DRIV ETF

It hasn't been a good year for the electric vehicle industry, but the tide could turn in 2025.

Following the recent surge in EV sales and decreasing prices which make EVs more affordable, investing in EV ETFs with a long-term horizon becomes appealing.

It has been a catastrophic period for Electric Vehicle (EV) charging stocks. For one, the Global X Autonomous & Electric Vehicles ETF (NASDAQ: DRIV ) and the Global X Lithium & Battery Tech ETF (NYSEARCA: LIT ) have both shed asymmetrical value in the past month, showing the systematic headwinds baked into the EV market.

If you live in a city or large metropolitan area, finding an electric vehicle charging station is likely no problem. Most hookups are located on both coasts.

DRIV edged higher since November 2023, but remains in a sideways trading range. Composition of holdings has shifted towards chipmakers over car manufacturers. Concerns over oil prices and the upcoming U.S. election may impact the future of DRIV and the EV market.

Mullen Automotive Inc. saw a significant increase in its stock price on Monday following the announcement that its Mullen Three truck had received HVIP approval, potentially reducing the cost of the vehicle to $16,000 with the federal tax credit.

Nvidia is a top player in the AI industry, with its stock soaring over three times in the last year. Many other AI stocks have significantly dropped from their peak, highlighting the difficulty in selecting successful investments.

Shares of Mullen Automotive bounced Monday off a record low, after the troubled electric vehicle maker said it has started making “significant” cost cuts, as it changes its focus on its commercial EV business given weakness in the consumer EV market.

We have highlighted ETFs that are expected to benefit/lose from higher oil prices.