5 EV Stocks that Will Benefit from Climate Change Bill 2022

4. Stellantis N.V. (NYSE:STLA)

Number of Hedge Fund Holders: 29

Stellantis N.V. (NYSE:STLA) is a Dutch automobile company with 14 brands in its portfolio.

By 2030, Stellantis N.V. (NYSE:STLA) intends to reach 100% of its revenue in Europe and 50% of its revenue in the US through EV sales. Furthermore, the company intends to introduce 75 EV models by the start of 2023. Stellantis N.V. (NYSE:STLA) aims to achieve yearly sales of five million units by the end of this decade.

The Climate Bill includes a $2 billion package to aid automakers in converting their existing facilities to produce EVs. Furthermore, the automakers can get a loan of as much as $20 billion to construct new EV manufacturing facilities in the US. Stellantis N.V. (NYSE:STLA) can be expected to benefit from the conversion portion of the bill as the company is heading into a contract renewing year with the United Auto Workers (UAW) union.

Of the 912 hedge funds in Insider Monkey’s database, 29 funds held a stake in Stellantis N.V. (NYSE:STLA) as of Q1 2022.