Best Electric Vehicle stocks that can give fivefold returns by 2030

Best EV stocks to invest in 2024.

Note - In this blog we have provided all the information based on our analyzes and news updates, so before investing in any stock, must do your own analysis and get advice from your financial expert.

Nowadays, EV and EV related stocks are in the watch list of every investor’s because this sector has given very good returns in the last 4-5 years and is growing a lot year-by-year. So first we will know about the biggest reasons, why this sector is investable and growthable.

• Pollution control - Some of the cities in India that have high ranked in terms of pollution levels includes the capital of India Delhi, Financial capital of India Mumbai, Kolkata, Chennai, Bangalore etc. And electric vehicles can be a big option in reducing pollution.

• Low cost running - As we know, while in a petrol car it costs approx 6-8 rupees for running 1 km, in an electrical car it costs approximately 1 rupee for 1 km running, which is very less in comparison to petrol car.

• Role of Government - The government is aware of the possibilities of electric vehicles and realizes the enormous potential market for electric vehicles. Hence, it has approved a budget of Rs 18,000 crore for manufacturing advanced chemistry cell batteries. The government is also taking battery replacement seriously and recently Niti Ayog released a much-awaited draft policy in this regard that aims to promote large-scale adoption of electric vehicles by promoting tax exemptions for electric vehicles.

We have divided EV Sector into 4 categories.

EV Manufacturing - Electric vehicle (EV) manufacturers specialize in the design, engineering and production of electric vehicles that run on electric energy instead of traditional combustion engines. We have a number of important players with good foundations, balance sheets and business policies. And whose results have been quite good in recent years and have enriched their investors.

EV Charging Station - Just as we have to go to a Petrol pump to refuel a petrol vehicle, with an electric vehicle we also need a charging station to charge it. Therefore, there are some important companies that have their own energy generation and currently these companies are installing charging stations and the future of that business will be very bright. There are some fundamentally strong companies on this list.

EV Batteries - Batteries plays a crucial role in EVs, determining their performance, range and overall viability as sustainable transportation options. Batteries are the main energy storage component of electric vehicles. They store the electrical energy that powers the vehicle's electric motor, allowing it to move without relying on combustion engines. Battery capacity and efficiency have a direct impact on the range of an electric vehicle. The higher the energy density and capacity of the battery, the longer the vehicle can drive on a single charge. Therefore, the more EV sales will increase, the more battery shares will also increase.

EV Software - Software also plays a crucial role in electric vehicles (EVs) in various aspects of their operation, performance and user experience. Below are some key areas where software contributes to the functionality and advancement of electric vehicles. BMS software monitors and manages the performance, health and safety of the electric vehicle's battery. The software controls the electric powertrain, including the motor, inverter and transmission systems. Software systems manage vehicle stability and traction control to ensure safe and predictable handling under different driving conditions and much more. So software is very important for EVs and has grown as an EV.