12 Cheap EV Stocks to Buy According to Hedge Funds

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

Forward P/E: 4.94

Number of Hedge Fund Holders: 32

Stellantis N.V. (NYSE:STLA) is a leading global automaker that ranks among the top cheap EV stocks to invest in. The company offers a wide range of vehicles through its portfolio of brands that include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, and Vauxhall. The company operates in over 30 countries and serves customers across 130 markets. Stellantis N.V. (NYSE:STLA) offers a variety of EVs, including battery EVs and hydrogen fuel cell vehicles. Through its “Dare Forward 2030” plan, Stellantis N.V. (NYSE:STLA) aims to launch more than 75 battery EV models by 2030.

The company is strategically partnering with AI specialists to maintain a competitive edge while also enhancing vehicle design, manufacturing and customer experiences. In collaboration with Mistral AI, Stellantis N.V. (NYSE:STLA) is integrating advanced AI tools into various operations, including vehicle engineering, fleet data analysis, and car sales. In February 2025, through its partnership with Mistral AI, it launched an innovative in-car assistant that uses voice-activated technology to provide real-time, conversational support for drivers through natural language interactions. These efforts are part of Stellantis N.V.’s (NYSE:STLA) strategy to adopt new advancements in AI to deliver smarter, more responsive vehicles.

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