EV stocks to buy in India 2022

Top EV (Electric Vehicle) Stocks to Buy in India 2022

For an investor, investing in such stocks that produce high stock market trading returns is ideal. But, on the other hand, investors look for those stocks that are relatively in demand as per market perspective and trends.

One such trending stock is electric vehicle stock. As the natural energy resources are limited and the usage is twice the availability, we are looking for an alternative. The automobile sector is now shifting towards electric vehicles.

With this adoption of electric vehicles, the stock prices of EV stocks are rising.

So let’s see the list of the best electric vehicle stocks to buy in India in 2022.

Electric Vehicle Sector Segmentation

The electric vehicle sector is so huge that it is not limited to manufacturers only; instead, it is divided into four segments.

    1. Auto Manufacturers: this includes assemblers that assemble all the technology and parts required for any EV.
    2. Battery Manufacturers: for any electric vehicle, the battery is the heart of the whole vehicle, so this category includes battery manufacturers
    3. Auto Parts and EV Software: This category includes spare part manufacturers and advanced software required for EVs. 
    4. Charging Stations: batteries of EVs need to be charged on a regular basis, so this category involves the companies that set up the charging stations at different places in the city.

Electric Vehicle Stocks to Buy in India 

Based on four categories of electric vehicles, we are listing the best electric vehicle stocks to buy in India in 2022.

Auto Manufacturers (EV) Electric Vehicle Stocks in India

Tata Motors

With the assistance of partners like Tata Chemicals for batteries, Tata Steel for body structures, and Tata ELXSI for software, it is one of the greatest electric vehicle stock businesses in India.

Tata Motors will have a significant amount of room to grow in the near future. Tata Motors’ closing price, in the last few months, was around Rs. 400.

Maruti Suzuki

Maruti Suzuki is the top brand for entry-level vehicles that are affordable. The business holds the majority of the market share because it is the oldest one.

The only thing is that other businesses have made huge progress in the EV market in a short span of time, but Maruti Suzuki has not done yet.

Sooner or later, the company will introduce an electric vehicle to the market. In the previous months, the share price reached a close of Rs. 7000 (approx).

Mahindra & Mahindra

Aside from the partnership with Reliance Industries, Mahindra & Mahindra is aiming to increase the number of electric vehicles in its lineup.

The company plans to introduce 16 electrified vehicles by 2027, spanning the SUV and light commercial vehicle classes.

Additionally, it intends to spend nearly Rs 3,000 crore over the next three years on the electric vehicle market. The stock price of this company varies from Rs. 800-850.

Hero MotoCorp Limited

As the market is focused on four wheelers electric vehicles, Hero decided to focus on the two-wheeler electric vehicle segment. Hero already established itself with its two-wheeler edition including pleasure, splendour etc.

So it better understands the two-wheeler market in India as it is affordable for the common man too. Talking about the share price of Hero MotoCorp it ranges between Rs. 2300- 2400.

Auto Parts Manufacturers and EV Software Stocks in India

Tata ELXSI Limited

Tata ELXSI is one of the leading software companies known for its contribution to the automobile industry. The company provide new technology software and design for electric vehicle.

It is also estimated that ELXSI will eventually licence this specially created stock software to other auto part manufacturers. The share price of this ELXSI varies between Rs. 8000 – 8700.

Motherson Sumi Systems Limited

One of India’s leading suppliers of automotive components is Motherson Sumi. Due to its immense production capacity, the company has previously acquired several small-scale auto parts makers and started producing parts, particularly for electric vehicles.

As electric vehicle parts are different from normal cars, Motherson Sumi is estimated to grow in the near future and provide services to different businesses. The share price for this company is around Rs. 140.

Battery Manufacturers for Electric Vehicle Stocks in India


One of the oldest and leading players in the list of automobile battery manufacturers is Exide.

Exide use to manufacture lead-ion batteries for typical vehicles but planning to shift to lithium-ion-based batteries for the upcoming electric vehicles. The share price of Exide industries varies between Rs. 150-170.

Tata Chemicals

Tata chemicals have a unique vision of developing an ecosystem to generate batteries by collecting all the raw materials required to make batteries.

With this vision, the company want to fabricate the batteries in their manufacturing plants and use the old batteries in the recycling process. The share price of TATA chemicals is nearly Rs. 1050.

Battery Charging Stations Electric Vehicle Stocks in India

Power Grid Corporation of India Limited

Power Grid Corporation is a government-owned firm that provides high-voltage supply and grid management to businesses including telecommunications. 

The company is likely to install charging stations around the nation. The corporation going to participate in future government contracts and deals with the label of state control. The share price varies between Rs. 200 – 250.

Tata Power Company Limited

As a provider of consumer energy, TATA Power is a well-established organization. With the rapid growth in the number of EV owners in India, TATA Power and TATA Motors have joined hands to build electric vehicle battery charging and switching stations around the nation.

The company has started installing private charging stations at customers’ apartments, registered car service centres, and fast charging stations at numerous public parking spaces like shopping areas.

The share price of TATA Power was estimated to be around Rs. 270.

Final Note

Here in this list of best electric vehicle stocks to buy in India in 2022 we have covered all the segments of electric vehicle stocks.

So with this proper classification of EV stocks, investors get to know all the sectors of the automobile industry in a very clear way.

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