Demand for electric vehicles could see a surge this year as the U.S. Environmental Protection Agency (EPA) has proposed new tailpipe emissions limits which could result in 67% of all new vehicles sold in the U.S. being all-electric by 2032. This could be the United States’ most aggressive climate regulations to date and could even surpass President Biden’s prior commitment to have EVs comprise half of all cars sold by 2030.
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According to a CNBC report, citing data from the Kelley Blue Book, while EV sales in the U.S. have increased over the last few years, they made up only 5.8% of 13.8 million new vehicles sold last year and were up 3.1% year-over-year.
EV stocks, however, including Tesla (TSLA), GM (GM), and Ford (F) were all down in morning trading on Wednesday.
For investors interested in getting exposure to EV stocks, the KraneShares Electric Vehicles & Future Mobility Index ETF (KARS) is a good option. Over the past five trading sessions, KARS has gained 1.3%.
