White-label ETF issuer HANetf will launch the world’s first ETF specifically targeting electric vehicle (EV) charging infrastructure.
The Electric Vehicle Charging Infrastructure Equity UCITS ETF (ELEC) will list on the London Stock Exchange, Deutsche Boerse and Borsa Italiana with a total expense ratio (TER) of 0.65%.
Tracking the Solactive EV Charging Infrastructure index, ELEC offers concentrated exposure to 12 companies specialising in either the manufacture of battery charging equipment or the rollout and operation of EV charging stations.
HANetf research suggested EVs’ market share will rise from 3% today to nearly 60% of all cars globally by 2040.
Bloomberg NEF’s EVO Report 2021 added the global EV charging station market could grow sixfold between 2022 and 2027.
ELEC is categorised as Article 8 under the Sustainable Finance Disclosure Regulation (SFDR).
Hector McNeil, co-founder and co-CEO of HANetf, said: “The future of cars is electric. However, underpinning this revolution will be a huge build-out of car charging capacity.
“Just as the growth of traditional cars in the 20th century required the building of gas and petrol stations, the electric car revolution in the 21st century will require abundant charging stations and home units.”
At the end of March, HANetf partnered with Casa de Bolsa Finamex SAB de CV to launch a Mexican sovereign bond ETF in Europe.