The electric vehicle (EV) sector in India is growing rapidly, supported by strong government policies, rising fuel costs, and increasing demand for cleaner mobility. As a result, many investors are now exploring the best EV stocks in India to take advantage of this transformation.
From large automakers expanding their electric lineups to companies building charging infrastructure and advanced batteries, there are opportunities across the entire EV value chain. However, with the sector still evolving, not all stocks offer the same potential. That’s why it’s important to look beyond just popular names and understand which EV sector stocks in India show strong fundamentals, future growth, and industry relevance.
In this guide, we’ll explore some of the top electric vehicle stocks and EV penny stocks in India, along with key insights to help you make informed investment decisions in this high-potential space.
For those interested in the Top electric vehicle stocks in India, here’s a quick glance at the top companies leading the EV revolution. This table includes the past 3-year returns of these stocks along with their focus in the EV segment.
| Best EV Stocks in India | EV Segment | 3-Year Returns (%) |
|---|---|---|
| 1. Servotech Power Systems Ltd | EV Charging Solutions | 2110.11% |
| 2. Himadri Speciality Chemical Ltd | Battery Materials | 634.48% |
| 3. JBM Auto | Electric Buses and Charging Stations | 208.98% |
| 4. Mahindra and Mahindra Ltd | Electric SUVs and Commercial Vehicles | 198.86% |
| 5. NTPC Ltd | EV Charging Infrastructure | 113.63% |
| 6. Endurance Technologies Ltd | EV Components (Brakes, Suspensions) | 94.15% |
| 7. Olectra Greentech Ltd | Electric Buses | 82.56 |
| 8. Hero MotoCorp | Electric Two-Wheelers | 106% |
| 9. Tata Motors Ltd | Electric Cars and SUVs | 64.4% |
| 10. Indian Oil Corporation Ltd | EV Charging Infrastructure | 19.86 |
Investing in electric vehicle (EV) stocks in India is gaining traction as the EV sector continues to grow rapidly. With a projected market value of $34.80 billion by 2024, expected to reach $110.74 billion by 2029, this sector offers one of the best investment opportunities for those looking to capitalize on long-term growth in a future-focused industry.
Here are some key reasons to consider investing in the best electric vehicle stocks in India:
With these strong growth drivers and government support, now could be the perfect time to invest in the best EV stocks in India and benefit from this rapidly evolving market.
These companies are leading the way in the EV sector and offer some of the best electric vehicle stocks in India to consider for investment. Below is an overview of the top 10 EV stocks to watch in 2025:
Servotech Power Systems is gaining traction as an innovative player in the EV space, primarily focusing on EV charging solutions. This company is ideal for investors looking into EV penny stocks in India with high growth potential, thanks to its focus on technology and infrastructure development.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 90.39 | 2110.11 | 12904.96 |
Himadri Speciality Chemical is emerging as a key player in the EV battery segment, focusing on advanced carbon materials used in battery manufacturing. This makes it one of the promising electric vehicle battery stocks in India, especially for those interested in the EV supply chain.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 48.31 | 634.48 | 954.9 |
JBM Auto is making significant inroads into the EV sector with its electric buses and charging solutions. As an emerging player, JBM Auto offers a balanced exposure to both vehicle manufacturing and charging infrastructure, making it a versatile option.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| -33.98 | 208.98 | 1730.49 |
Known for its strong presence in both passenger and commercial vehicles, Mahindra is aggressively expanding its EV offerings. With plans to launch multiple electric models, Mahindra is positioning itself as a top contender in the list of best EV stocks in India for 2025.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 14.67 | 198.86 | 557.53 |
NTPC, India’s largest power utility, is stepping into the EV market by installing EV charging stations. This makes NTPC an intriguing choice, especially for those interested in companies that bridge the gap between power generation and electric mobility.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| -5.2 | 113.63 | 236.43 |
Endurance Technologies is expanding its wings into the EV sector, manufacturing the components required for an electric vehicle, including braking systems and suspension. This strategic move makes Endurance Technologies one of the leading electric vehicle companies in India, catering to both EV and traditional automotive groups.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| 2.68 | 94.15 | 206.48 |
Olectra Greentech is at the forefront of electric bus manufacturing in India. With a strong focus on public transportation, Olectra is a solid choice among India's best EV stocks for investors looking to capitalize on the growing demand for electric mass transit solutions.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| -27.75 | 82.56 | 1653.44 |
As the world’s largest two-wheeler manufacturer, Hero MotoCorp is venturing into the electric vehicle market with its electric scooters. Given its vast distribution network and brand reputation, Hero is poised to be a leading name in the best EV stocks in India for two-wheeler enthusiasts.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| -22.84 | 68.07 | 79.1 |
The Tata Motors Company comes off as one of the biggest players in India's automobile sector, and in recent times, it has taken giant strides in the EV market with its Nexon and Tigor EV models. Being one of the best EV stocks in India, Tata Motors is heavily investing in electric vehicle technology and building its EV lineup while eyeing a huge market share in the years to come.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| -24.24 | 64.4 | 515.68 |
Indian Oil is not only a seller of oils but has invested in the upcoming electric mobility segment by strategically installing EV charging stations across the country. This diversification makes it an attractive choice among all the EV stocks in India, especially for those looking to diversify their portfolio with both Energy and EV sectors.
