If you’re looking to invest in the best EV stocks in India, now is the right time. The year 2025 is expected to be a turning point for the EV sector shares India. With strong government support, growing demand, and new policies in place, electric vehicle stocks 2025 are showing strong potential for long-term growth.
India has set a bold goal—to make 30% of its vehicles electric by 2030. This move is part of a larger plan to reduce pollution, cut fuel costs, and build a cleaner future. But it’s not just good for the environment—it also creates new investment opportunities.
In the last year, many EV stocks in India have performed well. Companies like Tata Motors, Mahindra & Mahindra, and KPIT Technologies are leading the way. Smaller companies like Servotech and Himadri Speciality Chemicals are also gaining attention for their role in batteries and EV parts.
The government is actively supporting the industry through several schemes. The Electric Mobility Promotion Scheme (EMPS) and FAME II continue to encourage electric vehicle adoption. The PLI scheme supports local manufacturing of EVs and their components. In the Union Budget 2025, ₹4,000 crore was set aside for the PME-DRIVE initiative, and import duties on EV battery parts were reduced.
All these steps are helping the EV sector grow faster and attract more investors. In this blog, we will look at the top-performing electric vehicle shares in India, understand what makes them strong investment options, and explore how you can be a part of this growing trend.
What Are EV Stocks?
If you’ve ever searched for the EV stock meaning or wondered what qualifies as an electric vehicle share in India, here’s a simple explanation.
EV stocks are shares of companies that are directly or indirectly involved in the electric vehicle industry. These companies may be part of different segments of the EV ecosystem, including:
- Original Equipment Manufacturers (OEMs): Companies that make electric cars, bikes, buses, and trucks. Examples: Tata Motors, Mahindra & Mahindra.
- Battery Manufacturers: Firms that produce lithium-ion batteries or other energy storage systems for EVs. Examples: Amara Raja Energy & Mobility, Exide Industries.
- Software & Component Providers: These companies build the technology that powers EVs, such as battery management systems, motors, and sensors. Example: KPIT Technologies.
- Charging Infrastructure Providers: Companies involved in building EV charging stations and related services. Examples: Servotech Power Systems, Tata Power.
So when we talk about EV segment shares, we’re referring to stocks that fall under one or more of these categories. These may include makers of 4-wheelers, 2-wheelers, commercial vehicles, or buses, all contributing to India’s growing electric mobility space.
Understanding the full EV supply chain helps investors make informed choices when selecting the top EV shares in India for their portfolio.
Why Invest in Electric Vehicle Stocks in India?
The Indian EV market is expanding rapidly, and this is opening up strong EV investment opportunities for investors looking to tap into the future of mobility. If you’re wondering why invest in the EV sector, here are three strong reasons.
1. Rising Demand for Sustainable Mobility
With increasing fuel prices and awareness about climate change, consumers are actively switching to electric vehicles. EVs offer low running costs and zero tailpipe emissions, making them a popular alternative to traditional fuel-based vehicles.
2. Strong Government Support
The government is pushing hard for EV adoption through policies and financial support. Incentives under the FAME II scheme, tax benefits, the PLI scheme for auto components, and charging infrastructure subsidies are all boosting the EV stock growth potential. In Budget 2025, over ₹4,000 crore was allocated for the PME-DRIVE scheme, further strengthening this shift.
3. India’s Potential as a Global EV Hub
With its large domestic market, skilled manufacturing base, and policy support, India is positioning itself as a global EV manufacturing and export hub. This adds long-term value to Indian EV companies and their stocks.
So whether you’re a conservative investor or a risk-taker, the future of electric vehicle shares in India looks promising. Choosing the right EV segment shares today can deliver strong returns tomorrow—especially as the world moves toward a cleaner, greener future.
India’s electric vehicle (EV) market is experiencing rapid growth, driven by technological advancements, supportive government policies, and increasing consumer demand for sustainable transportation.
For investors seeking to capitalize on this trend, identifying the top electric vehicle stocks in India is crucial. Below is a curated list of prominent EV-related companies, including their overviews, market performance, key products, EV-specific initiatives, and prevailing market sentiments.
