Honda and Sony create electric vehicle joint venture

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JThe siren call of the electric vehicle market continues to grow stronger as Sony and Honda announce an equally owned joint venture to begin selling electric vehicles by 2025, reported Reuters.

It’s one more feather in the ceiling of the EV transition as new EV-focused companies and traditional internal combustion engine companies continue to debut in the space, and for good raison. The International Energy Agency reported that in the first quarter of 2022, more than 2 million electric cars were sold worldwide, an increase of three quarters compared to the same period in 2021.

Honda has been slow to bring electric options to its customers, with only one EV currently on the market, but it plans to launch 30 new EV models by 2030 and manufacture 2 million EVs each year by then. . Honda has already partnered with General Motors to offer low-cost electric vehicle options that will see the rollout of two new electric SUV models in 2024.

The KraneShares Electric Vehicles and Future Mobility ETF (NYSE: KARS) offers a good solution for investors looking to capture the growth potential of the world’s leading producers of electric vehicles.

KARS invests in many well-known automotive companies such as GM, Tesla, Ford, Mercedes-Benz, BMW and major Chinese EV manufacturers such as Xpeng, Nio and BYD, some of the largest companies in the global EV industry .

KARS measures the performance of the Bloomberg Electric Vehicle Index, which tracks the industry broadly, including exposure to electric vehicle manufacturers, electric vehicle components, batteries, hydrogen fuel cells and raw materials used in the synthesis of the production of parts for electric vehicles.

The index has strict qualification criteria. Companies must be included in the Bloomberg World Equity Aggregate Index, have a minimum free-float market capitalization of $500 million, and have a 90-day average daily traded value of $5 million.

The ETF has an expense ratio of 0.70%.

For more news, insights and strategy, visit the Climate News Channel.

Learn more at ETFtrends.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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