In the first trading day of the new week, the pace of auto stock is moving ahead without a break. Veteran auto stocks Maruti Suzuki, Hero MotoCorp have seen strong growth. Even other stocks related to the auto sector are also seeing a jump. Today auto stocks are trading in Top Gear. Nifty’s auto index has reached a 2-month high. Sharing information on this, Harshada Sawant of CNBC-Awaaz told that what is the reason for good buying in auto stocks-
Harshada Sawant said that the focus has increased on EV stocks. The government has further simplified the new guidelines regarding EV charging infrastructure. Under this, license will no longer be necessary for public charging stations. If you have an electric vehicle, then you will be exempted from charging from the electric connection of the house. That is, now you will not have to take a license to set up a charging station in the house.
Harshada said that apart from the central government, the state governments are also pushing hard to promote EVs. Governments are making the guidelines easy for this according to their own. Delhi government has made EV mandatory for ride aggregators. Even EV has been made necessary for the delivery of goods.
PLI scheme approved, RIL/M&M/AMARA RAJA/EXIDE in focus
Harshada Sawant further said that the PLI scheme has been approved by the government for the companies related to battery storage. Along with this, companies have also been shortlisted for the PLI scheme of Rs 18000 crore. The shortlisted companies include 10 companies including RIL, M&M, AMARA RAJA.
FOCUS ON HERO MOTOCORP
This company has an emphasis on e-mobility. For this, the company will invest 420 crores in Ather Energy. This investment will be made in one or several phases. Let us tell you that Ather Energy is an EV start-up company based in Bangalore.
TATA Motors plans to make 50,000 EVs in the next financial year
Harshada said that today the focus remains on Tata Motors as well. According to a report, the company plans to make 50,000 EVs in the next financial year. The company has assured the vendors to make 50,000 electric vehicles. The company plans to make 1.25 lakh electric vehicles in 2 years. The company expects revenue of Rs 5000 crore from EVs in 2 years.
At present, the company has bookings of 15,000 EVs at present. Reports have been received that the company is preparing to launch 2 affordable EVs of less than Rs 10 lakh. The preparations for the launch of EV models of Tiago, Punch and Altroz by the company have started in full swing.
EV component manufacturing companies SONA COMSTAR and MINDA will benefit from the promotion of EVs by the government and easing of guidelines. At the same time, the business of companies like EXIDE, AMAR RAJA, M&M, L&T, RIL and TATA Power will also increase as EV charging players.
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