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EV ETFs To Benefit from the Infrastructure Bill

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Last week, President Biden signed an executive order calling on electric, fuel-cell and plug-in hybrids sales to account for 50% of all car and light truck sales by 2030. Transport accounts for about 29% of greenhouse-gas emissions in the US and therefore EVs are a key part of Biden’s climate agenda.

EVs currently account for only about 3% of sales, per WSJ, and auto makers say they would  need billions of dollars in funding for a network of EV charging stations and tax incentives to consumers, among other measures, in order to meet the sales target.

The current $1 trillion bipartisan infrastructure bill has $7.5 billion in EV charging infrastructure funding. Major auto makers are already making big investments in developing EVs and batteries.

Even though EV sales are a very small part of the overall market, they have been increasing at a much faster pace. Sales of plug-in vehicles more than doubled in the first half of 2021 compared with last year, per WSJ. Many analysts expect this trend to continue as battery costs continue to rapidly decline.

Please watch the short video above to learn about Global X Autonomous & Electric Vehicles ETF (DRIV), iShares Self-Driving EV and Tech ETF (IDRV - Free Report) and KraneShares Electric Vehicles & Future Mobility Index ETF (KARS - Free Report) .

Tesla, (TSLA - Free Report) , NVIDIA (NVDA), Google-Alphabet (GOOG), Apple (AAPL - Free Report) and AMD (AMD - Free Report) are among the top holdings in these ETFs.

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