Top Electric Vehicle stocks to buy in India by 2021

Image shows the top electric vehicle stocks in India and an electric car with the stock analysis of electric vehicles in India
  • Electric vehicle stocks in India and battery manufacturers are expected to skyrocket after the shift to electric mobility.
  • Major industries to benefit from EVs in India are power companies, battery manufacturers, public transport, and anode manufacturers.
  • The launch of global EV giant Tesla in India marked a new era in the EV industry of India.

Lately, after the pandemic people have started to realize the need for electric vehicles in a nation with alarming pollution levels, which significantly got reduced during the lockdown.

The robust boost in the interest of the public and government towards sustainable mobility indicates the onset of the green revolution in India. This boost will give rise to the electric vehicle-related stocks in India and electric vehicle battery manufacturer’s stocks in India.

With the recent hike in the price of petrol and diesel, Indians are very much interested in adopting an alternative way of mobility which is cheaper and cleaner. It makes 2021 the high time to buy electric vehicle penny stocks in India.

Best electric vehicle stocks in India with the stocks of major electric vehicle companies in India
Best electric vehicle stocks in India with the stocks of major electric vehicle companies in India

The Indian Government aims for a 100% electric mobility nation by the next decade.

Current scenario of electric vehicles in India

The electric vehicle industry geared up recently on a massive scale in India with the hands-on involvement of Government and automobile manufacturers.

The government offered 1120 Cr to TATA Motors Ltd for manufacturing 10,000 electric cars in order to mitigate the pollution problems in the capital and certain other metros.

Recently the global EV giant Tesla has settled for its manufacturing unit’s location and office near Karnataka, which created a big hype towards EV in the nation.

open an electric vehicle charging station business in india
open an electric vehicle charging station business in india

Big automobile giants like Mahindra, Tata Motors, and Hero Motocorps have already launched their first generation of electric vehicles in India.

And some major startups like Ather energies, Tork motors, and Okinawa electric have already invested a big sum of money time and in the R&D of electric vehicles in India.

Future of electric vehicles in India

With the ongoing demand and growth of electric vehicles in India, The sales of EVs are expected to jump over 30 Million by 2030.

The Indian Government has taken on an ambitious goal of making 30% of vehicles in India electric by 2030. GOI plans to replace 40% of commercial vehicles and 30% of personal vehicles with electric cars by 2030.

READ MORE: FUTURE OF ELECTRIC VEHICLES IN INDIA

By 2023 the government wants all 3-wheelers to run on batteries, by 2025 this rule is expected to expand to most 2-wheelers. With the increased focus of the government towards green mobility in India, it can be expected that the EV sector will continue to flourish in India in some remarkable direction and boost the electric vehicle stocks in India.

You might be wondering – which stocks to buy for electric vehicles in India? or which is the best electric vehicle stocks India?

Top electric vehicle company stocks in India and analysis of electric vehicle share market in India
Top electric vehicle company stocks in India and analysis of electric vehicle share market in India

Top electric vehicle stocks and battery companies in India are :

  1. Mahindra & Mahindra Limited
  2. Tata Motors Limited
  3. Tata Power Company Limited
  4. Maruti Suzuki India Ltd
  5. Ashok Leyland Ltd
  6. Olectra Greentech Ltd
  7. Amara Raja Batteries Ltd
  8. Exide Industries Ltd
  9. Indian Oil Corporation Ltd
  10.  Himadri Speciality Chemical Ltd
  11. Graphite India Ltd
  12. High Energy Batteries (India) Ltd-

Best electric vehicle stocks in India

Mahindra & Mahindra Limited

With the Launch of Mahindra Reva in the early 2000s, Mahindra made its first shift towards the electric revolution in India. With its EV manufacturing unit in Bangalore, Mahindra electric has differentiated into several EV segments like passenger and cargo.

Apart from Electric cars, Mahindra & Mahindra Limited is expected to expand its R&D to the electric vehicle battery sector by mid-2021.

Mahindra launched its two new ranges of compact urban electric cars – Mahindra e2o and Mahindra e2o plus. Mahindra & Mahindra Limited company stocks can be a great opportunity to invest now.

Mahindra & Mahindra Limited share price :

MetricsValue
Market capRs 1,06,169
Dividend yield0.28%
PE Ratio-178.85
Share Price Rs 852.05
Mahindra & Mahindra Limited share price

CHECK OUT: Top electric vehicle companies in India

Tata Motors Limited

India’s automotive giant Tata Motors took part in the electric revolution with the launch of its highest-selling EV in India- the Nexon EV. Tata Motors came up with the state-of-the-art ZIPTRON technology in the latest electric vehicles which utilize smart regenerative braking to charge the battery while on the drive.

Currently, Tata Motors offers three electric cars: The Tigor EV, Nano EV, and the Tiago electric.

Tata is expected to conquer the race of EVs in India as it is rapidly expanding its R&D in electric vehicles in India and abroad. Apart from cars, Tata motors also produce some of the major electric utility vehicles, buses, trucks, and defense vehicles in India.