Top Electric Vehicle Stocks in India – 2025
| Company Name | Market Cap (₹ Cr) | PE Ratio | 52W High (₹) | 52W Low (₹) | 1Y Return (%) |
| Tata Motors Ltd | 247,331.42 | 7.88 | 1,179.00 | 606.3 | -32.29 |
| Mahindra & Mahindra Ltd | 316,331.51 | 28.07 | 3,270.95 | 1,891.80 | 37.68 |
| KPIT Technologies Ltd | 34,509.99 | 58.04 | 1,928.70 | 1,142.30 | -14.65 |
| Amara Raja Energy & Mobility Ltd | 18,572.50 | 19.88 | 1,775.95 | 768.3 | 27.64 |
| Exide Industries Ltd | 31,008.00 | 35.37 | 620.35 | 305 | 17.47 |
| Servotech Power Systems Ltd | 2,866.03 | 243.71 | 205.4 | 75.5 | 56.64 |
| Hero MotoCorp Ltd | 75,245.08 | 20.09 | 6,246.25 | 3,461.60 | -19.63 |
| Himadri Speciality Chemical Ltd | 21,521.50 | 52.39 | 688.7 | 302 | 38.06 |
| Ashok Leyland Ltd | 61,391.04 | 24.72 | 264.65 | 166.25 | 19.7 |
| JBM Auto Ltd | 14,330.37 | 80.13 | 1,169.38 | 489.8 | -34.13 |
1. Tata Motors Ltd
Company Overview: Tata Motors, founded in 1945, is a prominent name in the global automotive space. The company manufactures a broad range of vehicles, including passenger cars, SUVs, commercial vehicles, and defense mobility solutions.
Market Performance: The stock has shown strength, recording a 52-week high of ₹1,179.00 and a low of ₹606.30. While it faced some correction recently, its strong push into the electric vehicle segment is expected to support future growth.
Sector & Key Products: Tata Motors operates primarily in the four-wheeler category and has made significant strides in the EV space with models like the Nexon EV and Tigor EV, which are among the top-selling electric cars in India.
EV-Specific Activities: The company is investing approximately $1.5 billion to set up a large-scale battery manufacturing facility in India, expected to begin operations by 2026. This facility will enhance its control over the EV supply chain by producing lithium-ion cells locally.
2. Mahindra & Mahindra Ltd
Company Overview: Mahindra & Mahindra, established in 1945, is a diversified Indian multinational known for producing SUVs, electric cars, and commercial vehicles across various segments.
Market Performance: The stock has performed well, with a 52-week high of ₹3,270.95 and a low of ₹1,891.80, reflecting consistent investor interest and positive business outlook.
Sector & Key Products: A key player in the four-wheeler market, Mahindra has shifted focus towards electric mobility through its “Born Electric” portfolio, which highlights high-performance electric SUVs with longer driving ranges.
EV-Specific Activities: The company is actively working on launching multiple electric SUV models. These upcoming vehicles are expected to feature modern designs, high-end technology, and improved efficiency—strengthening Mahindra’s EV market share.
3. KPIT Technologies Ltd
Company Overview: Founded in 1990, KPIT Technologies is a technology firm that partners with automotive companies to deliver cutting-edge software and engineering solutions, especially in the EV and autonomous vehicle space.
Market Performance: The stock has seen a dynamic range, peaking at ₹1,928.70 and dropping to ₹1,142.30 over the past year. This volatility is matched by strong long-term potential as demand for EV tech grows.
Sector & Key Products: KPIT specializes in electric vehicle technology, offering software platforms for battery management, electric powertrain systems, and advanced driver-assistance systems (ADAS).
EV-Specific Activities: KPIT collaborates with OEMs and EV manufacturers to develop next-generation electric mobility software, contributing significantly to the advancement of connected and autonomous electric vehicles.
4. Amara Raja Energy & Mobility Ltd
Company Overview: Previously operating under the name Amara Raja Batteries, the company is among India’s leading battery manufacturers, serving both industrial and automotive segments.
Market Performance: The company’s stock has remained stable, touching a high of ₹1,775.95 and a low of ₹768.30 in the past year, indicating steady performance and market confidence.
Sector & Key Products: Under the popular brand “Amaron,” the company produces batteries for cars, two-wheelers, and increasingly, electric vehicles. It plays a crucial role in the Indian EV supply chain.
EV-Specific Activities: Amara Raja is actively scaling its presence in the EV ecosystem by investing in lithium-ion battery manufacturing and exploring energy storage systems for electric mobility and grid applications.
5. Exide Industries Ltd
Company Overview: Exide Industries is one of India’s most trusted names in energy storage solutions, with decades of experience in manufacturing automotive and industrial batteries.
Market Performance: The stock has shown a strong presence, with a 52-week high of ₹620.35 and a low of ₹305.00. It has delivered steady returns backed by consistent performance.
Sector & Key Products: Operating in the battery manufacturing space, Exide produces a wide range of products, including batteries for traditional vehicles, electric vehicles, and industrial uses.
EV-Specific Activities: Exide is actively building capacity in lithium-ion battery manufacturing through its subsidiary — Exide Energy — and is setting up a large-scale gigafactory to support India’s EV transition.
6. Servotech Power Systems Ltd
Company Overview: Servotech is a growing technology company engaged in the manufacturing of energy-efficient solutions including solar products, power backup systems, and EV charging infrastructure.
