3 Electric Vehicle ETFs To Accelerate Your Profits In 2021

NYSE: LIT | Global X Lithium & Battery Tech ETF News, Ratings, and Charts

As climate change becomes a major concern, governments across the globe are accelerating a shift in their economies toward carbon-neutral energy sources. Many countries have already set stringent carbon-emission norms, increasing the demand for electric vehicles (EVs). Incentives and subsidies offered by the governments for buying EVs are also adding to the demand. Moreover, people are gradually shifting to EVs for better efficiency and lower recurring costs.

While the pandemic-induced lockdown brought economic activities to a stand-still, it is expected that the sale of plug-in electric light vehicles (PEV) will grow 6% to 2.3 million units in 2020. The electric vehicle battery market is expected to grow to almost 94 billion US dollars worldwide by 2026.

The electric vehicle momentum is likely to continue as Joe Biden enters the White House, as the President-elect has ambitious plans to achieve net-zero carbon emissions by 2050. Here are three ETFs well-positioned to significantly gain amid the EV revolution: Global X Lithium & Battery Tech ETF (LIT - Get Rating), Global X Autonomous & Electric Vehicles ETF (DRIV - Get Rating), and SPDR S&P Kensho Smart Mobility ETF (HAIL - Get Rating).

Global X Lithium & Battery Tech ETF (LIT - Get Rating)

Lithium is used in the battery cells that power EVs.  LIT, managed by Global X Management Company LLC, focuses on stocks of companies operating across materials, metals and mining, diversified metals and mining, diversified metal ores sectors. The Fund tracks the performance of the Solactive Global Lithium Index, by using the full replication technique. The index measures the broad-based equity market performance of global companies involved in the lithium industry. LIT invests at least 80% of its total assets in the securities of the index. The top 3 holdings of the ETF are Albemarle Corp (ALB), BYD Co Ltd Class H, and Ganfeng Lithium Co Ltd with weights of 12.2%, 5.4%, and 5.3%, respectively.

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