Tata Motors Limited share price:

MetricsValue
Market capRs 1,15,713
Dividend yield0.00%
PE Ratio-7.35
Share Price Rs 348.50
Tata Motors Limited share price

Tata Power Company Limited

The electric utility company Tata power is a part of the Tata Group which is segmented into the generation and distribution of electricity. It generates 10,875 MW of electricity out of which 32% is generated from clean energy sources.

The company aims to be the largest electric vehicle charging station provider in India by 2030. Currently, Tata Power has installed around 170 electric vehicle charging stations in India.

The company has signed MOU with Petrol pumps like Indian Oil, Bharat Petroleum for installing EV charging stations in their premises.

Tata power company share price :

MetricsValue
Market capRs 3,630.95
Dividend yield1.47%
PE Ratio29.58
Share Price Rs 105.25
Tata power company share price

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Maruti Suzuki India Ltd.

Maruti Suzuki India Ltd

The largest car manufacturer in the nation, Maruti Suzuki has the widest distribution network and attached emotion among the masses. Being most trusted by Indians consumers, its EV stocks are expected to skyrocket once it launches its own electric vehicles.

The company is going to launch its iconic Maruti Suzuki wagon R’s electric version by mid of 2021. By then it is good to keep a close look at the share price of Maruti Suzuki.

Maruti Suzuki India Ltd share price:

MetricsValue
Market capRs 2,15,223
Dividend yield0.84%
PE Ratio48.13
Share Price Rs 7,124.70
Maruti Suzuki India Ltd share price

Ashok Leyland Ltd.

The first manufacturer of the electric bus with flash-charge technology, Ashok Leyland is the leading manufacturer of electric bus, truck, and defense vehicles in India.

It makes vehicles fit on Indian roads, which makes it the ideal heavy-duty electric vehicle for India. Some of the iconic launches of Ashok Leyland are Circuit, Circuit S, and HYBUS.

With ABB TOSA’s technology Ashok Leyland is going to disrupt the heavy electric vehicle segment in India.

Ashok Leyland Ltd share price:

MetricsValue
Market capRs 38,587.51
Dividend yield0.38%
PE Ratio-77.22
Share Price Rs 131.45
Ashok Leyland Ltd share price

Olectra Greentech Ltd.

BYD, the largest electric bus manufacturer worldwide, has formed a strategic partnership with Olectra Greentech to increase the production of electric buses in India to 5,000 vehicles a year from the 2,000 that are now built.

There are around 200 BYD Olectra buses operating in India. It plans to expand its manufacturing unit in  Hyderabad, Pune, Telangana, and Delhi in order to the electric vehicle ecosystem in India.

Olectra Greentech Ltd share price:

MetricsValue
Market capRs 1,474.17
Dividend yield0.00%
PE Ratio-926.10
Share Price Rs 178.90
Olectra Greentech Ltd share price

Amara Raja Batteries Ltd

As batteries are the major component of electric vehicles, the battery manufacturing companies can be considered as top stock picks for electric vehicle battery manufacturers stocks in India. Batteries need to be replaced at regular intervals which means there is a continuity in the sales of EV batteries. 

Being the second-largest battery manufacturer in India, Amara Raja Batteries is looking to start a Lithium-ion battery manufacturing plant soon. The company is planning to set up several charging stations in collaboration with Delhi Government.

Amara Raja batteries will be a major player in the electric vehicle stocks in India, the reason which it is a great stock to watch out for.

Amara Raja Batteries Ltd share price:

MetricsValue
Market capRs 15,604.58
Dividend yield1.20%
PE Ratio26.26
Share Price Rs 914.20
Amara Raja Batteries Ltd share price

Exide Industries Ltd.

The leading manufacturer of Automobile batteries with 73% of its segment being the automobile batteries and 26% in the industrial battery segment. Being the most trustworthy and famed brand in the battery segment in India, Exide battery is expected to disrupt the battery segment if it shifts to the manufacture of Lithium-ion batteries.

In June of last year, the country’s largest lead-acid battery producer formed a joint venture (JV) with Leclanch SA of Switzerland, one of the world’s leading energy storage solution firms. Exide has the potential of becoming the leader in the electric vehicle battery manufacturer stocks in India.

Exide industries ltd. Share price:

MetricsValue
Market capRs 17,667.25
Dividend yield1.98%
PE Ratio24.37
Share Price Rs 207.50
Exide industries ltd. share price

Indian Oil Corporation Ltd

The leading oil corporation of the country, Indian Oil has tied up with many companies to allow the installation of the electric vehicle charging station in their premises. Along with that, the company aims to start its own charging station chain in India. 

With such a step from the leading oil corporation of India to develop the largest electric vehicle charging infrastructure, it is the biggest opportunity for investors to invest in the electric vehicle companies in the Indian stock market.

Indian Oil Corporation Ltd share price:

MetricsValue
Market capRs 96,589.27
Dividend yield 4.14%
PE Ratio19.50
Share Price Rs 102.60
Indian Oil Corporation Ltd share price

Himadri Speciality Chemical Ltd.

