We cannot deny that the future is electric & 2022 appears to be a good year. With industry leaders advocating EV adoption, the government too recognised that it is prudent to focus first efforts on the public transportation infrastructure.
This is because the private sector's adoption of EVs will be heavily influenced by other factors such as attractiveness. Given that public transportation is one of the most heavily used modes of transit in a country like India, it will undoubtedly provide a significant boost to the industry.
The last Union Budget 2022 included a programme for EV infrastructure and battery manufacturing, with the Government of India aiming for a nation with 100 percent electric mobility within the next decade.
Following this surge in electric vehicle, now seems to be an excellent time to invest in electric vehicle stocks.
Here are some, Top EV Stocks in India the Leading Vehicle Manufacturers you can look at.
TVS Motors is India's largest maker of two-wheelers. Additionally, the corporation intends to extend its EV portfolio. TVS has already introduced its first two-wheeler, the TVS iQube. Additionally, the corporation is concentrating on advancing its EV technology and improving the range of its EVs. 2022 seems to be a bright year for the corporation, which is concentrating its efforts on growing its footprint across the country.
Tata Motors is a market leader and the market leader in India's EV segment. Its passenger EV category had a 324 percent increase in November 2021. In terms of offerings, the company offers a diverse choice of automobiles to its consumers. Due to the company's extensive reach, it is believed to be a global leader in the EV industry. Recently, the business has declared its plan to introduce EV Land Rover, a subsidiary of Tata Motors. The company plans to invest over INR 15,000 crore in the near future on the development of the EV and market expansion.
Hero MotorCorp is India's largest two-wheeler manufacturer and is betting heavily on the two-wheeler segment, with ambitions to join the electric vehicle market in March 2022 with the launch of its first electric vehicle. Not only is the corporation concentrating on EV manufacturing in 2022, but it is also significantly investing in EV startups like as Ather, a Bangalore-based EV maker.
Mahindra and Mahindra, or simply Mahindra, is one of India's largest commercial and passenger vehicle manufacturers, focusing on the development of sturdy automobiles for clients. The company is already active in the electric vehicle sector, having introduced several EVs to the Indian EV market. The corporation is expecting to invest considerably in the EV industry in the next 3 years. Additionally, the business anticipates that EVs will contribute for 20% of overall sales by 2027.
Ashok Layland is another Indian vehicle manufacturer that intends to invest extensively in the electric vehicle sector. In India, the firm dominates the commercial vehicle industry. The company's electric vehicle initiative will be led by its UK division. Switch mobility is a company that develops next-generation electric buses and a light commercial vehicle (LCV) manufacturer. Switch Mobility has launched a series of strategic initiatives aimed at accelerating its transition to net-zero carbon mobility. However, the parent business 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 category.
We reviewed the top EV stocks in India, the main Electric Vehicle Manufacturers, their current activity in the EV segment, and their future prospects in this piece.
Electric vehicles (EVs) are just beginning to take off in India, numerous business models are being offered in the industry
& significant opportunities are arising.
A company's plans advise investors about its development prospects and the steps it is taking to boost its existing business. Additionally, it tells us about the company's strategy for doing the same. An investor can then assess the financial impact of these new changes on the company.
Yet you should not invest exclusively on the basis of a company's future ambitions. As long as you understand which developments will have an effect on the long term fundamentals and which will not, you are certain to do well.