Top EV Penny Stocks in India 2025 | Electric Vehicle Stocks

EV Penny Stocks recently became popular as the Electric Vehicle (EV) industry is rapidly growing with the rise in consumer awareness regarding sustainability. Investors are observing an upward trend in the demand for electric vehicles. Investing in EV penny stocks can be a strategic way to diversify the portfolio and have an early-mover advantage. Scroll down to learn more about low-priced EV stocks in India and their key aspects. 

What are EV Penny Stocks?

EV penny stocks are low-priced stocks of small or mid-cap companies operating in the electric vehicle industry. These stocks are typically priced below ₹100 in India. EV companies majorly diversify their businesses in various categories like manufacturing electric vehicles, producing EV batteries or other related components, developing softwares used in the EV industry, etc.

The top EV penny stocks in India include Wardwizard Innovations, Goldstar Power, Tunwal E-Motors, RattanIndia Enterprises, Ola Electrics, and more. If these EV companies are successful in establishing themselves, they can provide significant returns. 

List of EV Penny Stocks Under ₹100 in India

Explore the top EV penny stocks in India to invest in 2025.

EV Penny Stocks in India: Company Overview

1. Wardwizard Innovations & Mobility Ltd.

Founded: 2016

Headquarters: Vadodara, Gujarat

Market capitalisation: ₹519 cr.

Wardwizard Innovations & Mobility Ltd. is an Indian Electric vehicle company which was the country’s first EV manufacturer to get listed in BSE with the core business of EV Manufacturing. It sells a wide variety of electric two-wheelers under its flagship brand, Joy e-bike. Wizard Innovations & Mobility is currently priced at ₹20.35 and is one of the promising long-term EV penny stock picks.

2. Goldstar Power Ltd.

Founded: 1982

Headquarters: Jamnagar, Gujarat

Market capitalisation: ₹219 cr.

Goldstar Power Ltd. is a leading manufacturer of various types of batteries for the automotive industry. With an upsurge in demand for sustainable energy solutions, the company has gained traction in urban and rural areas. The current market price of the stock is ₹9.70, making it a suitable choice for beginners.

3. Tunwal E-Motors Ltd.

Founded: 2018

Headquarters: Pune, Maharashtra

Market capitalisation: ₹173 cr.

Tunwal E-motors is an EV company that ensures technological advancements in its offerings while prioritising environmental sustainability. It has revolutionised the transportation industry with innovative electric vehicles to reduce carbon footprint. The stock currently trades at ₹31.80 and is a solid pick among the EV penny stocks list.

4. RattanIndia Enterprises Ltd.

Founded: 2010

Headquarters: Gurgaon, India

Market capitalisation: ₹5496 cr.

RattanIndia Enterprises Ltd. is an EV company with a strong focus on enabling cleaner and greener commutes in the country. It is one of the leaders in the EV sector and sells electric vehicles under the brand name Revolt. The present market price of the stock is ₹40.82 and is commonly chosen among long-term EV penny stock picks. 

5. Ola Electric Mobility Ltd.

Founded: 2017

Headquarters: Bengaluru, Karnataka

Market capitalisation: ₹22107 cr.

Ola Electric Mobility Ltd. is one of the most popular stocks in the EV penny stocks list with a substantial market share. With a current price of ₹50.45, its reputation and financial soundness make it a lucrative option for investing in EV penny stocks in India. 

6. Motherson Sumi Wiring India

Founded: 1986

Headquarters: Noida, India

Market capitalisation: ₹22649 cr.

Motherson Sumi Wiring India is a prominent manufacturer of automotive wiring harnesses. Most investors believe in this company’s potential due to its fundamentals and large market capitalisation. The current market price of this EV penny stock is ₹53.18.

7. Mercury EV-Tech

Founded: 1986

Headquarters: Vadodara, Gujarat

Market capitalisation: ₹1051 cr.

Mercury EV-Tech is a one-stop solution for all EV automobile requirements. It has a diversified range of products, making it a preferred choice for consumers. With a current price of ₹57.48, it is a high-potential EV penny stock. 

EV Sector in India: Industry Outlook

India is one of the largest automobile markets in the world, with a substantial impact on air pollution. As more consumers start adopting sustainable products and services, the EV sector is expected to boom. Technological advancements will further accelerate the growth and performance of the industry. Investors with a long-term vision are anticipating this upsurge, leading to an increase in the demand for cheap EV stocks in India. 

