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BlackRock launches ETF to profit from electric car growth

BlackRock launches ETF to profit from electric car growth

BlackRock has launched an exchange-traded fund (ETF) that tracks companies involved in the production of electric cars. iShares Electric Vehicles and Driving Technology UCITS ETF (ECAR) will track Stoxx Global Electric Vehicles & Driving Technology index. This is composed of 96 companies that manufacture electric cars, batteries and car parts. The three largest components of this index are US-listed stocks Garmin (US:GRMN), Integrated Device Technology (US:IDTI) and Marvell Technology (US:MRVL). The ETF has an ongoing charge of 0.4 per cent.

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