Best Electric Vehicle Stocks in India
With the onset of the Electric Vehicle revolution in India, Indian traders have kept an eye on the companies whose stocks will benefit them with this surge. Since the beginning of the country’s shift to Electric mobility, electric vehicle stocks in India are burgeoning. The Indian Government aims to run our country 100% electric in terms of mobility by the next decade. The Government also came up with certain policies and schemes to encourage Indian merchants for investing in Electric Vehicle manufacturers. FAME II (Faster Adoption and Manufacture of Electric Vehicles) and the National Electric Mobility Mission aim to increase the number of electric vehicles in India and advancements in EV technology.
Due to the Covid pandemic, the recent lockdown made us realize the need for an EV nation when the alarming pollution levels were significantly reduced. This boost in the public and Government’s interest in sustainable mobility hints at the onset of the green revolution in India. With the recent sudden hike in oil, Indians have considered adopting an alternative way of cheaper and cleaner mobility. Thus, 2021 is the high time to Buy Electric Vehicle penny Stocks when we are at the cusp of EV transformation.
The launch of global EV giant Tesla, led by Elon Musk, in India marked a new era in the EV industry of the country. This will also give rise to the electric vehicle-related stocks in India and the electric vehicle battery manufacturer’s stocks in India.
Industries to Benefit from Electric Vehicles in India
Battery Manufacturing Industry
Electric vehicles run on rechargeable lithium-ion batteries. So, the main component in EVs is a Li-ion battery. This particular industry will see tremendous growth in the future. A recent study showed that if global sales of EVs touch 8 million vehicles, as much as 60 billion dollars worth of batteries will have to be sold to cater to this volume.
To make EVs more efficient, considering that less energy is consumed while using, the components of these vehicles are made from lightweight and high-quality plastic or fiber. Try finding industries that supply raw materials to make up for the bodyworks in an EV. Companies that produce high-quality plastics may get a boost.
The rise in Electric vehicles will require more power consumption. Power generation companies or DISCOM are a major lookout for the stocks in the upcoming years. Every EV is effectively a new consumer for the Electricity distribution company. Power distribution companies in big states like Gujarat, Uttarakhand, and Andhra Pradesh are predicted to grow.
Transportation played an essential role in recent revolutions. The advent of apps such as Uber, Ola, Lyft has transformed the way people traverse. Eco-friendly cars, trucks, and buses would seek to integrate themselves within these recent apps and provide a sustainable platform. Conventional vehicles run on oil. The EV industry will impact the crude oil prices and the Middle Eastern countries. The Government has started e-rickshaws and e-buses in many states. When it comes to public transport, green vehicles require minimum maintenance, thus saving local governments money.
Delivery Services and Logistic Industries
Today, delivery businesses are some of the biggest polluters in the world as the retail economy forms around them. From Zomato to Amazon, many big enterprises may become an integral part of this green revolution. There are many ways a delivery company can begin to reduce its carbon footprint over the next couple of years. Delivery companies are now adopting customized electric vehicles to complete the last leg of parcel drop-offs to customers and businesses, ultimately benefitting the EV companies. Mahindra Logistics reconsidered its supply chain and is planning to deploy electric vehicles for last-mile delivery.
The company plans to save a lot with this reconsideration. Swedish furniture retailer Ikea, which has recently set foot in India, and online grocery store, Bigbasket, also plan on using EVs for the last mile.
Top Electric Vehicle Stocks to Buy in India 2021
Here is the list of Four-wheeler and Two-wheeler Stocks in India
- Tata Motors Limited
- Mahindra and Mahindra Limited
- Maruti Suzuki India Ltd
- Hero MotoCorp Limited
Tata Motors Limited
Tata Motors has been quite vocal in the EV sector. It has recently made a separate entity of its passenger vehicle business. The company focuses on passenger vehicles and electric buses in India. They currently have three 4-wheeler EVs (Tigor EV, Nano EV, Tiago Variants) running in the passenger vehicles segment. Tata even supplies e-buses to the state governments and predicts the supply to grow by 4 lakh e-buses. They have recently launched Tata Nexon, priced around 16 to 17lakhs, one of the most affordable Electric cars in the Indian market. Demand has been increasing for the Tata EVs.
