Best Electric Vehicle/EV Stocks to Invest in India (2024)

Last Updated on Jan 31, 2024 by Anjali Chourasiya

The Indian EV market is on an impressive growth trajectory, expected to skyrocket from US$2 billion in 2023 to US$7.09 billion by 2025, aiming for 10 mn annual sales by 2030. Despite electric vehicles (EVs) making up only 1.3% of car sales in 2022, the sector’s potential is vast, with over a million EVs sold in FY 2022-2023 and projections pointing to a $113.99 bn market by 2029. This growth highlights the increasing interest in EV stocks in India, spanning from manufacturers like Tata Motors to battery giants like Exide Industries and infrastructure specialists like Power Grid Corporation. 

In this article, let’s dive into the best EV stocks in India based on multiple factors, how they are invested in the electric vehicles sector, features of best EV companies, overview of EV sector in India, how to invest in the EV companies in India, and more.

Best EV stocks in India (2024)

Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio 1Y Return (%)
Himadri Speciality Chemical Ltd Commodity Chemicals 17,471.78 372.10 80.90 313.44
Servotech Power Systems Ltd Electrical Components & Equipments 1,745.00 81.10 157.63 284.27
JBM Auto Ltd Auto Parts 21,884.00 1,849.35 175.94 246.00
Hindustan Copper Ltd Mining – Copper 26,462.61 281.95 89.56 121.40
KPIT Technologies Ltd IT Services & Consulting 40,847.55 1,415.45 107.21 100.21
Tata Motors Ltd Four Wheelers 296,789.33 811.85 122.93 93.74
Exide Industries Ltd Batteries 26,800.50 310.40 32.58 70.36
Hero MotoCorp Ltd Two Wheelers 88,622.97 4,442.15 31.54 59.50
Graphite India Ltd Electrical Components & Equipments 10,303.13 530.25 51.68 48.95
Amara Raja Batteries Ltd Batteries 13,659.88 813.10 19.67 43.96
Mahindra and Mahindra Ltd Four Wheelers 194,942.55 1,635.50 18.96 24.70
Motherson Sumi Wiring India Ltd Cables 27,278.24 60.95 56.01 19.86
Greaves Cotton Ltd Industrial Machinery 3,815.24 164.80 48.89 16.76
Ashok Leyland Ltd Trucks & Buses 50,090.33 169.75 40.37 15.99
Hindalco Industries Ltd Metals – Aluminium 126,403.86 567.20 12.52 15.97
Maruti Suzuki India Ltd Four Wheelers 314,031.58 9,881.00 38.25 12.49
Tata Chemicals Ltd Diversified Chemicals 25,930.37 1,005.65 11.19 5.81
Vedanta Ltd Metals – Diversified 97,533.29 263.60 9.22 -19.52

Note: The data is from 25th January 2024, and the top EV companies in India are sorted according to their 1-yr return.

Details of the top EV companies in India

Himadri Speciality Chemical Ltd

Specialising in chemical manufacturing, Himadri produces materials used in lithium-ion batteries. Their contributions are crucial for the development of long-lasting and efficient EV batteries. In December 2023, the company announced that it would invest Rs. 4,800 cr. to foray into the manufacturing of Lithium-ion battery components. According to the announcement, the investment will last 5-6 yrs. 

Servotech Power Systems Ltd

Servotech Power Systems, based in India, specialises in solar product manufacturing and distribution. The company is expanding into the GCC region with a new facility and is also establishing an EV plant in Uttar Pradesh, aiming for an annual output of 10,000 EV DC chargers. This move, supported by a Rs. 3 bn investment, is set to bolster manufacturing and R&D efforts, including the issuance of Rs. 750.6 mn in warrants for these purposes. 

Servotech has filed two patents for innovative EV charger technology, enhancing fast charging capabilities. Furthermore, the company plans to engage with universities and IITs for innovation and aims to set up 5,000 charging stations through its subsidiary, Servotech EV Infra, within 2-3 years, building on its strong presence among OMCs and OEMs and looking to expand its network.

JBM Auto Ltd

With a market capitalisation of Rs. 21,884 cr, JBM is one of the biggest electric bus manufacturers. The company is actively involved in manufacturing electric buses and related components, contributing to the eco-friendly public transportation ecosystem in India. JBM Auto also act as a charge point operator, establishing EV charging sites for cab aggregators across the major cities in India.

