Global X Funds, a New York sponsor of exchange-traded funds (ETFs), has announced the listing of an ETF that holds a basket of companies involved in the production or development of electric and autonomous vehicles.
Designed to track the Solactive Autonomous & Electric Vehicles Index, the Global X Autonomous & Electric Vehicles ETF (Nasdaq: DRIV) includes companies involved in developing autonomous vehicle software and hardware.
“Electric and autonomous vehicles are poised to have one of the most profound impacts on society since the industrial revolution, affecting a wide range of sectors in ways that we’ve only just begun to imagine,” said Jay Jacobs, director of research at Global X Funds.
“In bringing DRIV to market, we’re excited to deliver access to revolutionary shifts in transportation that are at the early stages of their disruptive potential. And we’re equally excited to watch how these technologies will change our daily lives.”
As well as companies involved in autonomous vehicles, the ETF will hold companies producing electric vehicles (EVs), components such as lithium batteries for EVs, and materials required for EVs such as lithium and cobalt.