Best Electric Vehicle Stocks in India: In 1994, Infosys made a little bit of money, about 15 crore rupees. But today, they’re making tanks of money, around 150,000 crore rupees every year. That’s 10,000 times more. Well, it’s a bit like what’s happening with electric cars in the EV industry right now. Just like how the computer industry was in 1994, the electric car industry is on the rise. Over the next 30 years, we’ll see a big change on Indian roads, with lots of electric cars. This is the best time to invest in these 3 best EV stocks.
Best Electric Vehicle Stocks in India in 2023
The electric car future isn’t a dream, nowadays EV industry is rising very fast. Shailesh Chandra, who leads Tata Motors, thinks India will have 1 million electric cars by 2030. Balbir Singh Dhillon, the head of Audi India, says that 50% of car sales will be electric by 2030. And the electric car industry is growing super fast, about 49% every year from 2022 to 2030.
1. Mahindra Electric Automobile
Our first pick is Mahindra Electric Automobile Limited, or “MeAL.” It’s a part of the Mahindra and Mahindra Group. It started in October 2022, and even though it’s not a public company, you can invest in it by buying Mahindra and Mahindra shares.
There are lots of reasons why Mahindra and Mahindra are a big deal in the electric car world. First, they’re really good at making SUVs. In July 2023, SUVs made up almost 50% of all car sales. Mahindra’s Scorpio SUV is doing great, with a 114% increase in sales from last year.
They also have a new plan called ‘Inglo’ that will help them make more electric cars. And they’re working with a Chinese company to get batteries for their electric cars. This all shows that they’re serious about electric cars.
Financially, Mahindra and Mahindra are doing well. They’ve seen a 35% increase in revenue, a 35% rise in EBITDA, and a 56% growth in net income. Plus, their stock is a good deal right now, with a low P/E ratio.
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2. Amara Raja Batteries
Our second pick is Amara Raja Batteries. They’re the second-biggest battery maker in India. They’re an important part of the electric car world because they make batteries for them. They have a big share of the market, about 35%.
They’re also getting into making lithium-based batteries, and they’re investing a lot of money, about 9500 crore rupees, in a big factory for that. Financially, they’re doing well too. They’ve had consistent growth in operating income and EBITDA. And their stock is a good deal right now with a low P/E ratio.
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3. Samvardhana Motherson International Limited
Our third pick is Samvardhana Motherson International Limited. It’s run by an Indian guy living in Australia. They make car parts and are a big part of the electric car world too. About 20% of their business comes from making stuff for electric cars. This is one of the best stocks.
They had a tough time with their stock in 2022, but they’re financially strong. They have a low P/E ratio, which means their stock is a good deal right now.
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