EV Stocks to Watch as Charging Infrastructure Expands Across India
As an investor, have you noticed the buzz around EVs in India in the last few years? With a bold target of achieving 30% EV penetration by 2030, India is driving a revolution in sustainable transportation. With the charging infrastructure expanding across the country, investors are looking to put their money in EV stocks that are likely to deliver returns in the coming years.
The government has been proactive in promoting the adoption of EVs with schemes like FAME II and EMPS 2024. Currently, leading automotive companies in India are ramping up their EV production. Let’s check out some of the top EV stocks to watch as the country’s charging infrastructure expands.
5 EV Stocks to Watch
We have curated five top EV stocks with potential to deliver high returns.
1 Tata Motors
Tata Motors is a pioneer in the automotive industry in India. With an investment of INR 18,000 crore on EVs till 2030, the company is set to lead the charge in electric mobility.
As a part of the Tata Group, the company has set ambitious goals to achieve a 20% EV mix by 2030. While the Tata Nexon EV has been gaining popularity, the company plans to launch ten new EV models by 2026. Models like the Sierra EV and Harrier EV are already on the radar of buyers.
The company is also making significant investments in charging infrastructure and advanced technologies.
2 Mahindra and Mahindra
M&M has been a leader in the automotive industry in India. With the charging infrastructure in India shaping up fast, the company is making bold strides in the EV segment.
Mahindra and Mahindra has launched groundbreaking models like the BE 6 and XEV 9e SUVs, equipped with advanced BYD battery technology. In 2025, the company further plans to expand its EV portfolio. Between 2025 and 2030, the automotive brand is likely to launch 7 new EVs. Investors are closely watching its stock prices as the company penetrates deeper into EV production.
3 Maruti Suzuki
The largest automaker in India, Maruti Suzuki, is bracing up to launch its first EV, the eVitara, in January 2025. Beyond vehicles, the company also has plans to set up a holistic EV ecosystem that includes charging stations and home charging solutions.
The automotive brand also plans to export its products to markets in Europe and Japan. With its upcoming EV models targeting the commercial and passenger vehicle markets, this stock should be on your radar. The company also plans to be on top of consumer vehicles sales, which was dethroned by Tata in 2024. This didn’t go well with the Maruti Suzuki share price.
4 Ashok Leyland
Ashok Leyland is a top player in the commercial vehicle market in India. The company has started delivering electric trucks under an INR 150 crore order from Billion Electric Mobility, which includes 45 Avtr 55-ton electric tractors and 135 Boss electric intermediate commercial vehicles (ICVs).
The company is also establishing a new electric truck manufacturing line at its Hosur facility with an initial capacity of 5,000 vehicles annually. The stock price of Ashok Leyland has increased by over 167% in the last 5 years, sending a strong message to its investors.
The Ennore EV facility of the company further strengthens its position in the EV sector, offering integrated capabilities for design, prototyping, and testing. With initiatives like new EV platforms and modular energy management, the company is set to revolutionize the commercial EV landscape in India.
5 Bajaj Auto
Bajaj Auto is primarily focussing on electric two-wheelers and three-wheelers. The company has plans to expand its electric three-wheeler network to 70 to 80 cities, besides investing INR 400 crore to develop a new manufacturing facility.
With a sales target of 15,000 Chetak EV units per month, the automaker is likely to benefit from the growing EV market. Moreover, Bajaj will launch five new electric three-wheelers, including an e-rickshaw by FY26.
Conclusion
As the EV revolution picks up pace in India, automotive stocks present lucrative options to investors. With developments in the charging infrastructure catching up with global trends, key players are likely to grow in the years to come. Keep an eye on these stocks and capitalize on the booming sustainable automotive market. You can visit influencer gone wild for more trending posts.