Hindustan Copper Ltd

Copper is essential for electric vehicles, especially in motors and wiring. Hindustan Copper’s role in providing this vital metal supports the growth and efficiency of the EV industry. In 2019, the company formed strategic joint ventures named Khanij Bidesh India Ltd (KABIL) with two other PSU companies, NALCO and Mineral Exploration Corporation Limited (MECL). On 15th January 2024, KABIL signed an agreement with Argentina’s CAMYEN SE to explore and develop five lithium mines. 

KPIT Technologies Ltd

KPIT Technologies, specialising in IT solutions for the automotive sector, introduced a groundbreaking sodium-ion battery technology on 12th December 2023. Developed over eight years, this innovation, a first in India and fourth globally, promises a more accessible and cost-effective energy storage solution. Distinct from typical software engineering projects, this initiative involved electrochemists to perfect the technology, offering rapid vehicle charging and reducing battery costs by up to 30%. 

Currently, in the external testing phase, KPIT aims to commercialise the technology within a year, targeting both automotive clients and other sectors interested in energy storage. Plans include expanding into European and East Asian markets and exploring strategic partnerships and acquisitions to enhance its technology offerings and market presence.

Tata Motors Ltd

A frontrunner in India’s EV market, Tata Motors has already launched several electric models, such as the Nexon EV and Tigor EV. Their commitment to expanding the EV infrastructure and portfolio underlines Tata’s significant role in the electrification of Indian roads. The company expects sales to reach 65,000-70,000 units in 2024, marking a growth rate of 60% to 70%. The company also aims to introduce electric vehicles with a higher range of 600 km on a single charge.

Exide Industries Ltd

This company is well-known for manufacturing batteries used in regular vehicles. Now, they have stepped into the manufacturing of EV-specific batteries. The company is strategically positioned to meet the rising demand in the EV sector by investing ₹60 billion in a phased manner to establish a 12 GWh Li-Ion cell plant. Recently, the EV share hit a new high following a Rs. 400 mn investment in its fully-owned subsidiary, Exide Energy Solution Ltd. 

In November 2023, Exide Industries, a leading battery manufacturer, resolved a protracted trademark dispute concerning the ‘CHLORIDE’ mark in India. The Delhi High Court formalised a Settlement Agreement between Exide Industries Ltd, Vertiv Company Group UK (formerly Chloride Group Ltd), and Vertiv Energy India. Under this agreement, Vertiv acknowledged Exide Industries’ exclusive rights to the CHLORIDE trademark and its variants in India, agreeing to cease its use and withdraw any claims to the mark. This resolution has contributed positively to Exide Industries’ stock momentum.

Hero MotoCorp Ltd

Hero MotoCorp Ltd, the world’s largest manufacturer of motorcycles and scooters, plans to launch three electric two-wheelers in the mass market in FY 2025 to strengthen its portfolio. Further, In a groundbreaking move for India’s electric vehicle (EV) industry, Ather Energy and Hero MotoCorp have announced a strategic partnership to create the country’s largest fast-charging network. The combined network will comprise over 1,900 fast-charging points across 100 cities in India, making it the largest of its kind for electric two-wheelers anywhere in the world.

Graphite India Ltd

Graphite India plays a significant role in providing graphite electrodes, which are used in batteries and other components of EVs. Their products are essential for the performance and longevity of electric vehicles. The company has invested Rs. 50 cr. in Godi India Private Ltd for a 31% stake, as per a recent press release. Godi India, supported by Blue Ashva Capital, specialises in sustainable battery technology for electric vehicles (EVs) and energy storage, including Lithium-ion, Sodium ion, and Solid-State batteries. The company employs eco-friendly processes such as Aqueous Electrode ProcessingTM and is committed to achieving net-zero carbon by 2040. This investment aligns with Graphite India’s diversification strategy into advanced battery technologies, marking a significant step towards innovation and expansion in the high-growth EV and energy storage sectors.

Amara Raja Batteries Ltd

Amara Raja Batteries Ltd, a leading name in India’s storage battery market and second only to Exide Industries, has expanded into the EV sector. Through its new energy division, the company is focusing on lithium cells and packs, EV chargers, and energy storage solutions. In FY 2023, it launched Amara Raja Advanced Cell Technologies (ARACT) to innovate cell chemistries for Indian climates and supply battery packs and chargers for EVs, particularly two- and three-wheelers. 

