Top EV Companies That Are Public
When it comes to transportation, new technologies are always emerging on a global scale. Alternative transportation technologies are mostly focused on electric cars, with many firms coming on board to gain traction before the industry makes an absolute move away from traditional fossil fuels.
This shift may also be interpreted as existing firms attempting to catch up to Tesla and the standards set by them in the electric vehicle (EV) industry before it is too late. Today, we're going to look at the electric vehicle industry in India and the companies in India that investors should keep an eye on.
Why Electric and What's the Future?
Climate change is one of the primary reasons governments are being compelled to adopt an electric alternative. India is placed 168th out of 180 countries on the Environmental Pollution Index (EPI) 2020 in terms of air quality. The government's goal has been to electrify the whole country by 2030. This is a mammoth goal in light of the early phases of adoption in which we presently find ourselves.
Leading Vehicle Manufacturers in India | Top EV Companies that are Public
The Indian EV sector is still in its infancy and does not yet have a market leader for all vehicle types. There are around ten big participants in the two-wheeler category, three or four in the electric bus segment, and a few in automobile manufacture.
Mahindra Electric
Mahindra is the market pioneer for electric vehicles in India. As the world's first major EV manufacturer, Mahindra introduced its first EV, the Mahindra Reva, in 2001. India's first electric vehicle was the Mahindra Reva. Among its other electric vehicle types are the Mahindra E20 and eVerito. Mahindra, on the other hand, has focused not just on the production of EVs but also on battery packs and has cooperated with a variety of organizations to promote EV charging.
Mahindra Electric Stock Price
1. Mkt Cap (Rs. Cr.) - (1,17,301)
2. Dividend Yield - (0.93%)
3. Share Value - ( 939.85 )
4. PE Ratio - ( 28.39 )
Tata Motors Ltd.
Tata is India's largest automaker. One of Tata's primary advantages has been its ability to use global resources. Tata's innovation activities are directed at the development of environmentally friendly and suitable automobile technology. When it comes to EVs, Tata has concentrated on the Indian market for Passenger Vehicles and Electric Buses. Presently in four-wheelers, Tata offers four models. Nexon EV, Tigor EV, Nano EV, and an electric model of the Tiago. Apart from EVs, Tata's efforts to strengthen the industry's infrastructure have included the establishment of charging stations.
Tata Motors Stock Price
1. Mkt Cap (Rs. Cr.) - (172,108)
2. Dividend Yield - (0.0%)
3. Share Value - ( 518.70 )
4. PE Ratio - ( -12.84 )
Ashok Leyland
Ashok Leyland, the Hinduja Group's flagship firm, is the world's largest bus manufacturer and the market leader in India's truck sector. Ashok Leyland develops electric variations tailored to Indian circumstances and also pioneered battery switching in electric buses to meet the country's e-mobility demands. It has introduced a number of electric bus types, including the Circuit, HYBUS, and Electric Euro 6 Truck, as well as the iBUS.
Electric Stock Price
1. Mkt Cap (Rs. Cr.) - (39,703.01)
2. Dividend Yield - (0.00%)
3. Share Value - ( 135.25)
4. PE Ratio - (-3,784.84)
Author’s POV:
Electric vehicle technology is advancing at a breakneck pace. Additionally, the government is supporting the sale and usage of electric cars by granting price subsidies. However, before investing in electric car stocks, it is critical to assess your investment objectives and risk tolerance. You can consult an investing professional who will assist you in developing a portfolio that is tailored to your objectives and risk tolerance.
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