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Honda and Sony Enter Electric Vehicle Joint Venture

·2 min read

This article was originally published on ETFTrends.com.

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

It’s one more feather in the cap of the EV transition as both newer EV-focused companies, and traditional internal combustion engine companies continue to make their debuts in the space, and for good reason. The International Energy Agency reported that in the first quarter of 2022, over 2 million electric cars were sold globally, a three-quarter increase from the same period in 2021.

Honda has been slow to begin offering electric options for its customers, with only one EV currently on the market, but it plans to release 30 new EV models by 2030 and manufacture 2 million EVs each year by then. Honda has previously partnered with General Motors to make low-cost EV options that will see two new electric SUV models rolling out in 2024.

The KraneShares Electric Vehicles and Future Mobility ETF (NYSE: KARS) offers a good solution for investors looking to capture the potential growth of major EV producers globally.

KARS invests in many familiar car companies such as GM, Tesla, Ford, Mercedes-Benz, BMW, and major Chinese EV manufacturers such as Xpeng, Nio, and BYD, some of the biggest companies in the global electric vehicle industry.

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

The index has strict qualification criteria. Companies must be part of the Bloomberg World Equity Aggregate Index, have a minimum free-float market cap 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, information, and strategy, visit the Climate Insights Channel.

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