> ## Content Index > Fetch the complete content index at: https://newsletters.qs.com/llms.txt > Use this file to discover other available public pages before exploring further. # ๐Ÿš— Electric Vehicles Index Grows 15%. $180M+ VC Funding. - URL: https://newsletters.qs.com/electric-vehicles-index-grows-15-180m-vc-funding/ - Published: 2024-05-29T11:15:03.000Z - Updated: 2024-06-21T12:53:06.000Z - Description: Impact Capital Markets #103 looks at our Electric Vehicles Stock Index, major impact deals, M&A, and upcoming economic releases. - Author: QS - Tags: Deals [**Annyeonghaseyo**](https://en.wikipedia.org/wiki/Korean%5Flanguage?ref=newsletters.qs.com#:~:text=Korean%20%28South%20Korean%3A%20%ED%95%9C%EA%B5%AD%EC%96%B4%2C,North%20Korea%20and%20South%20Korea.&text=Names%20for%20the%20Korean%20language%20written%20vertically%20in%20Hangul.) ๐Ÿœ ๐Ÿ“‰ **Today's Global Economic Update:** The consumer confidence index in Japan [fell to 36.2 in May 2024, the lowest since last November, down from 38.3](https://www.cao.go.jp/statistics/index.html?ref=newsletters.qs.com) in April and below the forecast of 38.9\. This persistent decline highlights growing concerns about Japan's economic stability and potential challenges. โšก **Deal of the Day:** Cloover**,** a German renewable energy finance provider, raised a [$114M Seed](https://cloover.co/article?slug=cloover-secures-114m-to-connect-1bn-people-to-renewable-energy&ref=newsletters.qs.com) to grow its platform and connect industry stakeholders. **What's New?** ๐Ÿš— **Electric Vehicles.** Electric vehicles index grows 15% **๐Ÿ’ฐ Funding.** Renewable energy finance, sustainable materials, biotech + more ๐Ÿ’ผ **M&A.** OpenText acquired Pillr ๐Ÿ“… **Economics.** US GDP, Euro area inflation, balance of trade + more ## ๐Ÿš— Electric Vehicles Grows 15% [![](https://storage.ghost.io/c/f1/d4/f1d411df-6f49-4c75-a302-f8c9e9f59495/content/images/2024/05/HolonIQ_HolonIQ_Electric_Vehicles_Stock_Index_HIQEV_HCHE0DRO2LTEUC9OP10S.png)](https://index.holoniq.com/charts/HCHE0DRO2LTEUC9OP10S/HolonIQ-Electric-Vehicles-Stock-Index-%28HIQEV%29?ref=newsletters.qs.com) HolonIQโ€™s Electric Vehicle index has experienced a 15% Year-over-Year increase, gaining momentum since November 2023 and maintaining a consistent upward trend, albeit with minor fluctuations. EVs are rapidly growing as climate and pollution concerns drive consumer and industry adoption for a greener future, reducing carbon emissions. In the last year, sales of electric vehicles have increased by 35%, with over 14M new electric cars hitting the roads worldwide. Also, factors like technological advancements, government policies, and initiatives, such as tax changes in China and incentives for localized production in Europe and the US, are contributing to sustained growth in the EV market. This trend has been evident in key stocks such as Stellantis NV ($71B MCap), which gained 49% YOY. While the growth rate in global EV sales is moderating, declining costs, and the expansion of charging infrastructure are paving the way for further growth in the coming years. ## **๐Ÿ’ฐ** Funding โšก **Cloover,** aGerman renewable energy finance provider, raised a [$114M Seed](https://cloover.co/article?slug=cloover-secures-114m-to-connect-1bn-people-to-renewable-energy&ref=newsletters.qs.com) from Lowercarbon Capital to grow its platform. โ™ป๏ธ **Claros Technologies**, a Minnesota-based sustainable material company raised a [$22M Series B](https://www.prnewswire.com/news-releases/claros-technologies-inc-raises-22-million-to-accelerate-pfas-destruction-and-analytical-technologies-302155517.html?ref=newsletters.qs.com) from the Ecosystem Integrity Fund and American Century Investments to advance R&D efforts. ๐Ÿงฌ **Lucy Therapeutics**, a Massachusetts-based biotech company, raised [$12.5M](https://www.finsmes.com/2024/05/lucy-therapeutics-raises-12-5m-in-funding.html?ref=newsletters.qs.com) from Engine Ventures and Safar Partners to support its