EV Stocks of India for your investment portfolio in 2022

The year 2022 appears to be the year of electric vehicle equities, also known as EV stocks. Even if you aren’t a stock market aficionado, it’s difficult to ignore the buzz surrounding India’s electric vehicle sector. In the next five years, over Rs, 94,000 crores will be invested in the Indian EV sector, according to a joint analysis by Indospace and Colliers. As a result, it’s safe to predict that demand for EV stocks will skyrocket in the next years. This is why you must familiarize yourself with the numerous EV stocks available. Here we have a list of ev stocks in india 2022 in which you can invest and be a part of the EV ecosystem.

Let us first define an EV stock before discussing the various EV stocks available in the Indian market. EV equities aren’t only shares in firms that make electric vehicles. A wide number of services are available through EV stocks, including –

EV stocks include companies that make electric buses, electric trucks, electric scooters, and other electric vehicles.
Electric vehicle charging and battery manufacturing companies are also EV stocks.
EV stocks include companies in the abrasives sector such as Grindwell Norton Ltd and others.

As a result, it’s reasonable to conclude that EV stocks are performing exceptionally well in the stock market. The growth of electric vehicle stocks is almost certain, as the government is pushing for an EV revolution in the country. There are two key reasons behind the government’s push –

India is the world’s third-largest carbon emitter. As a result, the Indian government is under a lot of pressure to cut carbon emissions. New policies are being developed around the world to combat climate change. Now it is India’s turn to act quickly. Switching to electric vehicles will provide the government with much-needed relief around the world.
India’s fuel bill is the second factor. India’s energy bill is expected to be $24.7 billion in 2021. Fuel consumes a large portion of our foreign reserves. The adoption and promotion of electric vehicles will aid in the preservation of our foreign reserves.

It should come as no surprise that if the overall EV sector grows, EV stocks would also grow. We’ll look at all 44 electric vehicle stocks in India in this article. We’ll go through their involvement in the electric vehicle sector, key financial statistics, and the success of these 44 EV stocks.

List of all EV Stocks in India

Reliance Industries Ltd.

Reliance Industries and Mahindra & Mahindra have teamed up to investigate the development of electric vehicle products and services. This joint venture will also investigate the development of electric charging infrastructure for two- and three-wheelers, quadricycles, and e-SVCs (small commercial vehicles). With so much money behind it and the Reliance name, this is one EV stock that everyone is paying attention to.

TVS Motor Company Ltd.

TVS Motor Company Ltd is India’s second-largest EV stock. In the next four years, it plans to invest Rs 1,200 crores in future technologies including electric vehicles. With one product, the TVS iQube, an electric scooter, the company has already entered the EV market.

Tata Motors Ltd.

Tata Motors is the country’s largest electric vehicle manufacturer. It controls 75% of the EV market in India. Tata Motors plans to invest $2 billion in electric vehicles over the next five years. Tata Nixon EV, Tata Tigor EV, and more electric vehicles have previously been released. Tata Motors is poised to be one of the most promising EV stocks in the market if it can maintain its market dominance by developing and building low-cost EVs.

Indian Oil Corporation Ltd.

Indian Oil Corporation Ltd is the largest oil marketer in India. In the EV space, it is working on aluminum-air battery technology for EVs. It has also set up 257 EV charging stations and 29 battery swapping stations in India. Low-cost batteries are crucial for the mass production of EVs.

Mahindra & Mahindra Ltd

Apart from the joint venture with Reliance Industries, Mahindra & Mahindra is also looking to expand its collection of EV cars. The company is set to launch 16 electric vehicles by 2027 across SUV and light commercial vehicle segments. It also plans to invest Rs 3,000 crores in the electric vehicle segment in the next three years.

Hindalco Industries Ltd

Aluminum is a steel substitute that will play a critical part in the production of low-cost electric vehicles. Hindalco Industries Ltd is in a great position because it is the market leader in Indian aluminum and copper. Hindalco Industries Ltd will become a prominent player in the EV sector as demand for electric vehicles grows.

Bajaj Auto Ltd

Bajaj Auto Ltd has entered the EV sector with its electric scooter – Chetak. The company also has plans to set up a wholly-owned subsidiary to produce entry-level electric bikes for high-performance motorcycles.

Bharat Petroleum Corporation Ltd

BPCL is planning to set up 1,000 electric vehicle charging stations in India. The company has allocated Rs 5,000 crores towards its renewable energy portfolio over the next five years. BPCL is the second biggest oil marketer with a wide reach in even rural areas. Hence, BPCL is surely an EV stock to look out for.

Tata Power Company Ltd

Tata Power Company Ltd is a leader in developing the EV charging ecosystem in India. Tata Power’s EV portfolio consists of everything from public charging to workplace and home charging infrastructure. The company has recently installed over 1,000 EV charging stations in the country.

