The Mustang Mach-E from Ford has surpassed Tesla’s Model 3 as the top electric vehicle (EV) for Consumer Reports in 2022. Aside from its popularity, data released regarding the reliability of the Mach-E helped push the car into the top spot, knocking the incumbent Tesla Model 3 down, reports CNBC.
Image Source: CarScoops
This brings further validation to Ford CEO Jim Farley’s ambitions of outcompeting Tesla eventually within the EV space. The Mach-E so far has logged very few issues, and that, in combination with owner reviews as well as testing done by Consumer Reports, prompted its ascension into the number one spot.
“Not only is it a really fun vehicle to drive, it is sporty, but it is also extremely mature,” Jake Fisher, senior director of automotive testing at Consumer Reports, told CNBC. “When I say that it rides nice, it is very quiet. I mean it really feels well built.”
The Model 3 is still recommended by the nonprofit organization, but the Mach-E simply outcompeted the smaller vehicle in several areas, including hands-free driving and driver alerts for distraction. It was a more competitive field this year as Fisher asserted the dramatic increase in quality and offerings from car makers continued to grow.
KARS Invests in Top EV Makers in a Rapidly Growing Industry
For investors looking to capture the performance of companies such as Ford and Tesla as well as major EV producers globally, the KraneShares Electric Vehicles and Future Mobility ETF (NYSE: KARS) offers a good solution.
KARS invests in many familiar car companies such as Tesla, Ford, Mercedez-Benz, GM, BMW, and others, as well as major Chinese EV manufacturers such as Xpeng, Nio, and BYD, some of the biggest companies in the global electric vehicle industry.
KARS measures the performance of the Bloomberg Electric Vehicles Index, which tracks the industry holistically, including exposure to electric vehicle manufacturers, electric vehicle components, batteries, hydrogen fuel cells, and the raw materials utilized in the synthesis of producing parts for electric vehicles.
The index has strict qualification criteria. Companies must be part of the Bloomberg World Equity Aggregate Index, have a minimum free-float market cap of $500 million, and have a 90-day average daily traded value of $5 million.
Ford (F) is the top holding for KARS at 5.38%, while Tesla (TSLA) is within the top five holdings at 5.09%.
The ETF has an expense ratio of 0.70%.
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