Monthly EV Charging Infrastructure ETF Report | February

Electric Vehicle Charging ETF Key Takeaways

On January 18, 2024, NIO (9866.HK) announced its listing among the 2024 Global 100 Most Sustainable Corporations in the World, a ranking which is published by Corporate Knights. Of all 6,733 companies which have been evaluated, NIO ranks No. 50. The evaluation criteria consist of 25 quantitative and 5 qualitative key performance indicators, including sustainable revenue, investment, employee and supplier performance.

EVgo Inc. (EVGO.OQ) and Toyota Motor North America Inc. (Toyota) extended their agreement to provide drivers who purchase or lease a new 2024 bZ4x model with one year of complimentary fast charging across Evgo’s network in the US. The collaboration helps boost range confidence for EV drivers by providing access to this fast-charging network which is owned and operated by Evgo. The partnership has the goal to help spur the mass adoption of EVs throughout the US by improving convenience and accessibility.

On January 17, EVgo Inc. (EVGO.OQ) announced preliminary financial as well as operating results for the fiscal year 2023. EVgo announced a preliminary throughput of approximately 130 gigawatt-hours (“GWh”) with its charging network utilization increasing by over 19% in December 2023 compared to September 2023. At the end of 2023, over 3,500 EVgo stalls were either already operating or still under construction.

On January 24, Tesla Inc. (TSLA.OQ) released its financial results for the fourth quarter and full fiscal year of 2023. The company produced approximately 495,000 vehicles and delivered over 484,000 vehicles in the fourth quarter. Overall, Tesla’s vehicle deliveries increased by 38% year over year, amounting to 1.81 million in 2023. Additionally, vehicle production also grew to 1.85 million, marking an increase of 35% compared to 2022.

On January 25, NaaS Technology Inc. (NAAS.OQ) published that its full product portfolio of 14 charging pile models attained CE Certification from the European Union. The products have undergone stringent safety, performance, and environmental tests and comply with the applicable standards. These models are specifically designed for markets in Europe, the Middle East, and Asia-Pacific regions. The certification marks an important step in NaaS Technology’s further expansion.

Sources available upon request. Please note that all performance figures are showing net data. Past performance is not indicative of future performance. When you invest in ETFs, your capital is at risk.

Macro Outlook

The Biden administration announced over $620 million in grant funding to help countries, cities, and tribes across the US install new charging infrastructure for EVs and long-haul freight trucks. Rooted in the bipartisan infrastructure law, the funding will support 47 projects in 22 states and will result in 7,500 new charging ports. The Biden administration as well as several private companies such as EVgo (EVGO.OQ) are making it their priority to install more charging stations as more Americans make the switch towards electric vehicles. Last year, EVs amounted to 9% of total passenger sales in the US. By the end of 2023 there were about 170,000 chargers on US roads, however, this amount is not sufficient yet which is why the Biden administration strives for 500,000 charging stations by the end of the decade.

In January 2024, the Zero Emission Vehicle (ZEV) Mandate came into force in the UK. It sets out the percentage of new zero emission cars and vans, manufacturers will be required to produce each year. For this year, a goal of 10% of vans and 22% of cars that are sold my manufacturers need to be electric. The targets will increase each year with the total percentage of zero emission cars being sold amounting to 100% by 2035.

All sources available upon request. Please note that all performance figures are showing net data. Past performance is not indicative of future performance. When you invest in ETFs, your capital is at risk.

Electric Vehicle Charging ETF Performance
As of 31.01.2024

1M3M6MYTD12MSI
Electric Vehicle Charging Infrastructure UCITS ETF-12.84%22.32%-45.07%-12.84%-57.81%-73.37%
Solactive Electric Vehicle Charging Infrastructure Index-12.81%22.65%-44.86%-12.81%-57.35%-72.90%

Please note that all performance figures are showing net data. Source: Bloomberg / HANetf. Data as of 31/01/2024

Performance before inception is based on back-tested data. Backtesting is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such a strategy would have been. Back-tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. Past performance for the index is in USD. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (“Prospectus”) before investing and should refer to the section of the Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in this product. When you invest in ETFs and ETCs your capital is at risk.

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