Goldman Sachs EV and Battery Stocks: Top 5 Stock Picks

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

Goldman Sachs’ Stake Value: $557,431,375

Number of Hedge Fund Holders: 27

Stellantis N.V. (NYSE:STLA) is a Netherlands-based auto manufacturer. On July 5, Stellantis N.V. (NYSE:STLA) introduced its global EV platform, starting with the STLA Medium, one of four planned platforms. This platform is designed for electric cars, crossovers, and SUVs. The STLA Medium 400V architecture enables quick charging from 20% to 80% in 27 minutes. Vehicles using this platform will have front-wheel and all-wheel drive options, with power output spanning from 160 kW to 285 kW. Stellantis N.V. (NYSE:STLA) is one of the top Goldman Sachs EV and battery stocks. In the second quarter of 2023, Goldman Sachs held 31.78 million shares of Stellantis N.V. (NYSE:STLA) worth $557.4 million. 

On August 23, Stellantis N.V. (NYSE:STLA) announced that it is exploring the option of forming a partnership with a Chinese electric vehicle manufacturer to enhance its footprint in China, the biggest EV market. Stellantis N.V. (NYSE:STLA) has been considering potential collaborations with Chinese electric vehicle companies, including Zhejiang Leapmotor Technologies Ltd. 

According to Insider Monkey’s second quarter database, 27 hedge funds were bullish on Stellantis N.V. (NYSE:STLA), with collective stakes worth just over $468 million. Karthik Sarma’s SRS Investment Management is the largest stakeholder of the company, with 8.4 million shares worth $148.5 million.  

Miller Value Partners Income Strategy made the following comment about Stellantis N.V. (NYSE:STLA) in its second quarter 2023 investor letter:

“We initiated a starter position in Stellantis N.V. (NYSE:STLA), which makes Jeep, Dodge and Fiat cars. The company has a nearly 8% dividend yield with enough net cash (cash minus debt) on the balance sheet to cover the dividend for almost five years. The company trades at 1.7x operating profits, which means the market is already expecting a likely drop in cash flow. Still, the shares appear to be worth meaningfully more than where they trade, and management is heavily aligned with stockholders with a 14% stake. They share our view that the valuation is compelling, as the company plans on repurchasing ~3% of shares outstanding this year.”