Additionally, Amara Raja is setting up a significant lithium-ion cell and battery pack plant in Telangana, planning a 16 GWH capacity with a Rs. 95 bn investment over a decade. While the new energy division’s contribution to revenue is currently small, it is projected to triple to Rs. 7.5 bn in FY24 as the company begins supplying to the electric two-wheeler market.

Mahindra and Mahindra Ltd

Mahindra & Mahindra is one of India’s leading automotive manufacturers in the country. The company has a strong presence in the EV segment, with offerings like the e-Verito and e2o. They are also investing heavily in next-generation EV technologies and infrastructure. 

The company is gearing up for a significant shift in its production strategy. The company plans to transition 30% of its overall auto manufacturing to electric vehicles (EVs) by the financial year 2027. This ambitious move is driven by the company’s commitment to sustainability goals and the need to stay competitive in the rapidly growing EV market.

Motherson Sumi Wiring India Ltd (MSUMI)

MSUMI Ltd, holding over 40% market share, leads India’s wiring harness industry, with 95%+ revenue from the domestic market, heavily reliant on the Indian Passenger Vehicle (PV) industry for growth. As the automotive sector evolves with trends like electrification and premiumisation, MSUMI’s expertise in cost-efficient wiring harnesses positions it to benefit from increased wiring content per vehicle, especially as EVs demand double the wiring of ICE vehicles. 

To cater to this, MSUMI has launched a dedicated line in Chennai for high-voltage harnesses aimed at EVs and hybrids across PV, CV, and two-wheeler segments. With wiring harnesses accounting for approximately 1.75-2.25% of a vehicle’s value, high and mid-end UV sales are expected to drive market growth.

Greaves Cotton Ltd

Greaves Electric Mobility Private Limited (GEMPL), the electric mobility business of Greaves Cotton Limited (GCL), is a leading player in the Electric Vehicle (EV) technology industry in India. The company has made more than 200,000 secondary sales of its “Ampere” brand electric 2-wheelers as of Q1 FY 2023- 2024. 

Further, Greaves Finance Limited, a subsidiary of Greaves Cotton Ltd and a non-banking financial company (NBFC), has partnered with ElectricPe, an EV solutions provider, through its electric vehicle ownership platform evfin, to improve access to EV ownership. This collaboration offers ElectricPe customers access to customised financing solutions from Greaves Finance, catering to their individual needs and preferences.

Ashok Leyland Ltd

Ashok Leyland Ltd, a leading commercial vehicle manufacturer, is positive about its IeV series of electric light commercial vehicles (e-LCVs), receiving 10,000 bookings in November 2023, shortly after unveiling it in September 2023. The company plans to launch these electric LCVs in the fourth quarter of the current fiscal year. Developed by Switch Mobility, Ashok Leyland’s EV division, the IeV 3 and IeV 4 models are crafted for eco-friendly last-mile transport solutions. Known as ‘twin brothers’, these vehicles feature a 330 V high voltage EV architecture and provide substantial cargo space, set to be manufactured at the Hosur facility with a project cost of around Rs 100 crore. 

Additionally, Ashok Leyland has committed to a Rs. 1,200 cr. investment in Switch Mobility to support capital expenditure, R&D, and operations in the UK and India, aiming to enhance investor confidence in its EV offerings.

Hindalco Industries Ltd

Hindalco Industries, a leading Indian aluminium and copper manufacturer under the Aditya Birla Group, is the largest global player in aluminium rolling and recycling and a key copper producer. Venturing into the EV market, Hindalco announced a Rs. 8 bn investment on 12th December 2023 to establish a battery aluminium foil manufacturing facility in Odisha, aiming to tap into the electric mobility sector. This facility, set to start by July 2025, will have a production capacity of 25,000 tonnes and be powered by solar energy, aligning with the expected national demand of 40,000 tonnes for battery-grade aluminium foil by 2030. 

With a focus on exports and serving both domestic and international markets, Hindalco is also exploring collaborations with lithium-ion cell manufacturers globally and has signed an MoU with Phinergy and IOC Phinergy to develop aluminium-air batteries. The company’s strategy includes downstream expansion in India to boost profitability through value-added products alongside sustained growth in its copper business.

Maruti Suzuki India Ltd

Maruti Suzuki is set to enter the electric vehicle (EV) market with a new electric hatchback, targeting a launch by 2026- 2027 to compete with Tata Motors’ Tiago EV in the compact EV segment. This upcoming EV will be based on Suzuki’s eWX concept introduced at the Japan Mobility Show in 2023, highlighting Maruti Suzuki’s ambition to electrify the compact vehicle market and challenge the popular Tiago EV. With an investment exceeding Rs. 10,000 cr. With the aim of localising EV production, Maruti Suzuki aims to make electric vehicles more affordable for Indian consumers and plans to reach an annual sales goal of half a million EVs by FY 2031.

