Which shares will run away from the Electric Vehicle Boom in the country?  Learn

Which shares will run away from the Electric Vehicle Boom in the country? Learn


new Delhi. India aims to reduce carbon emissions to zero by 2070. A research conducted by the Accelerated E-Mobility Revolution for India’s Transportation Portal of India (e-amrit) has revealed that there were 7,96,000 electric vehicles registered in India as of December 2021. 1800 public charging stations were also built. Even in this time’s budget (Budget 2022), the government has made it clear that electric vehicles are the means of the future.

India has made a lot of progress in the matter of electric vehicles. But, he still has a long way to go. It is clear from the efforts being made by the government regarding electric vehicles and the increasing interest in them among the public that companies making electric vehicles will benefit a lot in the coming times. Let us know that the shares of which companies can get wings in future due to Electric Vehicle Boom.

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Tata Motors

Tata Motors has a 90% stake in the electric passenger vehicle sector. Not only this, Tata Nexo EV of Tata Motors is the best selling car in India. Tata Motors’ EV sales have increased six times in the last 12 months. Till December 2020, the company had sold 372 EVs while by December 2021 this figure reached 2361. Tata Motors dreams of selling 50000 EVs annually in the financial year 2023. Tata Motors is benefiting from the EV boom and beyond this, a rise in its shares can be seen (Tata Motors Share Boom).

Bajaj Auto

Bajaj Auto is also taking the electric vehicle segment seriously. It has invested 300 crores in its EV plant in Pune. The plant has a production capacity of 5 lakh EVs annually. The first electric vehicle from this plant is expected to be ready in June 2022. Bajaj Auto will also benefit from the increase in the trend of EVs.

TVS Motors

TVS Motors is currently selling the Icube Electric Scooter. It has a 4% share in the EV scooter market. In this financial year, the company has sold about 5 thousand iCube scooters. TVS has invested 1000 crores in EV business to manufacture 10,000 EV scooters per month.

Minda Industries

Minda Industries provides parts including lamps, switches, seats and alloy wheels to major electric vehicle makers. It has received orders worth about Rs 400 crore from the new age EV manufacturer. Has signed an agreement with Germany’s charging technology company FRIWO to set up a joint venture.

Tata Alexi

Tata ELXSI provides engineering services and solutions for connected, autonomous and electric vehicles. 44 percent of its business comes from the automotive market. Tata Motors is its main customer.

olektra greentech

OLECTRA GREENTECH manufactures electric buses. Due to the bumper orders received by the company, there was a huge jump in its business in the third quarter. While the company supplied 103 buses in the third quarter of FY 2022, this figure was 13 in the same quarter of 2021.

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KPIT TECH is working with 10 of the top 15 Auto OEMs globally. Recently it has started a pilot project with EV giants like Lucid, Rivian and Neo. 30 percent of the company’s revenue comes from the electric power train business. It also includes battery charging and management system.

Tags: Electric Vehicles, stock market, Tata Motors


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