L&T Technology Services Ltd

L&T Technology Services Ltd is a full-service electric vehicle provider. The company specializes in battery management systems, power converters, and motor controller design, development, and testing. In addition, the company has created a one-of-a-kind electric car component testing lab.

Hero MotoCorp Ltd

Hero MotoCorp Ltd has finally decided to enter the electric vehicle market, although a little late. In 2022, the business plans to release its first electric scooter. It also intends to deploy its electric vehicles in 20 different countries. For its electric scooters, it will use Ather energy rapid charging technology, which is a step ahead of its EV competition.

Sona BLW Precision Forgings Ltd

To develop innovative magnet-less e-motor technology, Sona BLW Precision Forgings Ltd has teamed up with Israel’s IRP Nexus Group. For two and three-wheeler EVs, the company will design and produce high-efficiency, low-cost motors, and controllers.

Tata Elxsi Limited

Tata Elxsi Ltd has played a key role in developing Tata Motor’s Nexon EV. It is also involved in e-vehicle testing with functional testing, diagnostic tests, drive scenarios, and range verification of EV manufacturers.

Ashok Leyland Ltd

Ashok Leyland has set up a UK-based subsidiary Switch Mobility. It is planning to invest $150-200 million in the next five years in the EV business. It is also planning to launch its first electric light commercial vehicle (e-LCV) in 2022 and has already secured orders for 2,000 EVs.

Minda Industries Ltd

Minda Industries is a manufacturer of electric vehicle (EV) components for original equipment manufacturers (OEMs). FRIWO AG, a German business that specializes in power supply devices and e-drive solutions, has just created a joint venture with it. It also intends to increase its alloy wheel business, as the alloy category is expected to receive a lot of demand from EV OEMs.

Gujarat Fluorochemicals Ltd

Gujarat Fluorochemicals Ltd (GFCL) is focusing on producing batteries for electric vehicles. The company has set up a new subsidiary, GFCL EV products Ltd which will manufacture battery components and products for electric vehicles.

Tata Chemicals Ltd

Tata Chemicals Ltd will be critical to Tata Motors’ success in the electric vehicle market. The company’s main line of business is chemical manufacturing. However, it has struck an agreement with the Indian Space Research Organisation (ISRO) to transfer lithium-ion cell technology, which is critical for EVs.

Grindwell Norton Ltd

Grindwell Norton Ltd is the leader in the Indian abrasives sector. There is high demand for silicon carbide in EVs as they prevent loss of charge and ensure that EVs run longer. Companies such as Tesla Motors have shifted from silicon to silicon carbides. Grindwell Norton Ltd is a major supplier of silicon carbides to all leading EV manufacturers. So, this is one of those good EV stocks to keep on your radar.

National Aluminum Company Ltd

Lithium batteries are a key component of EVs. And aluminum is a major alternative to the expensive steel used to produce EVs. NALCO is India’s leading aluminum company. It has also set up a joint venture with Hindustan Copper Ltd and Mineral Exploration Corporation Ltd to mine lithium from the ABC triangle – Argentina, Bolivia, and Chile. If successful, NALCO can be one of the biggest EV stocks in the coming years.

Carborundum Universal Ltd

Carborundum Universal Ltd also produces lithium batteries. It is one of the only 10 companies which has received lithium-ion battery technology from ISRO.

KPIT Technologies Ltd

The future of electric vehicles is smart charging. To ease communication between EV and Electric Vehicle Supply Equipment, KPIT has created a Conformance test suite (EVSE). KPIT is in charge of the final EV system infrastructure development and manufacture.

Exide Industries Ltd.

Exide Industries Ltd is a storage battery industry leader. It has already invested Rs 232 crores in Exide Leclanche Energy, a lithium-ion battery factory. The business is currently constructing India’s first lithium-ion battery cell manufacturing facility. Exide Industries Ltd has the potential to be a profitable EV stock because lithium is at its heart of them.

Hindustan Copper Ltd

Electric Vehicles use four times more copper than traditional internal combustion engines. With the mass production of EVs in the future, the demand for copper is expected to grow rapidly. And one of the biggest beneficiaries of this high copper demand will be Hindustan Copper Ltd.

Power India Ltd

ABB Power Products and Systems India Ltd and Hitachi Energy India Ltd or Power India Ltd, have recently joined hands with Ashok Leyland to work on a greener electric bus transport system in India. ABB has developed the world’s fasted flash-charging technology to advance e-mobility and reduce carbon emissions.

Amara Raja Batteries Ltd

Amara Raja Batteries Ltd is the second biggest automotive battery manufacturer in India. It is set to invest $800 million to $1 Billion to build a Gigafactory over the next five to eight years. The company has created India’s only technology hub to develop lithium-ion cells.

