Best Electric Vehicle Mutual Funds in India: Top EV Stocks and Market Insights
1. Olectra Greentech Ltd: A subsidiary of Megha Engineering, Olectra boasts a 91.85% 1-year return, specializing in electric bus manufacturing and regenerative braking systems.
2. Exide Industries Ltd: A leader in battery manufacturing, Exide Industries is expanding into EV-specific batteries, showing promising signs of profitability and revenue growth.
3. Tata Motors Ltd: As one of India's oldest automobile manufacturers, Tata Motors offers a range of electric vehicles, including Tata Nexon EV Prime and Tata Tigor EV, with strong analyst recommendations.
4. Amara Raja Batteries Ltd: The second-largest automotive battery producer in India, planning a Gigafactory investment, with a 21.08% 1-year market share price growth.
5. Mahindra & Mahindra Ltd: Known for their XUV400 electric vehicle, M&M is a prominent player in the industry, with an impressive profitability score.
6. Power Grid Corporation of India Ltd: India's largest Electric Power Transmission Utility, with EV charging stations across the country, displaying exceptional profitability.
7. Hero MotoCorp Ltd: The leader in the EV two-wheeler market, offering a range of electric models and a solid profitability score.
8. Motherson Sumi Systems Ltd: A major auto parts manufacturer diversifying into electric vehicle components, with a 1-year growth of 1.63% and a strong profitability score.
Electric Vehicles' Growth in India: Experts predict a 49% annual growth rate in the EV market by 2030, with annual sales potentially exceeding 17 million. Factors include technological advancements, rising fuel prices, and concerns about emissions.
The rapidly evolving EV sector in India presents opportunities for investors, but thorough research is essential before investing in any stock. Stay informed and consider your options wisely.