The Indian Government is planning to promote electric vehicles on a big level by proving huge subsidies to the manufacturers of electric vehicles. The govt is looking to get rid of the vehicles that run on fossil fuels to reduce the pollution and mark a shift toward the more renewable source of energy. This promises a good outlook for the shares of the companies that are involved in the making of electric vehicles and the companies which make specific parts of electric vehicles. The shift to the EV is evident and in the long run no one can deny that electric vehicles will rule the roost on Indian roads. Therefore, it is the perfect time and opportunity to invest in EV stocks right now. Here we have listed the EV stocks with the best outlook for the foreseeable future.
1. Tata Motors
Tata is a symbol of trust in India and the organisation has never disappointed with its shares as well. Tata Motors is already producing the first EV cars in India and is planning to increase its production in the near future. Tata is also looking to open up the electric vehicles across India and bring a great revolution. All in all, Tata Motors is going to be at the centre of EV revolution in India and now is the best time to invest in its shares.
2. Exide Industries
All of the electric vehicles require batteries to function and there is no denying the fact the Exide Industries is one of the industry leaders in the batteries department for vehicles. Exide has a strong presence in automotive, industrial and submarine battery sectors in India. It is expected to grow leaps and bounds with the focus shifting on electric vehicles in India. This might be the perfect time to get invested in the stocks of this company.
3. Ather Energy
Ather Energy is one of the first ones to bring in the two-wheeler electric vehicles in India. It has a strong presence in the two-wheeler EV market and has received fundings from industry leaders like Hero Motocorp. Ather is expected to grow with time and become more enticing and profitable for the investors.
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4. TVS Motor Company
TVS has a huge presence in the Indian two-wheeler market. It has been an industry leader for more than a few decades. The company has not started to adopt the electric vehicles ideology and has already produced highly popular EV versions of their flagship vehicles. TVS Motor Company is definitely going to be a big player in the EV revolution for India. It has great potential and proven track record which makes it one of the best investment options in the stock market.
5. Reliance Industries
Reliance can never be kept out of any race in India. It has a strong presence in almost all of the sectors and is a tough competitor to Tata. Reliance Industries Ltd and the Mahindra group have joined hands to explore the creation of EV products and services in India. This joint venture can prove to be highly effective and even more influential than the other competitors in the same sector.
Note: Investing in share market involves risk and you should consider all the possibilities before embarking on an investment journey.