Tata Chemicals Ltd

Tata Chemicals is playing a crucial role in the Tata Group’s ambitious foray into the electric vehicle (EV) sector, highlighting India’s growing prominence in sustainable mobility. This aligns with the Tata Group’s broader vision under Ratan Tata’s leadership, which has seen significant expansion into new industries, including electric mobility. Tata Chemicals’ involvement is particularly noteworthy with its recent MoU with the Gujarat government to establish a 20-gigawatt lithium-ion cell manufacturing unit, underscoring its pivotal position in the EV ecosystem. 

The company’s market cap stands at Rs. 266.45 bn, reflecting a robust sales growth of 17.5% over the last three years. For FY 2023, Tata Chemicals reported a substantial net profit of Rs. 24.34 bn, a 73% increase from the previous year. With ongoing expansions and a projected investment of Rs. 29 bn to enhance capacity, Tata Chemicals is set to contribute significantly to India’s EV ambitions, aiming to make electric mobility more affordable and sustainable while reducing the country’s carbon footprint.

Vedanta Ltd

Vedanta Aluminium, a Vedanta Ltd business and India’s top aluminium producer, significantly contributes to the EV sector with its specialised, sustainable aluminium products. The company’s offerings, designed for the automotive industry, include low carbon ‘green’ aluminium, enhancing EVs’ efficiency and reducing their environmental impact. 

Vedanta’s commitment to sustainability is evident in its offering of low carbon, ‘green’ aluminium products, Restora and Restora Ultra, aimed at reducing the carbon footprint across automotive value chains. With certifications from the Bureau of Indian Standards (BIS) and the Environmental Product Declaration (EPD), Vedanta Aluminium is recognised for its quality and sustainability efforts, supporting the EV industry’s expansion and driving towards a greener future.

Best EV stocks in India – Based on highest daily volume

Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio Daily Volume
Hindustan Copper Ltd Mining – Copper 26,462.61 281.95 89.56 19,879,601.00
Ashok Leyland Ltd Trucks & Buses 50,090.33 169.75 40.37 10,840,926.00
Tata Motors Ltd Four Wheelers 296,789.33 811.85 122.93 10,109,720.00
Motherson Sumi Wiring India Ltd Cables 27,278.24 60.95 56.01 6,365,883.00
Hindalco Industries Ltd Metals – Aluminium 126,403.86 567.20 12.52 5,366,990.00
Vedanta Ltd Metals – Diversified 97,533.29 263.60 9.22 5,195,068.00
KPIT Technologies Ltd IT Services & Consulting 40,847.55 1,415.45 107.21 3,520,645.00
Exide Industries Ltd Batteries 26,800.50 310.40 32.58 3,275,873.00
Mahindra and Mahindra Ltd Four Wheelers 194,942.55 1,635.50 18.96 2,038,472.00
Greaves Cotton Ltd Industrial Machinery 3,815.24 164.80 48.89 1,625,697.00

Note: The data is from 25th January 2024, and the top EV companies in India are sorted according to the highest daily volume.

EV penny stocks India (2024)

Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio
Motherson Sumi Wiring India Ltd Cables 27,278.24 60.95 56.01
Servotech Power Systems Ltd Electrical Components & Equipments 1,745.00 81.10 157.63
Greaves Cotton Ltd Industrial Machinery 3,815.24 164.80 48.89
Ashok Leyland Ltd Trucks & Buses 50,090.33 169.75 40.37
Vedanta Ltd Metals – Diversified 97,533.29 263.60 9.22
Hindustan Copper Ltd Mining – Copper 26,462.61 281.95 89.56
Exide Industries Ltd Batteries 26,800.50 310.40 32.58
Himadri Speciality Chemical Ltd Commodity Chemicals 17,471.78 372.10 80.90
Graphite India Ltd Electrical Components & Equipments 10,303.13 530.25 51.68
Hindalco Industries Ltd Metals – Aluminium 126,403.86 567.20 12.52

Note: The data is from 25th January 2024, and the Indian EV penny stocks are sorted from lowest EV share price to highest.

