Global X Lithium & Battery Tech ETF

LIT

Market cap $2.23B

Spiking fuel prices across the U.S. have put the spotlight back on EVs.

Demand for electric vehicles in Europe has surged as high fuel prices linked to the Iran war propel sales of new and second-hand EVs, data exclusively shared with ​Reuters shows, providing a much-needed boost to the auto industry.

U.S. House lawmakers proposed bipartisan legislation that would require electric vehicles to ​pay a $130 fee to pay for road repairs annually and $35 for some ‌plug-in hybrid models.

Canada is allowing 49,000 Chinese-made electric vehicles to be imported for retail sales annually at a tariff rate of 6.1%. That's opening the market for auto dealers in the country to sell Chinese EVs.

Electric vehicle sales have soared in Europe and much of the rest of the world, but Americans are still hesitant.

Global demand for electric vehicles rose for a second straight month in April as high petrol prices kept steering buyers ​away from combustion-engine cars, data from consultancy Benchmark Mineral Intelligence showed on ‌Wednesday.

Two members of the U.S. House of ​Representatives on Monday will introduce ‌legislation to toughen a U.S. government ban on Chinese ​automakers from entering ​the American market just before ⁠President Donald Trump heads to China ​for talks.

As President Donald Trump prepares to meet with Chinese President Xi Jinping this week, the U.S. auto industry and lawmakers on both sides of the aisle are hammering him with ​a simple message: Please don't offer China any access to the U.S. car market.

China exported more electric vehicles and plug-in vehicles than gasoline or diesel cars for the first time in April, as automakers expanded aggressively overseas to offset subdued demand in the domestic market.

AI, Alternative Energy and Commodity stocks are all leading this market as a confluence of economic developments drive growth and constrain supply.