Additionally, the EV sector is also supported by the government to promote environmentally friendly options. Therefore, the EV sector in India is likely to be at the forefront of revolutionary developments with high growth potential. 

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Also Read: Best Fundamentally Strong Penny Stocks 2025

Benefits of EV Penny Stocks

Investing in the best shares from the EV penny stocks list can be a strategic move to maximise profits in the EV industry. Some benefits are: 

• Higher Potential for Growth

One of the most significant advantages of cheap EV stocks is that they offer high prospects for experiencing exponential growth in the long term. Being in the early stages of development, these companies are quick to adapt to the latest market trends. This flexibility to pivot promptly enables them to target strategic partnerships and expand rapidly. So, investors of EV penny stocks can benefit from these substantial returns of their investments.

• Low Initial Investment

Unlike other stocks and investment options, long-term EV penny stock picks are traded at a nominal price, usually below ₹100. This allows beginners and small investors to participate in the stock market with a low entry cost. Therefore, these are a suitable choice for investors with modest budgets and lower risk-taking capabilities.

• Access to Emerging Markets

The EV industry is consistently expanding in a high-growth environment. In the near future, it is expected that the electric vehicle market will experience booming demand. This surge in the demand can lead to a huge potential for these companies to perform exceptionally well. Thus, investors with a long term vision can anticipate high profit margins on their investments.

• Portfolio Diversification

Relying on a particular asset class or industry can be risky if it underperforms. Rational investors ensure to diversify their portfolio with stocks from the EV penny stocks list. This helps them mitigate the risk arising from adversities in the financial markets, thus minimizing the potential losses.

• Convenient for Novice Investors

The EV penny stocks list provides novice investors with an affordable and convenient starting point. This is because these stocks are traded at extremely nominal prices, not requiring huge capital commitments from them.

• Contribution to Promoting Sustainability

Making investments in the EV industry provides the dual benefit of gaining financial returns and ethical satisfaction. Making contributions to sectors that promote a sustainable future provides moral fulfilment to investors, thus ensuring a long-term vision.

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Explore the best-performing EV penny stocks in India with 5-year CAGR. 

Also Read: Top Multibagger Penny Stocks For 2025 |  Potential Picks

How to Choose the Best EV Penny Stocks?

While choosing stocks among the EV penny stocks list, investors must be careful with their research and decisions. Some of the most important details to be kept in consideration are:

• Analyse Company Fundamentals

Check the company’s financial statements and analyse important ratios. A good cash flow position builds investor confidence for future prospects. Ensure that the company’s core values and business model are aligned with your financial interests.

• Consider Future Potential

Invest in EV companies that invest in proper research and development, thrive on innovation, and maintain their market reputation. These factors indicate that they are well-positioned and ready to experience exponential future growth. 

• Review Stock Valuation

Evaluate financial ratios to ensure that the long-term EV penny stock picks are not overpriced. The electric vehicle stocks under ₹100 are usually fairly priced, but one should compare them with industry averages to assess valuation.

• Factor in Market Capitalisation

It is better to choose companies that own a significant market share in the EV industry. This indicates a sound financial standing and boosts investor confidence.

Risks Associated With EV Penny Stocks

While the EV penny stocks list can seem lucrative, investors must be well aware of the risks associated with it. Some of them are mentioned below:

• High Market Volatility

Most stocks in the EV penny stocks list are extremely vulnerable to market trends. Even minor shifts in the market sentiment can lead to significant price fluctuations. These uncertainties might refrain conservative investors from investing in EV penny stocks.

• Low Investor Confidence

Investors are more likely to trust companies with strong fundamentals and good market standing. Since EV penny stock companies are not as established as large-cap companies, investors might find it hard to feel confident investing in early-stage companies.

• Intense Competition

Young companies with small market capitalisation might face intense competition from established players with a loyal customer base. With years of expertise in the market, large-cap companies have an edge over emerging companies. Hence, it can be challenging to compete with such global giants.

• Risk of Technological Developments

The EV industry in India is growing rapidly with constant innovations. If a company is relying only on a particular technology, it might face the risk caused by technological obsolescence. 

