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The 7 Top Electric Vehicle Stocks 2022
Simran Kaur
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Published on 13th Jan 22
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The 7 Top Electric Vehicle Stocks In India 2022

A controversy stated, "EV stocks soared on hype in 2021 — investors are betting 2022 will bring actual revenue."

In recent years, electric vehicle (EV) stocks have been a hot topic among stock market investors. Numerous experts believe that the automotive industry will transition to electric vehicles sooner rather than later - even governments around the world have subsidized the transition to EVs in various ways.

With this, investors have a strong belief in this space's growth trajectory - but if 2021 served as a warm-up period for the majority of growing companies, will 2022 deliver results for the optimistic stakeholders?

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With a number of catalysts, public perception and adoption of electric vehicles appear to have reached a tipping point.

  • To begin with, consumers' range anxiety is decreasing as battery technology advances. Ranges of up to 500 kilometers (300 miles) are now more common and comparable to those of combustion engines.
  • The continued development of high-speed charging stations means that electric refueling is no longer measured in hours but rather in minutes.
  • Governments have also jumped on board, offering generous incentives to consumers who switch from internal combustion engines to electric motors as well as commitments to a more accessible and extensive network of charging stations are also increasing.

Investing, the way up!

EVs remain an appealing investment opportunity, as manufacturers continue to expand and capture market share. Let’s have a glimpse of the thriving EV shares of 2022.

1. Tata Motors Ltd.

Tata Motors is a market leader and the market leader in India's electric vehicle segment. Its passenger EV segment saw a 324 percent increase in November 2021. In terms of offerings, the company offers a diverse range of vehicles to its customers. Due to the company's extensive reach, it is said to be a global leader in the EV segment. Recently, the company announced its intention to introduce an electric Land Rover, a Tata Motors subsidiary. The company plans to invest approximately INR 15,000 crore in the near future on the development of the EV and market expansion.

Fundamentals as of Jan 12, 2022

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Analysis of Market: 2022
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(Source Money Control)

2. Mahindra and Mahindra

Mahindra and Mahindra Limited, or simply Mahindra, is India's largest commercial and passenger vehicle manufacturer, focusing on the development of strong vehicles for customers. The company is already active in the electric vehicle sector, having introduced several EVs to the Indian EV market. The company intends to invest heavily in the electric vehicle segment over the next three years. Additionally, the company anticipates that EVs will account for 20% of total sales by 2027.

Fundamentals as of Jan 12, 2022

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Analysis of Market: 2022

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(Source Money Control)

3. Ashok Layland

Ashok Layland is another Indian vehicle manufacturer that intends to invest heavily in the electric vehicle sector. The company's electric vehicle initiative will be led by its UK subsidiary. Switch mobility is a company that develops next-generation electric buses and a light commercial vehicle (LCV) manufacturer. Switch Mobility has announced a series of strategic initiatives aimed at accelerating its transition to net-zero carbon mobility. However, the parent company is also actively involved in the market introduction of e-LCV. The company is concentrating its efforts on the development of electric vehicles for the commercial vehicle segment.

Fundamentals as of Jan 12, 2022

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Analysis of Market: 2022

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(Source Money Control)

4. TVS Motors

TVS Motors is one of India's largest two-wheeler manufacturers. Additionally, the company intends to expand its EV offering. The company launched its first two-wheeler, the TVS iQube, in 2020 and plans to expand it to additional cities in India by March 2022. In terms of plans, on 15th December 2021, the company announced the expansion of its collaboration agreement with BMW Motorrad for future technologies and electric vehicles. Additionally, the company is focusing on advancing its EV technology and increasing the range of its EVs. 2022 looks to be a promising year for the company, which is concentrating its efforts on expanding its reach across the country.

Fundamentals as of Jan 12, 2022

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Analysis of Market: 2022

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(Source Money Control)

5. Hero MotorCorp

Hero MotorCorp is India's largest manufacturer of two-wheelers. Besides that, the company is betting heavily on the two-wheeler segment and intends to enter the electric vehicle market in March 2022 with the introduction of its first electric vehicle. The company believes that two-wheelers will drive India's EV revolution. Not only is the company concentrating on EV manufacturing in 2022, but it is also heavily investing in EV startups such as Ather, a Bangalore-based EV manufacturer.

Fundamentals as of Jan 12, 2022

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Analysis of Market: 2022

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(Source Money Control)

6. Tata Elxsi

Tata Elxsi is a global leader in design and technology services, with a focus on automotive, broadcast, communications, healthcare, and transportation. They assist customers in reimagining their products and services by leveraging design thinking and digital technologies such as IoT (Internet of Things), Cloud, Mobility, Virtual Reality, and Artificial Intelligence. Tata Elxsi Ltd was instrumental in the development of Tata Motors' Nexon EV. Interestingly, it is involved in e-vehicle testing, including functional, diagnostic, and drive scenario testing, as well as range verification for EV manufacturers.

Fundamentals as of Jan 12, 2022

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Analysis of Market: 2022

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(Source Money Control)

7. Exide Industries Ltd.

Exide Industries Limited is a market leader in the storage battery industry. It has already invested Rs 232 crores in the establishment of Exide Leclanche Energy, a lithium-ion battery facility. The company is currently establishing India's first lithium-ion battery cell manufacturing facility. Exide Industries Ltd has the potential to be a lucrative EV stock due to lithium's central role in EVs.

Fundamentals as of Jan 12, 2022

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Analysis of Market: 2022

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(Source Money Control)

Move to What Moves You!

In an effort to transition to cleaner energy and more environmentally friendly transportation, the world has shifted away from internal combustion engine (ICE)-powered vehicles and toward battery-powered electric vehicles (EVs). As an investor, it's your turn to seize the rising tide of the EV economy by investing in companies across the EV ecosystem that stand to benefit from increased EV penetration.

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