Electric Vehicles
EV Fund Outflows Hit $1.6 Billion as Trump Fears Add to Slowdown
- Redemptions so far in 2024 have surpassed last year’s total
- Trump seen rolling back US support for electric vehicle sector
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Investors are rushing out of electric vehicle-focused funds as growth forecasts cool and with a potential reelection of Donald Trump seen posing a further challenge to profits.
EV funds tracked by data provider EPFR Global had combined net outflows of $1.6 billion this year to July 31, more than the total redemptions in 2023. The funds saw inflows in 2022.