Mahindra and Mahindra Limited
Mahindra and Mahindra are pioneers of EV in India. They were the first EV manufacturer in India to release an Electric car (Mahindra Reva) back in 2001. They have 5 Electric cars in production right now, the popular one being E-verito. E-verito is used by a lot of cab aggregators. The company also launched E-KUV 100 in the mid-market segment and the company had sold 14500 Evs in FY 2020. The company is also in talks with global EV manufacturers to provide automotive components. Mahindra & Mahindra Limited company stocks can be a great opportunity to invest now.
Maruti Suzuki India Ltd
Currently, the Maruti Suzuki is the largest producer of automobiles in India. However, it hasn’t launched any of the EVs of its own. When the company launches its first electric car, the company’s stock prices are predicted to touch the skies. The company is going to launch its iconic Maruti Suzuki wagon R’s electric version in the second half of 2021. The company also plans to set up many electric power stations across India. This stock is considered a safer stock as compared to Mahindra and Tata.
Hero MotoCorp Limited
Hero MotoCorp Ltd. is the world’s largest manufacturer of the two-wheeler segment. It has a 34.58% stake in a Bangalore-based EV startup, Ather Energy. Ather Energy has its new scooter plant in Hosur, Tamil Nadu, and has invested more than 630 Crores in its startup. The plant spreads around 4 lakh square feet and has already started selling its scooters in Bangalore. Hero MotoCorp has betted on the two-wheeler EV segment which no large company has done till now. Ather Energy has its two-wheelers priced above 1 lakh.
Top Battery Manufacturing Stocks In India
Here is the list of Top Battery Manufacturing Stocks in India
- Amara raja batteries
- Exide Industries Ltd.
- Himadri Speciality Chemical Ltd
Amara Raja Batteries
As batteries are the major component of electric vehicles, the battery game can be considered one of India’s top electric vehicle stocks.
Amara Raja is currently building a lithium-ion assembly plant to tap into the EV segment. The company is in the process of building a 100 megawatt per hour assembly plant in Andhra Pradesh. Amara Raja has planned to set up charging stations in collaboration with the Delhi Government.
Exide Industries Ltd.
Who hasn’t heard about this leading manufacturer of Automobile batteries? Exide has formed a 75%-25% joint venture with a Switzerland-based company in June 2019. The company is building a production plant in Gujarat to make Li-ion batteries and to make an efficient energy storage system.
Himadri Speciality Chemical Ltd
Primarily, Himadri Speciality Chemical is involved in the manufacturing of Carbon materials and chemicals. The company is aimed at manufacturing anodes for lithium-ion batteries- the main component of electric vehicles. There will be a great demand for anode material for the manufacture of Li-ion batteries.
Recently, they have formed a new company called Motovolt Mobility Pvt. Ltd. and have invested around 100 crores. They have ventured to manufacture battery-powered e-cycles.
Top Electric Vehicle Charging Station Stocks
Tata Power Company Limited
The electric utility company- Tata Power is a part of the Tata Group which is generated and distributes electricity (a DISCOM). Tata has already installed around 170 EV charging points across India. Tata Power has deployed EV charging stations in over 20 cities in India which includes Mumbai, Bangalore, Pune, Hyderabad, Chennai, Kolkata. The company aims to be the largest electric vehicle charging station provider in India by 2030. Let’s keep an eye on this electric vehicle stock too.
Some Other Electric Vehicle Stocks in India to keep an eye on:
Four-wheeler and Two-wheeler EVs Stocks
- Olectra Greentech Ltd
- Ashok Leyland Ltd
- JBM Auto
- Ok Play India
Raw Material Manufacturing Company
- Hindustan Copper
- Rain Industry
Lithium-ion Battery Manufacturing Company
- High Energy Batteries (India) Ltd
- Tata Chemicals Limited
- Graphite India Ltd
- Reliance Industries
- Tata Chemicals
EV Charging Infrastructure Setup Company
- Power Grid Corporation of India Limited
- Indian Oil Corporation Ltd
- NTPC Ltd
Auto Parts Manufacturing Company
- Motherson Sumi Systems Ltd
- Minda Industries Ltd.
- Sundaram Fasteners
- Endurance Technologies Ltd.
With the shift to greener mobility in India, many other sectors are going to get benefited from the electric vehicle revolution. 2021 is the high time to buy electric vehicle stocks when we are at the cusp of EV transformation.