- Worldwide Gold Rush in EV sector!
- India’s past with EV
- Current EV Market in India and future projections
- Top 6 EV stocks in India
- Frequently Asked Questions (FAQs)
Worldwide Gold Rush in EV sector!
There is a Gold Rush going on currently in the Electric Vehicles (EV) sector, not only in India, but throughout the world! With the news of USA’s Tesla, Elon Musk etc. flashing daily in the news for one or the other innovation in EV, rest of the world and other automobile companies are also ‘gearing up’ to encash upon this new era of EVs.
India’s past with EV
To talk about India’s Electric Vehicles market, EVs (majorly two-wheelers) have been present here even in the last decade. But the last decade was ‘too early to be in it’ as far as the Indian market was concerned. Being in the early phase of the innovation cycle, Electric vehicles were costly and not as durable as other traditional vehicles considering their build quality and battery life. What added to this was the lack of EV infrastructure in India.
Current EV Market in India and future projections
Fast-forward to present time: India’s electric vehicle (EV) market is expected to grow at an unbelievable rate of 90% CAGR by the year 2030 to reach a $150 billion valuation, as per a report by consulting firm RBSA. Things in the EV sector are improving drastically in India. With the advent of the EV trend, major automobile companies in India like Tata Motors, Mahindra, Maruti etc.as well as new-age EV startups are ramping up their EV capabilities and have lined up excellent Electric vehicles as well as charging stations and other EV infra. This has thus exhilarated the automobile ancillary sector too to provide for electric components for EVs as well as for charging stations. Subsequently, a whole new EV ecosystem is getting developed in India. What should then this be called if not a Gold Rush!
Top 6 EV stocks in India
Here we have listed such Top 6 EV stocks which are supposed to perform good in future:
- Tata Motors (4-wheeler industry)
- Mahindra & Mahindra (4-wheeler industry)
- Hero Motocorp (2-wheeler industry)
- Tata Elxsi (Software)
- Amararaja Batteries (Battery)
- Tata Power (Charging)
Frequently Asked Questions (FAQs)
- Which companies are producing/going to launch Electric Cars in India?
– Mahindra, Tata Motors, Maruti Suzuki (but to launch by 2024-25), MG, Mercedes Benz
- Which companies are producing/going to launch Electric Bikes in India?
– Ola S1 Electric, Ather, Mahindra, Hero, Revolt, Bajaj, Okinawa, Tork, TVS
- What are some current/upcoming Electric car models, EVs, Electric SUVs in India?
– Mahindra E Verito, Hyundai Kona Electric, Tata Nexon EV, Volvo, Mercedes EQC, MG ZS, Mini Cooper SE, Mahindra e20, Mahindra eKUV100 (upcoming)
- What are Electric Car prices in India?
– Tata Nexon EV – Rs.14 Lakh onwards
Hyundai Kona Electric- Rs.24 Lakh onwards
Mahindra E Verito – Rs.10 Lakh onwards - What are Electric Bike prices in India?
– Ola S1 – Rs.85,000 onwards (ex-showroom)
Revolt RV 400 – Rs.1.1 Lakh onwards
Ather 450X – Rs.1.4 Lakh onwards
Hero Electric Flash/Optima – Rs.46,000 onwards - Will Tesla come to India?
– Yes (Hopefully) as per the media reports and Elon Musk’s tweets in the past. Tesla company is in talks with the Indian Government to overcome legal obstacles - Which top startups in India are working on EVs?
– Ather, Revolt, Tork, Yulu, Strom, Ola Electric - Which are good EV battery companies in India?
– Amara Raja Batteries, Exide, Hero Motocorp, Tata