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Best EV Stocks for Investment 2023 and Beyond

EV Stocks – Electic vehicles (EV) and EV Technology are becoming part of our life. After petrol, diesel, and CNG vehicles, Electric vehicles are becoming an alternative mode of transport technology. It is seen that the government of India is also promoting EV technology and providing tax benefits for the same. Some of the cities like Surat is promoted as Electric vehicle city and the government has already built EV charging station and all other required facilities. As of March 2022, the number of EVs on Indian roads had surpassed one million. This number is likely to grow to 45-50 million EVs on the road by 2030. This presents an enormous opportunity for players in the EV charging ecosystem. 

Looking at radical growth many businesses have jumped on board for early adoption and development of low-cost EV technology.

Current companies may also be pursuing this transition in an attempt to catch up to the standards set by companies such as Tesla before it’s too late. Due to radical growth in EVs, EV stocks are becoming lucrative and the most popular investment option. EV Stocks are going to give you better returns in the days to come. So, in this post, I will be sharing the Best EV Stocks for Investing in 2023 and beyond.

Factors to consider before investing in EV Stocks 

Selecting electric vehicle (EV) stocks involves conducting thorough research and considering various factors. Here are the top factors to consider for selecting EV stocks.

Understand the EV Industry 

You should get yourself aware of the electric vehicle industry. Learn about market trends, government regulations, and the competitive landscape. Stay updated with the latest news and advancements in EV technology.

Research the EV Market

You should analyze the size and potential of the electric vehicle market. Consider factors like the adoption rate of EVs, infrastructure development (charging stations), and government incentives. Look for companies that have a significant market share or are well-positioned to capture future growth.

Check Vehicle Models and Technology 

You must check the EV companies’ vehicle models and technology offerings. Evaluate their range, charging capabilities, battery technology, safety features, and autonomous driving capabilities. Companies with innovative and competitive products may have an edge in the market.

Consider Partnerships and Alliances 

If the company has done partnerships or alliances you should check that. Collaborations with established automakers, tech companies, or energy providers can provide advantages in terms of technology, distribution, and market access.

Evaluate the Company

Assess the financial health, management team, and business strategy of the EV companies you’re considering. Look at their track record, revenue growth, profitability, and debt levels. Evaluate their competitive advantages, such as technological innovation, brand recognition, or manufacturing capabilities.

EV Stocks Investment

Best EV Stocks for Investment 2023 and Beyond

#1 Tata Motors Ltd

Tata Motors is an Indian MNC and one of the biggest automotive manufacturing companies that produces electric vehicles. Tata is already selling Nexon EV, Tiago EV, and Tigor EV. They are already in the advanced stage of launching Harrier EV, Sierra EV, and Avinya. They have been making significant investments in EV technology and have a strong presence in the Indian EV market. Tata is a trustworthy brand and is likely to rule Indian EV and automotive market. You can plan to invest in Tata Motors Stock.

#2 TVS Motor Company Ltd

TVS Motors is a well-known name in the automotive segment. TVS Motors’ product range is from two and three-wheeler segments. TVS has a popular EV product called iQube. It is available in multiple variants. TVS Motor has a very good service and support network. In addition to EV, TVS has multiple other products such as TVS Raider, TVS Radeon, TVS StaR City +, TVS Sport, and Series RTR, Apache RR 310, TVS Jupiter, and TVS Scooty Pep+, etc. Overall TVS Motor is a good stock to investment.

#3 Mahindra & Mahindra Ltd

Mahindra & Mahindra is an Indian multinational. M&M is engaged in mobility products and farm solutions. Products and solutions offered by the Mahindra & Mahindra include sport utility vehicles (SUVs), pickups, commercial vehicles and tractors, electric vehicles, two-wheelers, and construction equipment.

They also offer electric vehicles such as the Mahindra eKUV100, Mahindra eXUV300, and Mahindra eVerito.Mahindra has been actively involved in the development and promotion of EVs in India. You can invest in Mahindra & Mahindra Stock.

#4 Hero MotoCorp

Hero MotoCorp is a leading two-wheeler manufacturer in India. Hero MotoCorp offers wide range of motorcycles and scooters in the Indian market. Hero MotoCorp has also ventured into the electric two-wheeler market with products like Hero Electric Optima and Hero Electric Photon. Hero MotoCorp has been focusing on expanding its electric vehicle portfolio. You can plan to invest in Hero MotoCorp stock.

#5 Bajaj Auto

Bajaj Auto is another prominent two-wheeler manufacturer in India. They have introduced electric scooters under the brand name Bajaj Chetak Electric. Bajaj Auto has been working on strengthening its EV offerings in the Indian market. Bajaj Auto is a good stock for investment.

#6 Ashok Leyland

Ashok Leyland is a major commercial vehicle manufacturer in India. They have been investing in electric bus technology and offer electric buses in the Indian market. Ashok Leyland has been actively participating in the Indian government’s push for electric public transportation. You can plan to invest in Ashok Leyland.

Over to You

If you are planning to invest in EV stocks make sure to conduct detailed research, evaluate the financial health of the companies, and consider your investment goals and risk tolerance before investing in any specific EV stock in India or any other market.

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of I am engaged in blogging & Digital Marketing for 10 years. I am not a finfluencer. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion. We do not offer any stock tips, investment, insurance or finance product related advice.
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