Truflation launches Electric Vehicle Commodity Index

THURSDAY, FEBRUARY 29, 2024 – Truflation, the independent and unbiased provider of verifiable economic data, has launched the Truflation EV Commodity Index, which represents a comprehensive basket of commodities required for electric vehicle production and is designed to provide a reliable benchmark for tracking their price movements.

The index tracks the prices of five core commodities integral to the EV production process – Cobalt, Copper, Nickel, Palladium, and Platinum futures – and is priced in both US dollars and Bitcoin. This reflects Truflation’s commitment to the modern financial landscape, allowing users to understand the purchasing power of their Bitcoin in relation to electric vehicle costs.

Anchored to a base date of January 1, 2018, Truflation’s new EV Index multiplies the types of EVs produced by the underlying commodities needed to produce the required batteries, covering four distinct EV types: Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), Plug-in Hybrid Electric Vehicles (PHEVs) and Fuel Cell Electric Vehicles (FCEVs). The basket employs a dynamic weighting scheme based on the metal intensity and market share of each vehicle type and is rebalanced on a quarterly basis.

Stefan Rust, CEO of Truflation, says: “Our new EV index represents another step on the Truflation Stream Network’s journey to become the definitive and unbiased source of commodity pricing data on-chain. The EV Commodity Index is designed to be a resilient and adaptable tool for understanding and navigating the complex dynamics of the EV commodity market.

With the introduction of Bitcoin pricing, we aim to provide a modernized view of the index’s value and cater to the evolving financial landscape. These updates are part of our ongoing efforts to enhance the accuracy and relevance of the EV Commodity Index in the dynamic EV market.”

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