Electric vehicle stocks, commonly referred to as EV stocks, represent ownership shares in companies actively involved in the development, manufacturing, and production of electric vehicles. In the Indian context, these companies contribute to the production of two-wheelers, buses, and cars in the expanding EV sector.
Growing interest in electric vehicles (EVs) is driven by the urgency for climate change action. With Environmental Pollution Index showing that India ranks 168 out of 180 countries; there are ambitious government plans to achieve 100% electrification by 2030.
An increased stay of electric vehicles in the market makes it particularly interesting to invest in Best EV stocks in India. The sector is poised for huge growth due to the support by the government and subsidies. An illustrative example is how Maharashtra government introduced subsidies that led to highest ever sales of EVs in 2017.
The EV market has vast growth prospects and opportunities. The probable rise in stock prices as a result of increased government focus on promoting electric vehicles can provide investors with attractive returns.
1. Reliance Industries Ltd.
2. TVS Motor Company Ltd.
3. Tata Motors Ltd.
4. Indian Oil Corporations Ltd.
5. Mahindra and Mahindra Ltd.
6. Tata Power Ltd
Organizations engaged in assembling electric cars fall into this classification. Notable actors include Tata Motors, Mahindra Electrics, and Hero Electric. Their strong presence on the exchange floor stems from their holistic method of assembling EVs by sourcing components from diverse companies and makers.
Producers crafting power packs for electric vehicles constitute a pivotal division. Establishments like Amara Raja Batteries, Exide Industries, Tata Group, Hero Moto Corp, and Maruti Suzuki are important players to watch, as their names regularly surface on lists of electric automobile stocks.
Companies involved in developing programming and electronics for EVs, as well as crafting spare parts, comprise this division. Motherson Sumi Systems Limited and Tata ELXSI Limited are esteemed names among the best stocks in the electric automobile sector.