The International Energy Agency said 2022 is “expected to see another all-time high for electric vehicle sales, lifting them to 13% of total light duty vehicle sales globally,” as quoted on CNBC. Previously, the IEA said global sales had doubled in 2021 to represent nearly 9% of the car market. Both EVs and lighting are “fully on track for their 2030 milestones” in its net-zero by 2050 scenario.
The IEA has previously specified that electric vehicle sales hit 6.6 million in 2021. In the first quarter of 2022, EV sales came to 2 million, a 75% increase compared to the first three months of 2021. With automation and technological breakthrough emerging rapidly, fast pickup in electric vehicles is in the cards.
In an announcement accompanying its Tracking Clean Energy Progress update, the IEA said there had been “encouraging signs of progress across a number of sectors” but cautioned that “stronger efforts” were required to put the world “on track to reach net zero emissions” by the middle of this century, as quoted on CNBC.
There has been a global drive on auto manufacturers to cut CO2 emission. The very move to bolster clean energy has led to auto manufacturers’ shift from ICE to EV. Europe and China have apparently been leading the way in CO2 emission, thus promoting EV sales.
Per Deloitte, China will hold 49% of the global EV market by 2030, Europe will account for 27%, and the United States will take about 14% share. Deloitte also forecast that China will achieve a domestic market share of about 48% by 2030, while the United States will have it at 27% and Europe is expected to hold 42% share.
Climate provisions in the Inflation Reduction Act put the United States back on track toward significant emissions reductions, potentially lowering greenhouse gas emission by 40% of 2005 levels. The Biden administration, for instance, looks to cut the sale of gas-powered vehicles to 50% of all new purchases by 2030 (read: Lithium ETFs Set to Surge on Rising EV Demand).
Growing investments in the sector, ranging from batteries to charging cars, will see companies spinning off units as well as go public, said Patrick Steinemann, co-head of Global Mobility Group Investment Banking at Bank of America, a Bloomberg article noted earlier in the year. The global Electric Vehicle Market size is projected to grow from 8,151 thousand units in 2022 to 39,208 thousand units by 2030, at a CAGR of 21.7%, per a report from Marketsandmarkets.
The United States EV market is almost being supported by Tesla alone with catering to almost half of all EV sales. Tesla now has plans for a sales boost in Germany. Electric vehicle maker Fisker Inc FSR plans to start selling its Ocean electric sport-utility vehicle (SUV) in India from July 2023. The CEO of the company expects EV sales in India to gain momentum by 2025 – 2026.
Needless to say, the enthusiasm in the EV space has prompted ETF issuers to come up with EV and battery-related funds. In the past two years, there was a surge in the launches of these ETFs, with which investors can tap this accelerating industry.
Global X Autonomous & Electric Vehicles ETF DRIV
The underlying Solactive Autonomous & Electric Vehicles Index tracks the price movements in shares of companies which are active in the electric vehicles and autonomous driving segments. Tesla (3.56%), Apple (3.07%) and Microsoft (2.794%) are the top three stocks. United States takes the top spot in the 75-stock fund with about 56% exposure. The $917 million-fund charges 68 bps in fees.
SPDR S&P Kensho Smart Mobility ETF HAIL
The underlying S&P Kensho Smart Transportation Index is comprised of U.S.-listed equity securities of companies domiciled across developed and emerging markets worldwide which are included in the Smart Transportation sector. Plug Power (2.03%), Innoviz Technologies (1.93%) and Tesla (1.88%) round out the top three positions. The $73.6 million-fund charges 45 bps in fees.
iShares Self-Driving EV and Tech ETF IDRV
The underlying NYSE FactSet Global Autonomous Driving and Electric Vehicle Index comprises of developed and emerging market companies that may benefit from growth and innovation in and around electric vehicles, battery technologies and autonomous driving technologies. Tesla (5.63%), Apple (4.79%) and Qualcomm (4.0%) are the top three stocks of the fund. United States makes up about 52% of the fund. The $430.4 million-fund charges 47 bps in fees.
