NEW YORK, April 17, 2018 /PRNewswire/ -- Global X Funds,
the New York-based provider of
exchange traded funds (ETFs), announced today the listing of the
Global X Autonomous & Electric Vehicles ETF (Nasdaq: DRIV).
Designed to track the Solactive Autonomous & Electric Vehicles
Index, the fund holds a basket of companies involved in the
production or development of electric vehicles (EVs) and autonomous
vehicles (AVs). This includes companies involved in the development
of autonomous vehicle software and hardware, as well as companies
that produce EVs, EV components such as lithium batteries, and
critical EV materials such as lithium and cobalt.
Electric vehicles are showing signs that they are at the early
stages of an adoption curve that could spark a rapid embrace of the
technology. In 2017, electric vehicle sales represented 1.7% of all
vehicle sales globally, exceeding 1 million for the first time, and
increasing 51% from 2016.1 While autonomous vehicles are
not yet as common as EVs, the race to full automation that requires
no human input in any circumstance is well under way. According to
some estimates, by simply freeing drivers of the necessity of
spending time driving, AVs could boost U.S. GDP by $0.5-2.3 trillion by 2030.2
"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."
The adoption of electric vehicles is expected to see a boon from
bans on new sales of gas cars by major economies around the world.
Norway, for example, proposes a
ban on the sale of gas powered vehicles by 2025 and has already
made meaningful strides, with EVs representing 39% of total sales
in 2017.3 Others, like India, China,
and the state of California, have
announced similar aspirations. Various car manufacturers believe
mass-market AV technology could be just a few years away, aiming
for fully autonomous cars becoming commercially available between
2019 and 2021.
The fund is the sixth in Global X's suite of thematic technology
ETFs. The suite totals $3.91 billion
in AUM, as of March 29, 2018.
ABOUT GLOBAL X
Seeking to provide access to
high-quality and cost-efficient investment solutions, Global X is a
New York-based sponsor of
exchange-traded funds (ETFs). Founded in 2008, we are
distinguished by our smart core, income, alpha, risk management and
access suites of ETFs and have more than 50 funds available across
U.S. and foreign exchanges. Global X is recognized as a leader in
developing intelligent investment solutions for our clients.
Investing involves risk, including the possible loss of
principal. The investable universe of companies in which DRIV may
invest may be limited. The companies in which the Fund invests may
be subject to rapid changes in technology, intense competition,
rapid obsolescence of products and services, loss of intellectual
property protections, evolving industry standards and frequent new
product productions, and changes in business cycles and government
regulation. There are additional risks associated with investing in
mining industries. International investments may involve risk of
capital loss from unfavorable fluctuation in currency values, from
differences in generally accepted accounting principles or from
social, economic or political instability in other nations.
Emerging markets involve heightened risks related to the same
factors as well as increased volatility and lower trading volume.
DRIV is non-diversified.
Shares of ETFs are bought and sold at market price (not NAV) and
are not individually redeemed from the Fund. Brokerage commissions
will reduce returns.
Carefully consider the Fund's investment objectives,
risks, and charges and expenses. This and other information can be
found in the Fund's summary or full prospectuses which may be
obtained at www.globalxfunds.com. Please read the prospectus
carefully before investing.
Global X Management Company LLC serves as an advisor to Global X
Funds. The Funds are distributed by SEI Investments Distribution
Co. (SIDCO), which is not affiliated with Global X Management
Company LLC. Global X Funds are not sponsored, endorsed, issued,
sold or promoted by Solactive AG, nor does Solactive AG make any
representations regarding the advisability of investing in the
Global X Funds. Neither SIDCO nor Global X is affiliated with
Solactive AG.
1 International Energy Agency, "Global EV Outlook
2017," June 2017.
2 RethinkX, "Rethinking Transportation 2020-2030,"
May 2017.
3 Electrek, "Electric Cars Reach New 52% Market Share
Record in Norway Thanks to Tesla's
Record Deliveries," Jan 3, 2018.
View original
content:http://www.prnewswire.com/news-releases/global-x-funds-announces-listing-of-the-global-x-autonomous--electric-vehicles-etf-driv-300631311.html
SOURCE Global X Funds