Top EV companies in India – Based on ROI

Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio 5Y Return on Investment (%)
Hero MotoCorp Ltd Two Wheelers 88,622.97 4,442.15 31.54 19.94
Exide Industries Ltd Batteries 26,800.50 310.40 32.58 17.38
Graphite India Ltd Electrical Components & Equipments 10,303.13 530.25 51.68 14.76
Amara Raja Batteries Ltd Batteries 13,659.88 813.10 19.67 14.45
KPIT Technologies Ltd IT Services & Consulting 40,847.55 1,415.45 107.21 14.07
Tata Chemicals Ltd Diversified Chemicals 25,930.37 1,005.65 11.19 12.07
Maruti Suzuki India Ltd Four Wheelers 314,031.58 9,881.00 38.25 11.41
Vedanta Ltd Metals – Diversified 97,533.29 263.60 9.22 10.36
JBM Auto Ltd Auto Parts 21,884.00 1,849.35 175.94 9.39
Himadri Speciality Chemical Ltd Commodity Chemicals 17,471.78 372.10 80.90 9.15

Note: The data is from 25th January 2024, and the list of top 10 EV companies in India are sorted from highest 5-yr return on investment to lowest.

Features of best EV stocks in India

When evaluating the best EV (Electric Vehicle) stocks in India, investors should focus on several key features that signal a company’s growth potential and stability in the evolving EV sector. Here are the essential features to look for:

  • Innovative product lineup: A diverse and innovative range of EV products, including various vehicle types, that meet consumer needs and preferences.
  • Advanced technology adoption: Emphasis on adopting and developing advanced technologies for battery management, electric drivetrains, and vehicle software to enhance efficiency and performance.
  • Scalable manufacturing infrastructure: Robust manufacturing capabilities that can efficiently scale up to meet increasing demand for EVs, including the capacity for in-house component production.
  • Strategic industry partnerships: Collaborations with tech firms, battery manufacturers, and other automakers to share knowledge, resources, and market access, strengthening the company’s position in the EV ecosystem.
  • Government policy support: Companies that stand to benefit from government incentives, subsidies, and supportive policies aimed at accelerating EV adoption.
  • Solid financials: Strong financial health characterised by steady revenue growth, profitability, and the ability to invest in research, development, and expansion efforts.
  • Commitment to R&D: Ongoing investment in research and development to drive technological advancements and maintain a competitive edge in the market.
  • Sustainability practices: Active engagement in sustainability and environmental responsibility, including efforts to minimise the environmental impact of production and operations.
  • Extensive service network: A widespread service and charging infrastructure to support EV owners, enhancing the user experience and encouraging wider adoption.
  • Global market presence: Potential and strategies for tapping into international markets, expanding the company’s reach beyond domestic boundaries.
  • Adaptability: Flexibility and adaptability to rapidly changing technology trends and consumer demands, ensuring long-term relevance and success in the EV market.

Electric vehicles growth in India 

Once considered a distant dream, electric vehicles have emerged as one of the fastest-growing segments in India’s automotive sector by 2023. This shift is propelled by evolving public perception, heightened awareness of pollution from internal combustion engine vehicles, and the introduction of more desirable and efficient EV models. 

Since 2021, India has witnessed a steady increase in EV adoption, with sales skyrocketing by 82% in March 2023 alone, reaching 1,39,789 units compared to the previous year. The fiscal year 2023 saw an impressive 157% growth in overall sales, totaling 11,80,597 units, driven predominantly by electric two-wheelers. Leading this segment are Ola Electric, TVS Electric, and Ather Energy, maintaining robust sales despite subsidy reductions under the FAME 2 scheme. 

The electric four-wheeler market is also on the rise, with a notable 178% increase in registrations in 2022 and a 41.5% month-on-month sales boost in 2023. Tata Motors leads this space, commanding a significant market share, followed by MG Motor and Mahindra. Luxury EVs, too, are gaining traction, with BMW India leading the luxury segment.

The overall EV market, although still a small fraction of India’s total automotive sector, is poised for substantial growth, expected to grow by 49%, compounded annually by 2030. And the sales may cross 17 mn annually in the next 7 yrs. With plans for new entries by global brands and an uptick in commercial electric three-wheelers, India is steadily advancing towards a net-zero carbon emissions future, underscoring the nation’s commitment to electrification across various sectors.

How to invest in Electric Vehicle (EV) stocks in India? 

