Blackrock has launched an exchange-traded fund that offers exposure to electric vehicles and driving technology.
The iShares Electric Vehicles and Driving Technology Ucits ETF (Ecar) allows investors to invest in companies across the electric vehicle value chain.
It tracks the Stoxx Global Electric Vehicles and Driving Technology index which is made up of firms involved in manufacturing, battery suppliers and component producers.
The ETF has a total expense ratio (TER) of 0.4 per cent.
Rob Powell, lead strategist at iShares Thematic Investing at BlackRock, said: "We are on the cusp of another huge leap in the way we get from A to B, as the irreversible trend towards electric vehicles unfolds.
"And beyond the vehicle manufacturers, producers of battery technology, autonomous vehicle components and charging infrastructure will all benefit from this revolution in transportation.
"Thematic investments, such as Ecar, can help investors seek long-term growth while expressing a view on the innovative companies that will shape the global economic future."
According to July 2018 data from BlackRock and Bloomberg New Energy Finance, there are 1.1m electric vehicles sold every year and this is expected to rise to 60m by 2040.
In 2018 the International Energy Agency stated transport accounted for a roughly a quarter of CO2 emissions globally.
Darius McDermott, managing director at Chelsea Financial Services, said: "I do think we are at the very start of the electric vehicle revolution so this may be of interest. At 0.4 per cent it's not overly cheap and I wonder how diverse the index is, but certainly an interesting product."
Adrian Lowcock, head of personal investing at Willis Owen, added: "This is an example of how easy it can be to produce an ETF which can follow a specific sector or theme.
"Whilst this product is likely to appeal it is very niche and even though transportation is likely to go through a major transformation it is very early to know how this will evolve and who will be the winners from it.
"It is by no means certain new companies will be the winners. For most investors this is just too niche but could suit tech biased investors with larger portfolios."