research programs. ๐ŸŒ **Vizcab**, a French carbon impact reduction platform, raised a [$4.9M Series A](https://tech.eu/2024/05/28/vizcab-raises-eur45m-to-boost-carbon-reduction-in-construction-projects/?ref=newsletters.qs.com) from KOMPAS VC to expand its operations. ๐Ÿ”‹ **Maxvolt Energy**, an Indian electric vehicle battery manufacturer, raised [$1.5M](https://www.mercomindia.com/maxvolt-energy-secures-1-5-million?ref=newsletters.qs.com) to support the company's research and development. ## **๐Ÿ’ผ** M&A ๐Ÿ›ก๏ธ **OpenText**, a Canadian cybersecurity company [acquired](https://www.finsmes.com/2024/05/opentext-acquires-pillr.html?ref=newsletters.qs.com) Pillr, a Kansas-based security operations software provider. ## **๐Ÿ“…** Economic Calendar US GDP, Euro Area Inflation, Balance of Trade + More ### Thursday, May 30th 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US GDP Growth Data, Q1](https://www.bea.gov/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ณ [China NBS Manufacturing PMI, May](http://www.stats.gov.cn/?ref=newsletters.qs.com) ### Friday, May 31st 2024 ๐Ÿ‡ซ๐Ÿ‡ท [France Inflation Data Preliminary, May](https://www.insee.fr/fr/accueil?ref=newsletters.qs.com) ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area Inflation Data (Flash), May](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy Inflation Data Preliminary, May](https://www.istat.it/?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡ณ [India GDP Growth Data, Q1](https://www.mospi.gov.in/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ฆ [Canada GDP Growth Data, Q1](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Core PCE Price Index, April](https://www.bea.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Personal Income & Spending, April](https://www.bea.gov/?ref=newsletters.qs.com) ### Monday, June 3rd 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Manufacturing PMI, May](https://www.ismworld.org/?ref=newsletters.qs.com) ### Tuesday, June 4th 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US JOLTs Job Openings, April](https://www.bls.gov/?ref=newsletters.qs.com) ๐Ÿ‡ฆ๐Ÿ‡บ [Australia GDP Growth Data, Q1](https://www.abs.gov.au/?ref=newsletters.qs.com) ### Wednesday, June 5th 2024 ๐Ÿ‡จ๐Ÿ‡ฆ [Canada BoC Interest Rate Decision](https://www.bankofcanada.ca/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Services PMI, May](https://www.ismworld.org/?ref=newsletters.qs.com) ๐Ÿ‡ฆ๐Ÿ‡บ [Australia Balance of Trade Data, April](https://www.abs.gov.au/?ref=newsletters.qs.com) ### Thursday, June 6th 2024 ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area Deposit Facility Data](https://www.ecb.europa.eu/home/html/index.en.html?ref=newsletters.qs.com) ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area ECB Interest Rate Decision](https://www.ecb.europa.eu/home/html/index.en.html?ref=newsletters.qs.com) ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area ECB Press Conference](https://www.ecb.europa.eu/home/html/index.en.html?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Ivey PMI s.a, May](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ณ [China Balance of Trade Data, May](http://www.customs.gov.cn/?ref=newsletters.qs.com) ### Friday, June 7th 2024 ๐Ÿ‡ฉ๐Ÿ‡ช [Germany Balance of Trade Data, April](https://www.destatis.de/DE/Home/%5Finhalt.html?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Balance of Trade Data, April](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Employment Data, May](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Employment Data, May](https://www.bls.gov/?ref=newsletters.qs.com)[](https://www.ifo.de/?ref=newsletters.qs.com) --- **Like getting this newsletter?* For unlimited access to more deals and economic updates,* [*request a demo*](https://webforms.pipedrive.com/f/1uMbIPRqUeVuZ31jVtKWMWIuqU2ga1nKo8aotNdGihU16zgOzuTfRMb9XfIIGmcOT?ref=newsletters.qs.com)*.* --- **Thank you for reading. 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