EV Penny Stocks List: From $10 to Under $1

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

Number of Hedge Fund Holders: 32

Share Price as of April 16 2025: $9.36

Stellantis N.V. (NYSE:STLA) is an auto manufacturer that designs, manufactures, distributes, and sells automobiles, light commercial vehicles, engines, and transmission systems. The company has already reiterated plans to electrify its vehicle lineup, aiming for 100% battery-electric vehicle sales in Europe and 50% sales in the US by 2030. Consequently, it has committed €50 billion in electrification and launched over 75 BEV models.

Stellantis N.V. (NYSE:STLA) has lost about 50% of its value over the past year but is working on a plan to recover and grow in the EV market. Part of the plan entails exploring powertrain opportunities and the reenter segment that previously existed. The company also plans to invest over $5 billion to expand its manufacturing presence in the US.

Stellantis N.V. (NYSE:STLA) is also in the process of cutting its US inventory, which has skyrocketed to 100,000 vehicles. By cutting its bloated inventory, Stellantis should relieve pressure on dealerships needing to offer huge discounts. Likewise, it is a solid investment play for income-focused investors as the company rewards investors with an 8.02% dividend yield.