Identifying the best EV stock in India involves looking at various metrics and features that indicate a company’s potential for growth, sustainability, and profitability in the burgeoning EV market. Here are some key features to consider when evaluating the best EV stock in India:

Strong Product Portfolio: The company should have a diverse range of EV products, including passenger vehicles, commercial vehicles, two-wheelers, and three-wheelers, catering to different segments of the market. This broad spectrum ensures the company addresses the varied needs and preferences across different market segments, providing solutions for every type of consumer seeking to transition to electric mobility.

Innovative Technology: Investing in the forefront of EV technology sets a company apart. This includes the development and incorporation of state-of-the-art battery systems, high-efficiency powertrains, and sophisticated software for enhanced autonomous and connected driving experiences. Such technological advancements not only improve vehicle performance but also ensure safety, reliability, and user-friendliness, positioning the company as a leader in innovation. 

Robust Supply Chain and Manufacturing Capabilities: The backbone of a successful EV company is its robust supply chain and adaptable manufacturing capabilities. Having a reliable source of essential EV components and a flexible manufacturing system allows for scalability in production to meet the escalating demand for electric vehicles. This ensures timely delivery of high-quality products to the market, reinforcing the company’s competitive edge.

Financial Health: A strong financial foundation is crucial for sustaining and growing in the competitive EV market. Healthy revenue streams, profitability, and positive cash flow enable continuous investment in research and development, as well as strategic expansion efforts. To dive deep into any company’s financials, use Tickertape Asset pages to analyse the financials of a company. The pages are also equipped with insights from experts and a Scorecard. Check out Himadri Speciality Chemical Ltd.

Sustainability Initiatives: A commitment to environmental sustainability is at the heart of a forward-thinking EV company. This is achieved through the utilisation of renewable energy sources in manufacturing processes and a concerted effort to minimise the carbon footprint of its products and operations. Such initiatives not only contribute to the planet’s well-being but also resonate with eco-conscious consumers.

Customer Base and Network: Maintaining a wide-reaching customer base and an extensive network for service and charging is essential for fostering customer satisfaction and loyalty. A company that offers accessible, reliable support and charging infrastructure ensures a seamless and convenient user experience, encouraging more people to adopt electric vehicles.

Export Potential: The capacity to not only serve the domestic market but also to venture into international markets is indicative of a company’s global appeal and the universal relevance of its products. Tapping into the global demand for EVs opens up new avenues for growth and diversification, enhancing the company’s resilience and potential for innovation.

Along with looking at all these factors, a thorough analysis of the stock is worthwhile before adding it to your portfolio. For this purpose, Tickertape provides you with comprehensive research, analysis, and investing tools. With Tickertape Stock Screener, you can list stocks based on your preferred criteria. There are over 200 filters for you to choose from, along with pre-built screens, which make your analysis faster.

Further, the Scorecard on every asset page helps you dive deeper into the stock and analyse the stock based on quantitative factors such as profitability, performance, entry and exit points, valuation, and growth and provides a sneak peek into the potential red flags in the stock. 

Research, analyse, and invest quicker than before, because #TickertapeHaiNa! Become a Pro Member now!

To wrap up

The electric vehicle (EV) sector in India is rapidly expanding, bringing lots of opportunities for people looking to invest. However, the dynamic nature of this sector, characterised by swift technological evolutions and regulatory changes, underscores the importance of conducting thorough research prior to making any investment decisions. By being careful and making informed choices, you can make the most out of the growing EV market in India and help support a cleaner environment.

FAQs about EV stocks in India

1. Which companies in India are providing 2-wheeler electric vehicles?

There are several 2-wheeler manufacturers in India that are providing electric vehicles. Some well-known names are Hero Electric, Okinawa, Ampere, Ather, PUREV, Ola, TVS, Revolt, Benling, Bajaj and many more.

2. Which companies in India are providing 4-wheeler electric vehicles?  

There are several 4-wheeler manufacturers in India that are providing electric vehicles. Tata Motors, Mahindra Electric, Hyundai, and Ultraviolette Automotive are well-known names and more.

3. What are the EV battery stocks in India?  

4. What are the EV charging station stocks in India? 

Some EV charging stocks in India are TATA Power Company Ltd, Power Grid Corporation of India Ltd, Indian Oil Corporation Ltd (IOCL), etc. 

5. Who should invest in EV sector Stocks?

Stocks in the EV sector are a good match for investors drawn to green technology and long-term growth prospects and who are aware of the risks involved. It’s important to make sure these investments fit with your own goals and how much risk you’re willing to take. Before putting your money into these stocks, carefully assess your risk-appetite and investment goals. 

Anjali Chourasiya
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