Rattanindia Enterprises Ltd

Rattanindia Enterprises Ltd has formed a strategic relationship with Revolt, India’s leading electric motorbike manufacturer, worth Rs 150 crore. India’s first artificial intelligence-enabled electric motorcycle has been unveiled by Revolt. Rattanindia Enterprises is a promising EV stock in the motorcycle market, while other businesses are focusing on huge EVs.

Olectra Greentech Ltd

India’s largest electric bus manufacturer is Olectra Greentech Ltd. The business has already received orders worth Rs 3,000 crores for 2,000 electric buses. With a 35-40% market share in the developing electric bus market, Olectra is a global leader. This is significantly higher than Ashok Leyland Ltd’s and Tata Motors’ respective market shares.

Polyplex Corporation Ltd

Polyplex Corporation Ltd is the seventh-largest thin polyester producer in the world. It is extensively used in the electric vehicle industry. Polyester Film is one of the key products used in a lithium-ion battery. Hence polyplex corporation ltd is an interesting EV stock to keep on your radar.

Suprajit Engineering Ltd

Suprajit Engineering Ltd is the largest manufacturer of automotive cables in India. As per industry experts, there will be no reduction in the number of cables required for four-wheeler electric vehicles which is a good sign for the company.

Tatva Chintan Pharma Chem Ltd

This electric vehicle stock is a market leader in the production of electrolyte salts for supercapacitor batteries. These are energy storage devices with a large capacity that can be used in EV hybrid automobiles. In addition, the company has created products in the areas of car emission control and environmental emission control.

Jindal Poly Films Ltd

Jindal Poly Films is also one of the top manufacturers of thin polyester which is used in electric vehicles.

JBM Auto Ltd

JBM Auto Ltd was the first company to launch 100% electric buses in India. It is one of the biggest manufacturers of electric buses in India. The company is also in the EV charging solution space. It provides key systems and assemblies to automotive OEMs.

Uflex Ltd

The company is active in the automotive industry and agricultural machinery involved in the production of flexible mechanical systems of remote control.

Greaves Cotton Ltd

Greaves Cotton Ltd is India’s largest provider of two-wheeler and three-wheeler engines. Greaves Electric Mobility, its subsidiary, plans to invest Rs 700 crores in the EV business over the next ten years.

Gabriel India Ltd

Gabriel India Ltd provides a wide range of ride controls including shock absorbers, front forks, etc. The company has orders from automobile giants like TVS, Yamaha, Maruti Suzuki, and even Ola Electric in its kitty.

Wardwizard Innovations & Mobility Ltd

The first electric car firm to be listed on the Bombay Stock Exchange is Wardwizard innovations and mobility Ltd. (BSE). The Joy e-bike is their first electric vehicle. The corporation has agreed to invest Rs 500 crores in Gujarat to promote electric vehicles, according to a memorandum of understanding signed with the Gujarat government.

Time Technoplast Ltd

Time Technoplast Ltd manufactures value-added plastic auto components. It manufactures anti-spray 3S rain flaps, radiator coolant tanks, fuel tanks, air ducts, etc. The company also expects to see major growth in its battery segment with the growth in the production of EVs.

Expleo Solutions Ltd

Expleo Solutions Ltd is a key enabler of new e-mobility solutions including – energy storage systems, battery management, inverter, hybrid engine management systems, etc.

Fiem Industries Ltd

Fiem Industries Ltd is one such EV stock that is on everyone’s radar. The company is the sole supplier to Ola Electric for headlamps, tail lamps, indicators, and other components.

Kabra Extrusion Technik Ltd

India’s major manufacturer of plastic extrusion machinery is Kabra Extrusion Technik Ltd. Battrixx, the company’s battery division has partnered with Wardwizard Innovations and Mobility to provide battery packs for Joy e-bikes. Battrixx makes EV batteries that are lightweight, high-energy, and low-maintenance.

Visaka Industries Ltd

To support electric automobiles, bikes, and scooters, Visaka Industries Ltd wants to build ten self-sustaining solar-powered electric vehicle charging stations dubbed ATUM Charge. ATUM Life retail stores have also been established by the corporation. It will manufacture environmentally friendly green items such as solar roofs and electric vehicles.

Pix Transmission Ltd

Pix Transmission Ltd is a leading manufacturer of belts for the automotive sector. Its rubber cover belts have longer longevity than its competitors

SML Isuzu Ltd

SML Isuzu Ltd is one of India’s largest manufacturers of small buses and trucks. The company is working with the Punjab government to manufacture electric buses.

Bharat Forge

Tork Motors is owned by Bharat Forge, which owns 60.66 percent of the company. Shelke, the founder of Tork Motors, established a factory in Chakan under its umbrella, which he refers to as a “micro-manufacturing model” capable of producing 40,000 units per year. Tork Motors has a significant challenge. It must not only compete with Ather Energy and Revolt Motors, but it must also manage and respond to the ever-increasing demand of Indian consumers.