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The ongoing semiconductor chip shortage continues to impact EV production. Nevertheless, falling EV battery costs and increased demand for EVs have heightened investors’ interest in the industry. This is evidenced by the Global X Autonomous & Electric Vehicles ETF (DRIV) and the KraneShares Electric Vehicles and Future Mobility Index ETF’s (KARS) 12.3% and 15.6% gains, respectively, over the past month. This compares to the SPDR S&P 500 Trust ETF’s (SPY) 5.9% returns over the same period.
So, we think it could be wise to add EV stocks, Tesla Inc. (TSLA), Lucid Group Inc. (LCID), Xpeng Inc . (XPEV), and Li Auto Inc. (LI), to your watchlist now. These stocks were the top-performing industry participants last month.