• Challenges in Fundraising

Most of the early-stage companies are either pre-revenue or operating at a loss. Moreover, future prospects of growth are also uncertain. Factors like inconsistent revenue, high levels of debt, negative cashflows, etc. might raise doubts about the future performance of the company. This might make it difficult to raise funds.

Tips for investing in EV penny stocks:

For novice investors who are looking forward to investing in some of the best stocks in the EV penny stocks list, here are some essential tips to assist them:

• Understand the EV Industry

The electric vehicle segment is extremely diversified, with a wide range of EV-related products and services being offered. Getting an overview of all the relevant diversifications helps investors have a better understanding of how the industry works. Additionally, it also assists in anticipating future price fluctuations in the EV penny stocks. A solid understanding of these factors can enable investors to make well-informed decisions.

• Take a Phased Approach

While the nominal price of the EV penny stocks in India might seem lucrative, it is important to adopt a phased approach. Investors must analyse the EV penny stocks list by using simple investment strategies and low initial investment. This ensures that the risk of incurring losses is limited.

• Pay Attention to Company Fundamentals

Researching well about the company fundamentals including the business model, sources of revenue, debt levels, etc. is extremely important. Ensuring that these fundamentals align with your investment goals can help in making well-informed and rational decisions. 

• Stay Aware of Government Policies

The EV industry in India is highly sensitive to government regulations and policies. Investors should be well aware of any policy changes made by the government in order to ensure the safety of their investments. 

• Focus on Diversification

Diversification of portfolio is a prevalent strategy to mitigate overall market risk. Investors should consider investing in different options among the EV penny stocks list. This helps in offsetting any potential losses caused by any specific EV company underperforming.

• Keep up With the Market Dynamics

The price of EV penny stocks in India can fluctuate if the financial landscape is unpredictable. It is advisable to stay updated on market news and relevant information to ensure timely decisions. 

How to Invest in EV Penny Stocks for Beginners

Investing in EV penny stocks list requires a strategic approach, yet a simple process. Follow the steps mentioned below to get started with investing in EV penny stocks:

• Step 1: The most crucial step is to complete thorough research about the EV penny stocks list. One can decide which electric vehicle stocks under ₹100 to invest in depending on personal goals and risk appetite. 
• Step 2: Open a demat account on Univest to start investing in EV Penny stocks seamlessly.
• Step 3: Select the required quantity and proceed with executing your order. 
• Step 4: Make sure to monitor market trends and adjust your portfolio accordingly.

Conclusion:

The EV industry in India is among the fastest-growing sectors in the country. As more consumers and businesses are shifting towards promoting sustainability, the demand for electric vehicles is expected to rise. This paves the way for a high-potential market with promising returns. So, investors can diversify their portfolio by including some of the best stocks from the EV penny stocks list. However, gathering proper knowledge about the industry and being aware of the risks is extremely important.

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FAQs on EV Penny Stocks

1. What are EV penny stocks?

Ans. EV penny stocks are low-priced stocks of small or mid-cap companies operating in the electric vehicle industry, usually priced below ₹100. Investing in electric vehicle stocks under ₹100 in India could offer investors exemplary returns over a longer period of time. 

2. What are the benefits of investing in EV penny stocks?

Ans. Investing in EV penny stocks offer various advantages, like diversification opportunities, low initial investment, and access to emerging markets. Moreover, these are stocks with a high potential for substantial returns.

3. What are some of the top EV penny stocks in India?

Ans. The top EV penny stocks in India include Wardwizard Innovations, Goldstar Power, Tunwal E-Motors, RattanIndia Enterprises, Ola Electrics, and more. These electric vehicle stocks under ₹100 are anticipated to offer tremendous growth potential in the Indian stock market. 

4. Are EV penny stocks risky?

Ans. Yes, cheap EV stocks can be risky as they are still in their early stages of growth. Some of the risks associated with EV penny stocks include intense competition, high market volatility, low investor confidence, and tech barriers. 

5. What are the factors affecting EV penny stocks?

Ans. Some crucial factors to consider when investing in EV penny stocks are checking company fundamentals, analysing future growth prospects, and staying updated on market trends. Investors should consider these factors so as to avoid certain losses in the Indian stock market. 

Disclaimer: This is for general information and education purposes only. The Securities quoted (if any) are for illustration only and are not recommendatory. Past performance does not guarantee any future returns. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.

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