Underlying Index Performance: The ETF's price closely tracks the performance of its underlying index, typically focused on US companies benefiting from electric vehicle and related technology. Strong index performance leads to higher ETF prices.

Supply and Demand: Market supply and demand for the ETF shares themselves impacts its price. High demand increases the price, while increased supply decreases it.

Investor Sentiment: Overall market sentiment towards electric vehicles and related industries influences investor interest and the ETF's price. Positive sentiment can drive up the price.

Expense Ratio and Trading Costs: The ETF's expense ratio and trading costs impact returns, indirectly affecting the price investors are willing to pay. Lower costs are generally more attractive.

Currency Exchange Rates: For international investors, exchange rate fluctuations between their local currency and the US dollar will impact the ETF's return and perceived price.