By Abhishek Gautam
July 28, 2023
Electric Vehicles have been gaining popularity in India in recent years, which led to the rise of the EV battery sector as well. Here is how the EV battery companies have performed so far in 2023:
Exide Industries has forayed into manufacturing EV batteries in India. It has a market cap of Rs. 17,697 Cr offering yearly returns of 23.87%
Amar Raja Batteries are known for manufacturing EV batteries in India. Amar Raja has a market cap of Rs. 5,598 Cr offering yearly returns of 6.18%
Tata Chemicals launched a li-Ion recycling plant with a capacity of 500 tonnes. Tata Chemicals has a market cap of Rs 26,776 Cr which offered yearly returns of 17.15%
UNO Minda is a trusted supplier of electric vehicle components to EV manufacturers. It has a market cap of Rs. 26,776 Cr with YoY growth of 34.4%
High Energy Batteries is a prominent supplier of EV Batteries in India. It hs a market cap of Rs 492 Cr with 62% YoY growth in 2023.
HBL Power Systems is a reliable EV battery manufacturer in India with deep R&D. HBL has a market cap of Rs 4,937 Cr with a 10.86% annual growth rate.