Returns:
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
|---|---|---|
| -13.88 | 19.86 | 127 |
If you’re interested in the EV sector’s backbone, battery stocks are a great place to look. Batteries are crucial for electric vehicles, and investing in the best electric vehicle battery stocks in India can offer solid returns as the demand for EVs continues to rise.
| Best EV Battery Stocks | 3-Year Returns (%) |
|---|---|
| HBL Engineering | 512.47 |
| Exide Industries Ltd | 168.17 |
| Amara Raja Energy & Mobility Ltd | 65.85 |
| Neogen Chemicals | 13.41 |
| Tata Chemicals | -1.46 |
Investing in the best electric vehicle stocks in India offers exciting growth opportunities, but making informed decisions requires evaluating several critical factors.
By focusing on these factors, you can choose the best EV stocks in India that offer growth potential while managing risk effectively.
The electric vehicle market in India is evolving, driven by several key trends that investors and companies should watch closely.
Yes, EV stocks in India can be a smart long-term investment, especially with government backing through the FAME scheme and growing demand. That said, EV shares in India are still volatile and require careful selection.
India’s electric vehicle (EV) revolution is charging ahead, and the stock market is responding in kind. Thanks to schemes like FAME-II and growing consumer interest, EV stocks India are becoming more attractive to investors looking for future-focused sectors.
With both legacy players (like Tata Motors, Mahindra & Mahindra) and aggressive startups making waves, the space offers ample room for capital appreciation. But make no mistake — this industry is still evolving. Rapid policy changes, battery technology shifts, and infrastructure gaps can lead to stock price volatility.
If you’re eyeing EV shares India, it’s crucial to:
The good news? As of June 2025, EV adoption in India has crossed 4.1 million units, and EV stocks have outperformed several traditional auto stocks over a 3-year horizon.
The Union Budget 2024–25 has had a major influence on India's electric vehicle (EV) ecosystem, accelerating both policy momentum and investor interest. With EV adoption expected to cross 4 million units in FY2025, the government’s strategic push is more important than ever. Here’s how the budget is reshaping the EV landscape:
Choosing the best electric vehicle stocks in India requires careful analysis. The EV market is booming, but not every stock offers the same potential. Here are some key factors to keep in mind:
Focusing on these factors, you can identify the best EV stocks in India with the potential for growth and profitability in the fast-evolving electric vehicle sector.
The electric vehicle (EV) sector in India can be categorised into four distinct segments, each playing a vital role in the industry’s growth:
Each segment offers unique opportunities for investment, contributing to the overall growth and sustainability of the EV market in India.
Investing in India's best electric vehicle stocks offers a promising opportunity as the EV industry is poised for significant growth, driven by government support and increasing consumer demand for sustainable transportation. Whether you're looking at established companies like Tata Motors and Mahindra & Mahindra or exploring higher-risk EV penny stocks in India, there's potential for substantial returns. However, staying informed about market trends, government policies, and technological advancements is essential to making well-rounded investment decisions in this rapidly evolving sector.
Some of the top electric vehicle battery stocks in India include companies like Exide Industries and Amara Raja Batteries. These companies are well-positioned to benefit from the growing demand for EV batteries as the industry expands.
While EV penny stocks in India carry higher risks, they can offer significant upside potential. Companies like JBM Auto and Himadri Speciality Chemical are worth considering, but thorough research is crucial before investing.
Some of India's top electric vehicle stock include companies like Tata Motors Ltd, JBM Auto, Himadri Speciality Chemical Ltd, Mahindra and Mahindra Ltd and NTPC Ltd for long-term growth, which have given robust returns in past 3 years.
When investing in EV stocks in India, consider factors such as the company's market share, technological advancements, financial health, and growth prospects. It’s also important to stay updated on government policies and industry trends.
Yes, EV stocks in India have strong long-term potential due to the growing focus on sustainable transportation and government support. However, like all investments, they come with risks, and it's essential to do thorough research before investing.
Companies like Tata Power and Fortum India are leading the way in developing the EV charging infrastructure in India, which is crucial for supporting the widespread adoption of electric vehicles.
The Indian government supports the EV sector through subsidies, tax incentives, and policies aimed at boosting manufacturing and infrastructure. The FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme is one such initiative that has been instrumental in promoting EVs in India.
Disclaimer: This article is for educational purposes only and should not be considered financial advice. Always conduct your research and consider consulting with a financial advisor before making any investment decisions.
