Top 16 Electric Vehicle Stocks in India | EV Stocks to buy in India 2021-22

Top 16 Electric vehicle stocks to buy in India 2021-22 : The EV Electric Vehicle sector has four major segments which includes Auto Manufacturing, Auto Parts/EV Software Manufacturing, Batteries Manufacturing and Charging Infrastructure development. Here we have listed all the major companies from all of these segments with few key details where you can do your investment. Below listed all the companies are listed on NSE/BSE.

Electric Vehicles EV Stocks in India 2021-22
Electric Vehicles EV Stocks in India 2021-22

Tata Motors

Tata Motors is the largest Electric Vehicle EV player in the country with two fully electric models Nexon EV and Tigor EV – in the market. Tata Motors would accelerate its presence in electric vehicles with plans of having 10 battery electric vehicles in less than four years

EV SegmentAuto Manufacturing
Parent CompanyTata Motors Limited
Market Cap₹ 1,00,837.75 Cr

Mahindra & Mahindra

Mahindra & Mahindra Ltd is going to invest Rs 3,000 crore on its electric vehicles business in the next three years. M&M is working on developing on an EV platform by combining capabilities of its operations across the globe.

EV SegmentAuto Manufacturing
NSE SymbolM&M
Parent CompanyMahindra and Mahindra Limited
Market Cap₹ 95,831.50 Cr.

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Maruti Suzuki

Maruti Suzuki India Limited, an automobile company is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles). Maruti Suzuki is aiming to launch its first electric vehicle by 2025. India would be the first country to see the new EV, followed by Japan and Europe. This move is expected to accelerate the adoption of electric vehicles.

EV SegmentAuto Manufacturing
Parent CompanyMaruti Suzuki India Limited
Market Cap₹ 2,17,479.52 Cr.

Hero Moto Corp

Hero MotoCorp, India’s largest two-wheeler manufacturing company, is exploring business models in the areas of EV batteries and charging networks to generate new revenue streams. The company will launch its first-ever electric two-wheeler in FY22 in an attempt to grab a slice of the expanding market for battery-powered electric vehicles.

EV SegmentAuto Manufacturing
Parent CompanyHero MotoCorp Limited
Market Cap₹ 56,322.77 Cr.

Himadri Speciality Chemical Limited

The Himadri Group, a vertically integrated speciality carbon company, has forayed into e-mobility solutions and formed a new corporate entity Motovolt Mobility Private Ltd. It is looking to invest ₹100 crore for the manufacture of battery powered e-cycles.

SectorChemical/Carbon Manufacturing
Parent CompanyHimadri Speciality Chemical Limited
Market Cap₹ 2,128.34 Cr.
Child EntityMotovolt Mobility Private Limited
EV SegmentAuto Manufacturing

Greaves Cotton

Greaves Cotton Limited which is a diversified engineering company and a leading manufacturer of engines and heavy equipment has acquired few electric vehicle manufacturing companies which includes Ampere Vehicles Pvt. Ltd, Bestway Agencies Pvt. Ltd to step in to the e-mobility world.

EV SegmentAuto Manufacturing
Parent CompanyGreaves Cotton Limited
Market Cap₹ 3,721.27 Cr.

Motherson Sumi Systems Limited

Motherson Sumi Systems Limited is a system solutions provider to automotive and other industries, offering services from design and prototyping to production and delivery of solutions across a range of products. Motherson Sumi Systems Ltd. is targeting to triple annual sales to $36 billion by 2025.

EV SegmentAuto Parts and EV Software
Parent CompanyMotherson sumi systems limited
Market Cap₹ 74,748.30 Cr.

Tata Elxsi Limited

Tata ELXSI Limited offers Driver Management Services, V2X, Connected Digital Cockpit, Adaptive AUTOSAR, ADAS, AS & AD, Autonomous Driving Middleware Platform, RoboTaxi, and Autonomous Driving Simulation Environment to help build new age and futuristic automobiles with an intuitive passenger experience. Tata ELXSI Limited is one of the company of Tata Group progressing in EV world.

