Electric vehicle stocks are getting a boost thanks to a Biden executive order and the new infrastructure bill.
Last week, President Biden signed an executive order which set a target for sustainable vehicle sales. The order intends to push plug-in hybrids, hydrogen, and electric vehicle sales to 50% of annual US vehicle sales by 2030. Today, the Senate finally signed its bipartisan infrastructure bill earmarking billions for EV charging stations.
It’s not over ’til it’s over, especially since the infrastructure bill faces challenges, changes, and delays in the House. Investors, however, are assured that this is a value-add for the EV industry; a number of EV-related names rose on the news. Lightning eMotors (+80.6%) and Fisker (+21.5%) were among the rising trendy names on Stocktwits. Stocks interfacing with the lithium/battery industry, like Lithium Americas (+11.1%), also rose in sympathy with the news.
Days before the news, the New York State Common Retirement Fund (the third-largest US public pension fund) bought shares in a number of EV companies, among others. 
