Mirae Asset Investment Managers in India has introduced the country's first Exchange Traded Fund (ETF) dedicated to the New Age Automotive and Electric Vehicle (EV) markets. The 'Mirae Asset Nifty EV and New Age Automotive ETF' aims to allow investors to put their money into companies leading the automotive industry by tracking the Nifty EV and New Age Automotive Total Return Index. ETFs combine characteristics of equities and mutual funds and have gained popularity globally. The Indian government's initiatives like the FAME scheme and PLI scheme have been promoting the adoption of electric vehicles, aligning with the sector's shift towards sustainable mobility options. The ETF targets companies in Electric Vehicles, Hybrid Vehicles, Battery Manufacturing, and future disruptions such as Hydrogen-fuel cell and Autonomous Vehicles. Mirae Asset's CEO highlighted the goal of providing investors with a unique opportunity to participate in the evolving automotive sector while supporting sustainable development. The NFO for this ETF will be open for subscription in June 2024, with a minimum investment of Rs 5,000. The launch comes at a promising time for the Indian automotive industry, with expected substantial growth in the electric vehicle market driven by consumer demand, government support, and technological advancements.