Earlier this month I had the opportunity to sit down with Elliot Johnson to talk about clean safe car technology and why this trend is here to stay.
Q. The Federal Government just announced $180 million in funding for clean car technology in 2018. This is a great idea, but how can this help Canadians afford a cleaner safer car?
A. Over 60 per cent of Canadians have stated they would like to buy a clean car, but there is a gap between our thirst for reducing our carbon footprints and our tight budgets. Right now, the money from the Federal Government is going to go towards charging infrastructure in 2018; so it’s not going to help the end-users directly.
Q. How can we make this financial gap smaller?
A. First, the average consumer of a zero-emission vehicle saves approximately $150 per month on fuel which totals $1,800 in annual savings. That savings can be used to offset the cost of the vehicle.
Q. Just how big is the market for clean safe cars?
The International Energy Agency says there will be over 150 million electric vehicles on the road globally by 2030. That’s a huge investment opportunity in the auto manufacturing sector, but also the automotive supply chain.
Q. Evolve ETFs recently launched CARS, an ETF that focuses on investing in advanced car technology. Tell us about this.
The future of cars is autonomous, connected, electric and shared (ACES). Our new ETF invests in the supply chain for clean safe vehicles and that’s what makes it unique. It’s the first ETF of it’s kind in Canada.
Q. What do the shares cost?
The share value for CARS can go up and down, but today it is trading at just over $20 per share. Shares can be purchased through an online broker, traditional broker and some robo-advisors are incorporating CARS into their investment portfolios.