Market Performance: This smallcap stock has gained momentum with a 52-week high of ₹205.40 and a low of ₹75.50, delivering over 50% returns in the last year.
Sector & Key Products: Servotech operates in the electrical components sector, with a focus on EV chargers, solar inverters, and smart power solutions.
EV-Specific Activities: The company is expanding its EV charging solutions across India, aiming to support the country’s goal of building a robust public charging network.
7. Hero MotoCorp Ltd
Company Overview: Hero MotoCorp is one of the largest two-wheeler manufacturers in the world and a household name in India’s automotive industry.
Market Performance: Despite a 52-week high of ₹6,246.25, the stock has seen some correction, currently trading near ₹3,762.05, reflecting mixed investor sentiment amid its EV transition.
Sector & Key Products: Hero operates in the two-wheeler segment and has recently launched its EV brand VIDA, marking its entry into the electric scooter market.
EV-Specific Activities: Hero is investing in EV manufacturing units and technology partnerships, including collaborations for battery swapping and connected mobility.
8. Himadri Speciality Chemical Ltd
Company Overview: Himadri is a specialty chemical manufacturer that supplies materials for various industries including energy storage, construction, and textiles.
Market Performance: The company has delivered impressive returns, with its stock climbing from ₹302.00 to a high of ₹688.70 within the year — reflecting over 100% gains.
Sector & Key Products: Himadri’s core product line includes advanced carbon materials, which are essential for lithium-ion battery anodes used in EVs.
EV-Specific Activities: The company is scaling up its focus on supplying high-grade carbon materials and additives tailored for battery manufacturers in the EV sector.
9. Ashok Leyland Ltd
Company Overview: Ashok Leyland is a major Indian manufacturer of commercial vehicles such as buses, trucks, and heavy-duty transportation vehicles.
Market Performance: The stock has moved between ₹166.25 and ₹264.65 over the past year and continues to draw investor interest for its evolving EV portfolio.
Sector & Key Products: Focusing on commercial mobility, Ashok Leyland produces electric buses and is developing modular EV platforms for intra-city and inter-city transport.
EV-Specific Activities: Its EV subsidiary Switch Mobility is leading its electric transformation, aiming to electrify both cargo and passenger transport segments.
10. JBM Auto Ltd
Company Overview: JBM Auto is a prominent supplier of automotive parts and systems and is now making waves with its electric mobility solutions.
Market Performance: The stock has seen a wide swing over the year, with a 52-week high of ₹1,169.38 and a low of ₹489.80. Despite volatility, long-term potential remains intact.
Sector & Key Products: The company’s portfolio includes electric buses, battery packs, and charging solutions, making it a vertically integrated player in the EV segment.
EV-Specific Activities: JBM is actively deploying its electric buses across multiple Indian cities and is also building smart EV infrastructure through its mobility ecosystem model.
High-Performance Smallcap EV Stocks
In India’s fast-evolving EV landscape, some smallcap EV stocks have shown impressive performance, turning into multibagger EV shares in 2025. These rising companies may not yet be household names, but their returns and aggressive expansion in the electric mobility space are catching investors’ attention.
1. Servotech Power Systems Ltd
Servotech has emerged as one of the most exciting high return EV stocks in the smallcap space. Specializing in EV charging stations and solar energy solutions, the stock has delivered over 50% returns in the past year alone. The company continues to expand its EV charging footprint across highways and metro cities, contributing to India’s growing charging infrastructure.
2. Himadri Speciality Chemical Ltd
Himadri, a leader in advanced carbon materials, supplies critical inputs for lithium-ion batteries. As demand for battery components rises, Himadri has delivered stellar growth. It has rewarded shareholders with multibagger gains, thanks to its early-mover advantage in supplying to battery and EV manufacturers.
3. JBM Auto Ltd
JBM Auto is another promising smallcap EV stock in India. From electric bus manufacturing to EV charging solutions, the company offers end-to-end mobility solutions. Its partnerships with city transport departments and aggressive EV rollout plans have made it a top pick for investors looking at future-focused transport companies.
These companies highlight the potential that lies beyond large caps. For those seeking growth, innovation, and exposure to niche EV segments, multibagger EV shares in 2025 from the smallcap universe may offer significant long-term value.
Union Budget 2025 Highlights for the EV Sector
The EV Budget 2025 India has given a major push to the electric mobility sector, reinforcing the government’s commitment to cleaner transportation. Several important policy moves were announced, opening new avenues for investors and EV manufacturers.
₹4,000 Cr Allocation to PME-DRIVE Scheme
One of the standout measures in the budget was the massive ₹4,000 crore allocation under the PME-DRIVE (Prime Minister Electric Drive Revolution for Innovative Vehicle Enhancement) scheme. This is a substantial jump from the ₹1,870 crore allocation in the previous year, aimed at speeding up EV adoption across public and private transport.
