If you want know in detail about Stocks, teamautoexpert will help you to and guide you in proper manner. When it comes to to transport, new technologies keeping poping up around the world. These alternative technologies in transport are mainly based on around Electric Vehicle with many companies jumping to get some traction before the industry gets radial shift away from tradition fossil fuels. This changes can also be seen as a catchup that existing companies are trying to play in the EV segment with companies like Tesla and the bars set by them before it’s to late. Today, we take a look at electric vehicle segment in India and the best Electric Vehicle Stock in India for Investors.
Electric Vehicle Stocks In India :
Why Electric Vehicle and What Is the Plan Ahead?
One of the major reasons that why countries are forced into adopting an Electric is to change the climate. and according to Environmental pollution report India ranks at higher level for air quality. The aim set by the Government has been 100% electrification by 2030. This is a big target considering the early stages of adopting that we currently are in. The elctric vehicle adopting rate in India is less than 1%. India has barely sold more than 8000 electric vehicles. If compared to countries like China these sales figures are achived in less than 2 days.
Some state Govt realizing their role have tried to eracdicate one of the major barriers to owing an EV. This can be seen in the example of Maharashtra where subsidies were announced to 1lakh for electric vehicles. Consequently, Maharashtra had the highest sales volume since 2017 in the Indian electric car market. The govt has also realized that it is the best to target its efforts toward the public transport system in the initial stages. This is because the purchase of EV in the private sector will depend on major other factors like attractiveness. The public transport system being one of the most heavily used in country like india will definitely offer a huge boost to the sector.
Top EV Stocks In India-Leading Vehicle Manufacturers:
The Indian EV industry being in its nascent stages does not have an established market leader in all vehicle types. There are 10+ major players existing in the 2-wheeler segment, 3-4 in Electric buses, and a few in car manufacturing. The following are the top Electric Vehicle (EV) Manufacturers in India:
Top Electric Vehicle Manufacturers-
Mahindra Electric:
Mahindra is the pioneer of EV in the Indian space. Being the first major EV manufacturer it launched Mahindra Reva, its first EV as early as 2001. The Mahindra Reva was India’s first electric car. Over the years Mahindra has gone ahead to set up a dedicated R&D center in Bengaluru.
Some of its other EV variants include the Mahindra E20 and eVerito. Mahindra, however, has focussed on the manufacture of EVs and battery packs and has partnered with various institutions to boost EV charging.
Ashok Leyland:
Ashok Leyland, the Hinduja Group’s flagship company, is the 4th largest bus manufacturer in the world and a market leader for trucks in India. The company has tied up with Sun Mobility in order to enhance its expertise in the vehicle domain.
Ashok Leyland designs electric variants specifically for Indian conditions and has also introduced battery swapping in electric buses to address e-mobility needs in the country. It has launched multiple electric bus variants like the Circuit, HYBUS, and Electric Euro 6 Truck, and announced the iBUS. The immediate focus of the company, however, is currently on giving more thrust to exports.
Tata Motors:
In India, Tata Motors has an industrial joint venture with Fiat. One of Tata’s major benefits has been its ability to use resources from around the world. Tata’s innovation efforts are focused on developing auto technologies that are sustainable as well as suited. With design and R&D centers located in India, the UK, Italy, and Korea. Tata Motors in collaboration with its subsidiary, the UK-based Tata Motors European Technical Centre (TMETC), is looking to have a major play in the EVs market in India. When it comes to EVs, Tata has focussed on the Passenger Vehicles and Electric Buses market in India.
When it comes to four-wheelers Tata offers 4 vehicles to pick from. The Nexon EV, Tigor EV, Nano EV, and the Tiago electric variant. In the Electric bus segment, Tata expects its demand from State transport Unions. The expected demand is estimated to be around 400,000 buses in the long run.
Olectra Greentech:
Founded in 1992, Olectra Greentech is a company hard to ignore, as it has been a pioneer when it comes to EV public buses. The company is currently India’s largest EV bus manufacturer. The company forms part of the MEIL group.
The company has multiple variants which include the K6, K7, and K9 E buses. Their K9 series is considered to be revolutionary when it comes to E buses. It comes with regenerative braking which covers 30% of the energy while braking. Its fast charging technology allows the buses to recharge within 2-3 hours. And finally, their Iron Phosphate batteries allow long ranges on a single charge. In addition to this, the company is India’s only manufacturer of tarmac electric buses for airports.
The company’s recent developments include opening a factory in Hyderabad which has the capacity to produce 10,000 units. For the December quarter of 2021, the company sat on orders worth Rs. 3000-3500 crores for 2000 buses.
Closing Thoughts
In this article, we discussed the list of the top EV stocks in India along with leading Electric Vehicle Manufacturers, their current work in the EV segment, and future prospects. The Indian government had set up the aim of replacing all internal combustion engines with EVs by 2030.
A report from Mckinsey and Company in 2017 indicated that 40% of electrification was a more realistic picture of mobility in 2030. This report, however, was from prior to the Pandemic. This, in turn, will further set back electrification in the industry for years to come.
In addition, the steps taken in order to enable the acceptance of EVs will not suit their main purpose if alternative means of electricity production are not implemented. Currently, up to 60% of the electricity is produced from coal. Although the government has set major aims to bolster the growth of EVs a lot more has to be done in order to ensure they are implemented.
FAQ
1. Which Indian Company is investing in electric vehicles?
The Top Companies that are investing in Electric Vehicles are Tata Motors, Eicher Motors, TVS Motors, Bajaj Auto, Hero MotoCorp, Greaves Cotton, Amara Raja Batteries, Exide Industries, Tata Power, Ashok Leyland, Mahindra & Mahindra.
Other leading EV stocks in India that are working on Electric Vehicles or related EV ancillary products are JBM Auto, Olectra Greentech, Kabra Extrusion Technik, IOC, BPCL, Reliance Industries, NTPC, Power Grid, Tata Chemicals, Gujarat Fluorochemicals, Neogen Chemicals, Tatva Chintan Pharma, Motherson Sumi, Suprajit Engineering, Minda Industries, Film Industries, Tata Elxsi, L&T Technology, Hindustan Copper, NALCO and Hindalco. In addition, six big Tata Group companies joined hands under the name Tata universe to create an EV ecosystem.
2. What is the future of EVs in India?
The future of EVs in India seems very bright. The Indian government wants to join the Electric Vehicle Revolution and according to the sources, they plan to have 30% of private cars, 70% of commercial vehicles, 40% of buses and 80% of two-wheelers and three-wheelers go electric by 2030. India plans to make 10 million two-wheelers every year, which is about 15% of the world’s production.
3. Who is the largest manufacturer of lithium batteries in India?
Some of the largest Lithium-Ion battery manufacturers in India are Exide Industries, a joint venture between Suzuki, TOSHIBA, and DENSO, in Gujarat; Amara Raja Batteries, Li Energy, and ATL and Manikaran Power Ltd.