HSCL is going to be a leading name in the electric vehicle stocks in India as it is going to double up its production level. The company is aimed at manufacturing anodes for lithium-ion batteries, which is the main component of electric vehicles.  

Furthermore, the firm is planning to add a 20,000 MTPA facility to its ACM factory, which will be used for lithium-ion batteries.

There is an expectation for the significant growth of HSCL as there will be a great demand for anode material for the manufacture of Li-ion batteries once the EV revolution begins at full scale in India.

Himadri Speciality Chemical Ltd share price:

MetricsValue
Market capRs 2,004.00
Dividend yield21.00%
PE Ratio-926.10
Share Price Rs  47.85
Himadri Speciality Chemical Ltd share price

Graphite India Ltd.

Graphite being the major component in batteries, it will be in great demand once the EV revolution sets in. At the same time, batteries being the major part of EVs, Graphite India’s share is expected to rise exponentially over the next decade.

Graphite India Ltd. share price:

MetricsValue
Market capRs 29,597.83
Dividend yield0.41%
PE Ratio-93.18
Share Price Rs 491.25
Graphite India Ltd. share price

Industries that will benefit from the EVs in India.

With the shift to sustainable mobility in India, a lot of sectors are going to get benefited out of it which will boost the electric vehicle company stocks in India. The reason which these industries heavily invested in the electric vehicle sector.

Major industries which will be benefited from the electric vehicles in India and the electric vehicle stocks in India
Major industries which will be benefited from the electric vehicles in India and the electric vehicle stocks in India

Some of the industries that will benefit from electric vehicles in India are :

Lithium-ion Battery manufacturers

The battery being a major component of electric vehicles, battery manufacturers will be highly benefited from the electric revolution in India. The government of India has also announced some incentives in battery manufacture and R&D, so the stocks are going to skyrocket in this sector.

Anode manufacturers

It can be expected that the companies manufacturing anode material for Lithium-ion batteries will be in high demand in 2021 and boost the electric vehicle-related stocks in India.

Power Companies

After the onset of the electric mobility ecosystem, there will be a huge demand for power supply in India. This rise in demand will benefit the companies as well the investors who are in the lookout for the best electric vehicle stocks in India.

Public Transportation system

The majority of commute in India is done through public transportation. There will be a boost in this sector as electric vehicles as public transport will raise its standards by making them more reliable, sustainable and cost-effective

Ecogears take

This push towards sustainable mobility created opportunities for the automobile giants and battery manufacturers to develop and invest in the R&D of alternative fuel technology vehicles in India. This shift is expected to skyrocket the electric vehicle related stocks in India & electric car share price in India.

The government of India came up with certain policies and schemes like FAME II ( Faster Adoption and Manufacture of Electric Vehicles) and National Electric Mobility Mission which aims to increase the number of electric vehicles in India and advancements in EV technology.

Which stock will benefit while implementing electric vehicles?

Electric vehicle stocks of major automobile manufacturers and battery producers are going to get benefited from the launch of electric vehicles.

Which are the stocks related to electric vehicle?

Some of the major stocks related to electric vehicles are from the automobile giants and battery manufacturers like Mahindra & Mahindra, Maruti Suzuki, Hero Motocorp, Ashok Leyland, Exide batteries, and Amar Raja batteries Ltd.

Which are electric vehicle battery manufacturer’s stocks in India?

Top electric vehicle battery manufacturers stocks in India are :
– Amara Raja Batteries Ltd
– Exide Industries Ltd
– High Energy Batteries (India) Ltd
– Himadri Speciality Chemical Ltd

Which are the top listed electric vehicle company stocks in the Indian share market?

Some of the top electric vehicle companies in the Indian stock market are:
– Mahindra & Mahindra Limited
– Tata Motors Limited
– Tata Power Company Limited
– Maruti Suzuki India Ltd
– Ashok Leyland Ltd
– Olectra Greentech Ltd

Which are some of the electric vehicle penny stocks in India?

Some of the electric vehicle penny stocks in India are:
– Himadri Speciality Chemical Ltd
– Indian Oil Corporation Ltd
– Ashok Leyland Ltd
– Tata power company

What is the best electric vehicle stock to buy in India?

The best electric vehicle stocks to buy in India are:
– Mahindra & Mahindra Limited
– Tata Motors Limited
– Tata Power Company Limited
– Maruti Suzuki India Ltd
– Ashok Leyland Ltd

Which companies will benefit from electric vehicles in India?

Major automobile companies and battery manufacturers like Mahindra & Mahindra Limited, Tata Motors Limited, Amara Raja Batteries Ltd, and Exide Industries Ltd are going to get benefited from electric vehicles in India.

5 thoughts on “Top Electric Vehicle stocks to buy in India by 2021”

  1. Dinesh Ramchandra Dayma

    I want to opening charging station in India, fastest charging station like filing like petrol tank full in time.

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