Future of EV Companies – How does EV Market looks in next 10 years?

An Electric Vehicle is a vehicle that, rather than one that is engineered to function on petrol or diesel, runs on one or more electric motors for propulsion. It either uses a collector system or can be powered using an Autonomous Battery. EV vehicles are not only restricted to cars and bikes but also extend to Rail vehicles, electric aircraft, and spacecraft. EVs first came into existence in the mid-19th century.

Many Governments are willing to promote Electric vehicles for the betterment of the Environment by offering incentives and exemptions to EV companies which poses a great opportunity for such companies to enter the market. There are some best EV stocks in India, which are performing better in current market. There is also a sense of public interest and social awareness linked to this industry as it supports the Green Revolution by providing a renewable energy source as a viable option to sustain one of the most pollution-prone industries.

Currently in India, The EV market is growing at a rapid pace like never before. The overall EV share in a global range has grown from 4.2% in 2020 to 8.3% in 2021. EVs are gaining attention across the globe as they help reduce emissions and depletion of natural resources. The Indian Automobile industry being the 5th largest in the world has given the EV industry a warm welcome and the annual CAGR of the EV industry is expected to grow by 36% which is great for any industry standards.

Read more  Tata Motors Dvr Share Price Target 2022 , 2023 , 2024 , 2025 & 2030

Hence these EV stocks will perform better in stock market in upcoming next 5 to 10 years. Keeping India’s population in mind, using natural resources as a means for fuel will not age well and this is where Electric vehicles come into play.

Pre and Post-Pandemic Effect

The EV market prior to the pandemic had just started to boom as it crossed the 2 million mark in 2019. However, the pandemic had the industry take a hit as did all other markets, but the industry was resilient enough to get back up and running very quickly. Reports show that the EV market is only going to go upward in the near future. As per EY, by 2045, non-EV sales will shrink to less than 1% of the overall sales.  It was found that the COVID-19 outbreak had reduced electric vehicle sales in the short-term, but may also stimulate future electric vehicle demand.

Read more  Adani Power Share Price History

Future in the Indian Market

The Indian EV industry is equipped for an upcoming EV revolution that all the market experts are confident will happen for sure. The Indian Government is seen to be backing the EV companies as they seek to become the Monopoly for manufacturing two and three-wheeler EVs.  All related costs for the betterment of EV companies have been brought down, to name a few: GST, cost of lithium-ion batteries, etc.

As you know the Government has also been increasing the prices of Petrol and Diesel for a while now and it is becoming difficult for the middle class.  Since electric three-wheelers are promoted by the government, the manufacturers feel highly confident and are all hands on deck in the sector. The majority of them have a clear-cut strategy and intend to expand aggressively in economies of scale. The penetration of EV vehicles in the 2-wheeler and 3-wheeler segments has been significant. The electric vehicles (EVs) market is expected to be worth around at least ₹ 475 billion by 2025.

The Automobile industry as a whole is set for a new phase of transition in India, and many Economists state that India is the best-equipped economy for the EV Revolution. Capital cost has always been a major factor in the EV purchase decision, with 63% of consumers believing that an EV is beyond their budget, We believe consumer psychology will be a major hurdle for the EV industry. India also faces a massive power shortage problem every year and electricity is the most important resource that the EV industry is dependent on. In order to build a strong EV industry in India, we must first address the basic problem of power shortage.

Read more  Data Patterns Share Price Target 2022 , 2023 , 2024 , 2025 & 2030

 Leading EV Companies in India

  • TATA Motors
  • Mahindra Electric
  • Ashok Leyland
  • Hero Electric
  • Ola Electric
  • Revolt Motors
  • Olectra Greentech


Many Startups and entrepreneurs are looking forward to entering the world of Electric vehicles because of the response it has gotten from the general public and the backing that the government is providing to the industry. Since the Indian economy is best suited for an EV revolution, it looks like a great time to invest in some of the financially sound companies that are linked to the EV industry in India.

Leave a Comment