

At the moment, MP Materials can satisfy about 15% of the world’s rare-earth demand. But that number is expected to rise — even as demand rises — because MP Materials is about to hit to some very rich veins. That alone makes the company a can’t-miss play, as a supplier for the growing clean-tech industry.

But when you factor in China’s oft-times belligerent stance with other countries — and its propensity to shut off supply as punishment for behavior it doesn’t like — MP Materials suddenly becomes an essential alternative.

So, it shouldn’t be surprising that MP Materials was awarded a contract with the Department of Defense last quarter. The U.S. military needs a U.S. supplier of essential material — and MP Materials is the only viable game in town.

I’m confident in every stock I pick. But rarely am I as confident in a company’s future as I am in MP Materials. It only started trading in mid-November. It has already nearly doubled in value, and that’s only the beginning. Buy MP Materials up to $35 and enjoy what I think will be one of the most popular stocks of 2021.

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