"Last year, EVs comprised 23% of global passenger vehicle sales, and are projected to reach 57% by 2035, indicating a significant shift in the automotive industry."
"The EV industry is contracting in the US due to subsidy cuts and a return to an energy independence policy, favoring oil and gas over electric vehicles."
"The Global X Autonomous & Electric Vehicles ETF, launched in April 2018, has gained +22% YTD and +76% in the past year, largely due to its focus on EV infrastructure."
"DRIV's largest holdings include semiconductor company Intel and battery manufacturer Samsung, highlighting the importance of infrastructure in the EV supply chain."
The Electric Vehicle sector has become a significant industrial sector, with EVs comprising 23% of global passenger vehicle sales last year. This figure is expected to rise to 57% by 2035. The industry includes a wide range of components, maintenance services, battery factories, and recharging stations. Regional growth varies, with China and Europe leading, while the US market contracts due to policy changes. The Global X Autonomous & Electric Vehicles ETF has seen substantial gains, driven by investments in EV infrastructure rather than direct manufacturers.
Read at 24/7 Wall St.
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