According to Defiance sales of EVs are expected to grow very fast.

Defiance, a leading ETF provider, has launched the Defiance Pure EV ETF (EVXX), the first ETF in the electric vehicle (EV) sector to focus solely on EV manufacturers. This ETF aims to provide investors with direct and concentrated exposure to the fastest-growing EV companies, capitalizing on the increasing adoption of EVs globally.

EV sales have exceeded early estimates in many countries, with a projected 35% growth in sales this year, reaching 14 million units after a record-breaking 2022. China has already surpassed its 20% EV share target ahead of schedule, while the United States plans to invest $15 billion in EV infrastructure. The global EV market saw over 10 million EVs sold in 2022, and revenue is projected to reach $561.3 billion in 2023. By 2025, global EV sales are estimated to reach around 23 million units annually, potentially saving 5 million barrels of oil per day by 2030.

Defiance ETFs aims to meet investor demand for a pure EV ETF that focuses solely on EV companies, without including traditional semiconductor and auto stocks with minimal or no EV sales. This new offering, EVXX, aims to capture the emerging megatrend of EVs while maintaining a concentrated and focused investment approach.

Defiance ETFs specializes in thematic ETFs that target disruptive innovations, such as artificial intelligence, machine learning, quantum computing, 5G, hydrogen energy, and now electric vehicles. Investors are advised to carefully consider the investment objectives, risks, charges, and expenses of the funds before investing. The ETFs are distributed by Foreside Fund Services, LLC.

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