Shares of electric vehicle makers got a broad boost Monday, after upbeat delivery and production data from a host of companies, including industry leader Tesla Inc. and those based in China.
The Global X Autonomous and Electric Vehicles exchange-traded fund DRIV jumped as much as 1.7% intraday, before paring gains to close up 1.1%. It has climbed 5.7% amid a five-day win streak. The ETF outperformed the broader stock market by a wide margin, as the S&P 500 index SPX inched up 0.1% and the Nasdaq Composite COMP edged up 0.2%.
The ETF’s second-most active member was Rivian Automotive Inc.’s stock RIVN , which shot up 17.4% to its highest close since Feb. 17, and rocketed 45.4% amid a five-day win streak. Among its China-based peers, the U.S.-listed shares of Xpeng Inc. XPEV advanced 4.2% to the highest close since Sept. 26, 2022, of Li Auto Inc. LI hiked up 3.4% to the highest close since July 21, 2022 and of Boyd Co. Ltd. BYDDY rose 3.1%.
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