KraneShares Electric Vehicles And Future Mobility ETF KARS
The underlying Bloomberg Electric Vehicles Index tracks the equity market performance of companies engaged in the production of electric vehicles or their components or engaged in other initiatives that may change the future of mobility. Tesla (4.30%), Samsung (4.18%) and Albemarle (4.15%) are the top three holdings of the fund. The $240.5-million fund charges 70 bps in fees.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Global X Autonomous & Electric Vehicles ETF (DRIV): ETF Research Reports Fisker Inc. (FSR) : Free Stock Analysis Report KraneShares Electric Vehicles and Future Mobility Index ETF (KARS): ETF Research Reports iShares SelfDriving EV and Tech ETF (IDRV): ETF Research Reports SPDR S&P Kensho Smart Mobility ETF (HAIL): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research
Here are the markets that will be open on Columbus Day, also recognized as Indigenous Peoples' Day, on Monday, Oct. 10.
The year 2022 has been a painful journey for semiconductor manufacturers. Following the example of AMD , Nvidia and Intel , which are the three main players in the sector, 2022 is a year to forget .Their valuations are in recession. Advanced Micro Devices (AMD) currently has a market value of $94.4 billion, which is a decrease of at least $83 billion compared to December 31, 2021.
Everyone knows that you should buy low and sell high if you want to turn a profit in the markets. The trick is finding the bottom, to know when to buy. Jim Cramer, the well-known host of CNBC’s ‘Mad Money’ program, sees the market bottom hitting in the next couple of weeks, making the end of October the right time for investors to buy in. Referring to some recent predictions by market technician Larry Williams, Cramer says, “The bear market is more or less… toast and, even if the current rally s
Tesla stock is forming a bearish head-and-shoulders pattern. And with CEO Elon Musk likely selling more stock to fund his Twitter purchase, shares of the electric-vehicle giant might have further to fall.
The veteran telecom company is having a stellar year in many respects, but reason for concern has emerged.
A market rally attempt is reeling as the indexes plunged on Friday's jobs report. Tesla, AMD and On Semi sold off.
PayPal is in trouble. "You are independently responsible for complying with all applicable laws in all of your actions related to your use of PayPal's services, regardless of the purpose of the use," the document, called "Acceptable Use of Policy," said.
This indicator has correctly predicted five steep stock market declines since 1870 -- and it's highly successful at calling bottoms, too!
“The Fed will have no choice but to reliquefy the system,'' an event that is likely to happen by the end of the World Series, Minerd writes on Thursday.
For the retail investor, the only certainty of our current market environment is uncertainty. Volatility is up, and the main indexes are showing deepening losses. As if that wasn't enough, at least one market bull is turning a bit more pessimistic. JPMorgan strategist Marko Kolanovic has been one of the more bullish voices on Wall Street in recent months, but current conditions have him pushing the timeline back. While he still believes that the S&P 500 can hit 4,800, or a 32% gain from current
You would think this would be TIPS’ time to shine. Instead, the prices of Treasury inflation-protected securities—government bonds that are adjusted to keep up with inflation—have declined this year, even as inflation has soared. The comparable loss for ICE’s index of regular Treasury bonds was 13.5%.
Luckily for everyday investors like us, institutions that trade stocks need to disclose their transactions to the Securities and Exchange Commission every three months. Ray Dalio's hedge fund, Bridgewater Associates, made a relatively large bet on CVS Health (NYSE: CVS) stock in the second quarter. It's CVS' less visible business segments that have allowed it to more than triple its dividend payout over the past decade.
Investing in Warren Buffett's biggest holdings can be a winning tactic, but don't overlook the companies that occupy smaller positions in Berkshire Hathaway's portfolio.
If you buy one between now and the end of October, you’ll earn a composite interest rate of 9.62%.
NIO Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $NIO performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
Most S&P 500 investors consider Tesla stock to be the ultimate investment. But it turns out you could do better — much better.
The 30 components of the Dow Jones Industrial Average (DJIA) tend to be industry-leading companies that are meant to provide a representation of the broader economy. Honeywell (NASDAQ: HON), Intel (NASDAQ: INTC), and Chevron (NYSE: CVX) stand out as three reliable Dow stocks to buy in October and hold for decades.
In this article, we discuss the 10 best EV battery stocks to buy in late 2022. If you want to see more stocks in this selection, check out the 5 Best EV Battery Stocks to Buy in Late 2022. The share of EV sales has taken up more than 5% of the total new automobile […]
"Yes there's stress, yes it's going to get worse, and yes there's going to be failure,” is the frank assessment of the state of the financial sector from Keith Skeoch, a City grandee and former chief executive of investment giant Standard Life Aberdeen.
Wall Street tends to give stock splits more weight than they should have. Annaly's reverse split, however, might be a genuine warning sign.