EV SegmentAuto Parts and EV Software
Market Cap₹ 26,909.03 Cr.

Tata Chemicals Limited

Tata Chemicals Limited (TCL), a subsidiary of Tata Group involved in producing chemical products, the company is working on producing batteries. Recently Tata Chemicals & ISRO has signed MoU For lithium ion battery tech which will help EV Growth in India. Tata Chemicals has market cap of ₹ 19,673.55 Cr.

EV SegmentBattery Manufacturing
Parent CompanyTata Chemicals Limited
Market Cap₹ 19,673.55 Cr.

Amara Raja Batteries

Amara Raja Batteries Ltd has unveiled plans to transform itself into an energy and mobility solutions provider from just a maker of batteries for automotive and other sectors. From these new ventures, the company expects to double its compound annual growth rate (CAGR) to 16% or above from the current 7-8%

EV SegmentBattery Manufacturing
Parent CompanyAmara Raja Batteries Limited
Market Cap₹ 12,374.51 Cr.

Exide Industries

Exide Industries Limited is a storage battery company. The Company designs, manufactures, markets and sells a range of lead acid storage batteries. In June 2018, Exide Industries and Leclanche, a global energy storage solutions provider, formed a joint venture (JV) to build lithium-ion batteries and provide energy storage systems for India’s EV market and grid-based applications.

EV SegmentBattery Manufacturing
Parent CompanyExide Industries Limited
Market Cap₹ 14,705 Cr.

Tata Power

Tata Power, a subsidiary of Tata Group is working in EV charging infrastructure development. Tata Power is planning to increase its network of electric vehicle charging stations to 700 by next year. The company has already installed 100 fast charging stations in various cities, including Delhi, Mumbai, Bengaluru, Pune and Hyderabad, which it plans to take to 300 by March 2020.

EV SegmentEV Charging Infra Provider
Parent CompanyTata Power Company Limited
Market Cap₹ 42,370.20 Cr.

Power Grid

Power Grid Corporation of India Limited is transmission company engaged in the a power transmission business with responsibility for planning, implementation, operation and maintenance of Inter State Transmission System and operation of National and Regional Load Dispatch Centers. This PSU has started working on EV charging infrastructure development and energy storage solutions.

EV SegmentEV Charging Infra Provider
Parent CompanyPower Grid Corporation Of India Ltd.
Market Cap₹ 1,21,686.78 Cr.


NTPC, a government owned PSU company, has started working on EV charging infrastructure development. Recently NTPC signed MoUs with Vehicle Aggregators Ola, Lithium, Shuttl, Bikxie, Bounce, Electrie and Zoom Car for development and utilization of public charging infrastructure.

EV SegmentEV Charging Infra Provider
Parent CompanyNTPC Limited
Market Cap₹ 1,14,081.28 Cr.

Indian Oil Company Ltd

Indian Oil Corporation has also jumped into EV sector to boost it’s business. IOC is remodelling business by continuing running fuel business, while at the same time turning petrol pumps into energy outlets that offer EV charging points and battery swapping options besides conventional fuels as it looks to make itself future-ready.
IOC is one of India’s largest fuel station network which will help the company to setup it’s charging infrastructure rapidly.

EV SegmentEV Charging Infra Provider
Parent CompanyIndian Oil Corporation Limited
Market Cap₹ 99,931.30 Cr.


Bharat Heavy Electricals Limited, the power equipment manufacturer has forayed in the e-mobility business as part of its diversification initiative. As part of the drive, BHEL has forayed into manufacturing of EV chargers, electric buses and related critical components. It has also taken up in-house development of EV motors, propulsion systems and fast chargers.

EV SegmentEV Charging Infra Provider
Parent CompanyBharat Heavy Electricals Ltd
Market Cap₹ 20,265.61 Cr.