We’re all well aware of the electric vehicle boom. We know about most of the top EV stocks all over the world. And we know global leaders want millions of them on the roads to combat climate issues. We also know major automakers are racing to add more EV models to their fleets. We also know many automakers are after more lithium metal supply, like lithium. Plus, there’s so much demand for EVs, some U.S. states are temporarily pausing EV incentives that were designed to promote adoption, says Electrek.co.
“According to data from Cox Automotive, total US auto sales fell 8% year-over-year (YoY) from 2021, but EV sales climbed 65%, passing 800,000 in volume for the first time. The trend is not slowing this year either. The latest data shows EV sales broke another record in Q1, surpassing 250,000 and claiming over 7% of total US auto sales,” added Electrek.co.
So, where should smart investors park their cash with EV stocks, with hopes of turning $1,000 into $10,000? There are your usual EV stocks, like Tesla (NASDAQ:TSLA). But if you want a piece of all of the EV action, solid diversification, and low cost, check out some of the top ETFs, such as these.
Amplify Lithium & Battery Technology ETF (BATT)
If you are looking to diversify, at a relatively low cost, look no further than the Amplify Lithium & Battery Technology ETF (NYSEARCA:BATT). With an expense ratio of 0.59%, the BATT ETF provides exposure to global companies deriving material revenue from developing, producing and using lithium battery technology. Some of its top holdings include Tesla (NASDAQ:TSLA), Albemarle (NYSE:ALB), Sociedad Quimica (NYSE:SQM), and Panasonic (OTCMKTS:PCRFY).
Global X Autonomous & Electric Vehicles ETF (DRIV)
One of the best ways to diversify your artificial intelligence (AI) exchange-traded funds (ETF) portfolio, as it applies to electric vehicles, is with an ETF, such as the Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV). In fact, the DRIV ETF tracks an index that uses AI to select global stocks involved in the development, production, or supporting technology of autonomous and electronic vehicles.
With an expense ratio of 0.68%, some of its top holdings include Tesla Nio (NYSE:NIO), Qualcomm (NASDAQ:QCOM), Apple (NASDAQ:AAPL), Advanced Micro Devices (NASDAQ:AMD), and Toyota Motor (NYSE:TM); it does so at a lesser cost.
KraneShares Electric Vehicles and Future Mobility ETF (KARS)
The KraneShares Electric Vehicles and Future Mobility ETF (NYSEARCA:KARS) is accelerating, too. With an expense ratio of 0.70%, this ETF provides exposure to companies involved in the production of EVs and their components.
It’s also benchmarked to the Bloomberg Electric Vehicles Index, according to KraneShares.com. Some of its top holdings include Albemarle (NYSE:ALB), BYD Co. (OTCMKTS:BYDDF), Tesla, Panasonic Holdings(OTCMKTS:PCRFY), Aptiv (NYSE:APTV), and Lucid Group (NASDAQ:LCID) to name a few.
On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.