Global electric vehicle (EV) sales continue to rise, especially in certain parts of the globe. This could support the investment case for an exchange traded fund (ETF) that can capture future upside such as the Fidelity Electric Vehicles and Future Transportation ETF (FDRV ).
Per the baseline fund description, FDRV tracks the Fidelity Electric Vehicles and Future Transportation Index. This index reflects the performance of global companies across various market capitalizations involved with the production of electric and/or autonomous vehicles. The index also includes companies involved in the production of EV components, technology, or energy systems. Additionally, it reflects those companies engaged in other initiatives that aim to change the future of transportation.
Fidelity poised FDRV to capture future growth in certain parts of the globe where EV sales are gaining momentum. This includes areas like Asia (excluding China) where the World Economic Forum is seeing the rapid growth of EV sales. According to data from the International Energy Agency (IEA), developing countries in Asia reached close to 400,000 in 2024, which represents an increase of 40% from 2023.
Again, that data excludes China, where the country itself will make a profound impact on EV sales moving forward. In terms of sheer manufacturing, the IEA noted that China is also the global leader in EV sales production so its ability to penetrate global markets is paramount to meet the demand for EVs. This is especially the case in emerging economies as China’s aim is to provide EVs aimed at affordability.
“This rapid growth has been strengthened by policy incentives and the growing presence of relatively affordable electric cars from Chinese OEMs,” the IEA noted in their report.
This can translate to upside in FDRV as its portfolio includes ~38% exposure to Asia (as of September 30). Furthermore, one of the top holdings includes BYD (Build Your Dreams), which is the largest EV manufacturer in China.
Tesla Continues to Drive U.S. EV Sales
Here in the U.S., Tesla continues to maintain a strong foothold in the domestic EV market. According to a CNBC report, data from Motor Intelligence revealed that U.S. sales of EVs (not including hybrid vehicles) reached 1 million units through the first nine months of 2025. The 438,000 units sold in Q3 marked particularly solid growth.
At the top of the leaderboard in U.S. EV sales is still Tesla with over 40% of the market share through September. In its latest earnings report for Q3, Tesla’s automotive revenue increased 6% to $21.2 billion compared to the same time last year.
Tesla is also the top holding in FDRV (as of September 30).
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Fidelity Investments® is an independent company unaffiliated with VettaFi LLC (“VettaFi”). These articles do not form any kind of legal partnership, agency affiliation, or similar relationship between VettaFi and Fidelity Investments, nor is such a relationship created or implied by the articles herein. VettaFi LLC is the author and owner of these articles.
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