Tesla (NASDAQ: TSLA) is to be included in two new indices by Chinese index provider CSI, which will launch on July 6. The inclusion will provide potential opportunity for both Chinese investors and the Texas-based manufacturer.
Tesla and some other electric vehicle companies (NIO, XPeng Motors and Li Auto) will be included in two new indices by the local index provider next month. It is expected that this will bring companies an additional passive influx of investors. China Securities Index Co Ltd (CSI) will officially launch the CSI Global Intelligent Vehicle Index, CSI HK and US Listed Intelligent Vehicle Index, CSI 300 Bank and Insurance Index, and CSI 800 Bank and Insurance Index on July 6, according to an announcement made today, per CnEVPost.
The two smart vehicle-related indices will include 50 constituents whose businesses are in the areas of sensing and positioning, decision planning, control execution, intelligent cockpits and connected vehicles, according to the announcement. Other companies in the index include Baidu, Google, Intel, Nvidia, NXP Semiconductors and Tusimple Holdings.
The CSI HK and US Listed Intelligent Vehicle Index currently has 37 constituents, including Tesla, NIO, XPeng, Li Auto, Baidu, Google, Intel, Nvidia, NXP Semiconductors, and Tusimple Holdings.
CSI was established in August 2005 as a financial market index provider jointly funded by the Shanghai and Shenzhen Stock Exchanges. CSI currently manages over 5,000 indices covering a wide range of asset classes including stocks, bonds, commodities, index futures and funds. Inclusion in CSI indices means that money from funds that track these indices can flow into its constituent stocks. This will potentially provide more investment channels for Chinese investors who are optimistic about the smart electric vehicle industry.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.