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Mirae Asset MF has launched the Mirae Asset Nifty EV and New Age Automotive ETF, an open- ended scheme which will invest in emerging disruptive technologies like electric vehicles, hybrid vehicles, battery production, automation, hydrogen fuel cell etc.
The ETF will also target companies participating in key government initiatives like FAME (Faster Adoption & Manufacturing of Electric Vehicles) and PLI (Production linked Incentive).
In a press release Swarup Anand Mohanty, Vice Chairman & CEO, Mirae Asset MF said, "With the launch of India’s first ETF focussed on the electric vehicles and new age automotive segment, we aim to offer investors a unique opportunity to participate in the future of mobility while supporting sustainable development in the automotive sector.