Custom Duty Cuts on EV Battery Components
To reduce the cost of electric vehicles, the budget proposes cutting import duties on key battery materials like lithium-ion battery scrap, cobalt, and graphite. This move is expected to bring down the production cost of batteries, making EVs more affordable.
Boost to PLI Scheme for EVs
The PLI scheme for EVs, focused on local manufacturing of electric vehicles and auto components, received an allocation of ₹2,818 crore in this year’s budget—up from ₹346 crore last year. This ensures consistent support for domestic players in scaling up their production capabilities.
FAME II Phase-Out Impact
While FAME II continues operationally, no fresh allocation was made in the budget. This suggests a transition toward new schemes like PME-DRIVE and reliance on targeted incentives.
Together, these steps underline the government’s intent to make India a global hub for EV manufacturing, supply chain, and innovation—making it a promising year for investors tracking PLI scheme for EVs and the PME-DRIVE scheme details.
How to Pick the Best EV Stocks for Your Portfolio
If you’re wondering how to select EV stocks, focus on a few key factors to make informed decisions. Start with the company’s financial health, looking at consistent revenue growth, profitability, and strong ROE/ROCE ratios. These indicators suggest how efficiently a company manages capital.
Next, evaluate product innovation and R&D investments. The best EV stocks to buy in India often lead in developing new electric models, battery tech, or charging solutions.
Strategic partnerships with battery manufacturers, software firms, or mobility tech companies add strength and scalability.
Finally, review the company’s market share and long-term EV vision. Firms with a clear roadmap for EV rollout and sustainability goals are better positioned for growth.
By focusing on these aspects, your EV stock analysis becomes more structured, helping you build a future-ready portfolio.
Risks and Considerations Before Investing
While the EV sector holds promise, investors must also consider the EV investment risks before jumping in. One major concern is valuation risk — several EV stocks are trading at high price-to-earnings ratios, driven by optimism rather than stable fundamentals. These inflated prices may not hold if company performance doesn’t keep up with expectations.
Another challenge is regulatory uncertainty. Government policies like subsidies, tax breaks, or import duty changes can significantly impact revenues, especially for smaller or emerging EV firms.
The EV market is also witnessing intense competition, not just from established players but also new startups and global giants entering India. This can lead to price wars, reduced margins, and increased pressure on companies to innovate quickly.
Additionally, technological disruptions such as breakthroughs in hydrogen fuel or alternative battery chemistries could shift the market dynamics.
Being aware of these challenges in EV sector India will help investors better navigate EV stock market volatility and build a more resilient portfolio.
Conclusion: The Road Ahead for EV Stocks in India
The future of EV stocks in India looks bright, backed by strong government support, growing environmental awareness, and rapid innovation. As the country moves toward a greener future, electric vehicles are set to play a vital role in reshaping the mobility ecosystem.
Investing in the EV sector also supports sustainable investing, aligning financial goals with environmental impact. From established automakers to rising battery and infrastructure firms, Indian companies are steadily becoming important players in the global EV supply chain.
For investors, the key lies in picking long-term EV stock picks based on sound fundamentals, strong management, and a clear electric roadmap. Diversifying across different EV segments — automakers, battery producers, and tech providers — can help mitigate risks.
With strategic selection, a good stock broking platform, and a long-term view, the 2025 EV stock outlook presents not just a market trend but a transformative opportunity for forward-thinking investors.
FAQs
Which are the best EV stocks to buy in India?
Some of the best performing EV stocks to buy in India in 2025 include:
- Tata Motors – Strong EV portfolio and battery gigafactory plans
- Mahindra & Mahindra – Focused on electric SUVs with the “Born Electric” series
- KPIT Technologies – Leading automotive software provider for EVs
- Exide Industries – Expanding into lithium-ion battery manufacturing
- Servotech Power Systems – Fast-growing EV charging infrastructure company
These companies are well-positioned within the EV value chain and have strong long-term growth potential.
What will EV market share be in 2025?
India’s electric vehicle market is expected to reach 10–15% market share by 2025 in overall vehicle sales, with even higher penetration in two-wheelers and three-wheelers. The government’s EV policies and rising consumer demand are accelerating this shift.
Who is the No. 1 EV company in India?
As of 2025, Tata Motors is considered the No. 1 EV company in India in terms of market share, product adoption, and overall contribution to EV sales. Its models like Nexon EV and Tigor EV have become popular choices among Indian consumers.
Is it a good time to invest in EV stocks?
Yes, many analysts believe 2025 is a strong time to invest in EV stocks. With supportive government policies, infrastructure development, and rising adoption rates, the EV sector is in a high-growth phase. However, it’s important to evaluate each stock’s fundamentals and your own risk tolerance before investing.
